Most people think of municipal bonds as debt issued by state and local governments and their agencies and authorities. In fact, federal tax laws treat a wide array of entities and projects as eligible for “municipal financing.” Most U.S. cities and states have created “municipal authorities” as the...
Early January brought a rash of store closure announcements from household names. Macy’s and Sears collectively announced 218 store closures across the United States, 1 and The Limited announced it would close all of its 250 U.S. stores, while assuring customers that all of its products would still...
As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), Congress amended how certain claims for the sale of goods would be treated in Chapter 11 cases by establishing a new category of administrative priority claim under Section 503(b)(9) of the U.S. Bankruptcy Code...
Begun in 1960 as a family-run business in New York City, Duane Reade had become a private equity-owned regional convenience and drug store chain that was financially underwater and plagued by low customer satisfaction. Clutter and crowding were synonymous with the brand and its undifferentiated...
The fact pattern may sound all too familiar to bankruptcy practitioners: Heightened Scrutiny Inc. is a multichannel computer and software family business founded in 1984 with current revenue of $65 million and 100 employees. The company has experienced sustained losses caused by increased...
The out-of-court restructuring process is a fascinating and ever-evolving discipline. Creative restructuring professionals have spent entire careers developing unique approaches to out-of-court restructuring that push the limits of applicable law. Recent decisions by lower courts temporarily...
A recent bankruptcy case in Southern California has raised significant questions about the limits, if any, on the power of state governments in approving or rejecting sales of assets of not-for-profit healthcare industry entities. With Congress focused on repealing the Affordable Care Act (ACA),...
It’s a particular pleasure to be guest editor for the March issue of the Journal of Corporate Renewal this year. The Journal continues to produce cutting-edge thinking and leading scholarship on opportunities arising from disruption in the U.S. economy and the world. The realm of corporate distress...
Alabama Frederick Aderholt, Warren Averett Kimbrough & Marino LLC John R. Doody Jr. Arizona Jeromy Cushing, Liquid Capital Funding Solutions Kevin B. Elliott Philip Giles, Pite Duncan LLP Wayne R. Lorgus, B2B CFO Jordan Medl, Resolute Commercial Services Dan Shorr, SMS Financial LLC Robert...
Arnold & Porter LLP and Kaye Scholer LLP have merged, with the combined firm known as Arnold & Porter Kaye Scholer LLP . With more than 40 bankruptcy and corporate restructuring lawyers, the firm’s practice advises on a full spectrum of insolvency and distressed situations, and members of...
