By Francisco Vazquez on Posted in U.S. In a matter of first impression at the Circuit level, the United States Court of Appeals for the Ninth Circuit held that a court may confirm a plan filed on behalf of multiple debtors that has been approved by an impaired class of creditors of only one of the debtors. JPMCC 2007-C1 Grasslawn Lodging,… Continue Reading
By on Posted in U.S.Chapter 11 of the Bankruptcy Code is designed to allow struggling companies to reorganize their debts and emerge as stronger, healthier companies or to liquidate in an orderly fashion. In either case, the company better be struggling, as made clear in a recent decision in In re Derma Pen, LLC, No. 14-11894, 2014 WL 7269762… Continue Reading
By on Posted in U.S.In today’s celebrity gossip section of the Zone of Insolvency blog, we are talking about recording artist and actor Earl Simmons, much more commonly known as DMX. DMX commenced a voluntary chapter 11 bankruptcy case on July 19, 2013. Since that time, according to pleadings filed by the U.S. Trustee for the Southern District of… Continue Reading
