Insolvency BCR Advisory
Bankruptcy World business

Court Rejects Lender’s Objection to Payment of Debtor’s Counsel’s Fees and Expenses from Pre-Petition Retainer

 This article was sourced from JD Supra Business Advisor. Article by Rachel Cocciolo. In a decision rendered on December 30, 2016, the bankruptcy court for the Southern District of Florida (the “Court”) addressed the debtor’s counsel’s interim application for an award of fees and expenses for services rendered to the debtor and its bankruptcy estate, as […]

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Insolvency World business

Massachusetts Bankruptcy Court Sends a Reminder on Avoiding the Substantive Consolidation Trap

 This article was sourced from Mintez Levin. Article by Charles W. Azano. There are numerous reasons why a company might use more than one entity for its operations or organization: to silo liabilities, for tax advantages, to accommodate a lender, or for general organizational purposes. Simply forming a separate entity, however, is not enough. Corporate formalities […]

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Bankruptcy Insolvency

Fifth Circuit Rules for PACA Claimants, and Weakens PACA, All in One Curious Ruling

 This article was sourced from JD Supra Business Advisor. Article by Leah Fiorenza McNeill.  Most restructuring practitioners are aware, either vaguely or through punishing experience, of the power of PACA creditors.  PACA (or the Perishable Agricultural Commodities Act, 7 U.S.C. § 499a et seq. for those who hate brevity) requires that buyers of produce hold such […]

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Bankruptcy

Toshiba may file for bankruptcy: chairman resigns following $6.3 billion loss

This article was sourced from android authority. Article by Kris Carlon. Toshiba may be facing bankruptcy amidst a failed attempt to salvage the company’s fortunes. Toshiba confirmed today that it will take a $6.3 billion hit thanks to its problematic US-based nuclear construction business. In response, the company’s chairman will step down tomorrow. Toshiba had attempted […]