5th Circuit Upholds Subordination of Deemed Dividends Under Section 510(b)

In In re Linn Energy, LLC, 2019 WL 4149481 (5th Cir. Sept. 3, 2019), the Fifth Circuit recently reminded us that if a debt instrument looks like a security and quacks like a security, it likely is a security for purposes… Read More ›

SCOTUS Determines Trademark Licensee’s Rights Survive Rejection by Debtor in Bankruptcy

A debtor has the right to assume or reject any executory contract or unexpired lease through its bankruptcy, pursuant to the Bankruptcy Code. A trademark license is an executory contract that is subject to assumption or rejection if performance remains… Read More ›

Delaware Court Holds Environmental Claim of Unknown Claimant Discharged by Chapter 11 Plan

Addressing unknown future claims in a chapter 11 bankruptcy involves two competing concerns: (a) providing a debtor with a fresh start and (b) providing an unwitting claimant with due process. These competing concerns clash when a debtor seeks to confirm… Read More ›

Fifth Circuit Holds that Chapter 11 Plan Does not “Impair” Claimants by Denying Make-Whole Rights and Contractual Interest

In Keystone Gas Gathering, L.L.C. v. Ad Hoc Committee of Unsecured Creditors of Ultra Resources, Incorporated (In re Ultra Petroleum Corporation), Case No. 17-20793, –F.3d–, 2019 WL 237365 (5th Cir. Jan. 17, 2019) (Oldham, J.), the Fifth Circuit Court of Appeals… Read More ›

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