News
The Fifth Circuit Further Clarifies When Claims Belong to a Creditor Instead of the Bankruptcy Estate
At the commencement of a bankruptcy case, the debtor’s legal interests become a part of the bankruptcy estate pursuant to section 541 of the Bankruptcy Code. 11 U.S.C. § 541. Causes of action that belong to the bankruptcy estate may only be pursued by the trustee so that any recovery may be split equitably among the debtor’s creditors. Where a third party’s conduct harms both a debtor and a creditor, determining whether the cause of action belongs to the bankruptcy estate or a creditor “is a recurring issue in bankruptcy law.”
CONTINUE READING
Common Mistakes In Commercial Collections
It is no secret that one of the most disfavored aspects of operating a business is the collection of debts owed to the company. The process is tedious and time-consuming, and mistakes along the way can cause delay and trigger unwanted liability exposure.
CONTINUE READING
Lessons from the Sears Bankruptcy
Until recently, Sears department stores have been a mainstay in home and personal retail shopping for many consumers, but recent financial woes have threatened its continued existence. Following a contested sale of the bankrupt retail chain to its chairman, Eddie Lampert, it appears that the company will continue for now. The battle to preserve the retail chain offers many lessons for bankruptcy observers.
CONTINUE READING
Freshly Removed from Bankruptcy, Mattress Firm Partially Settles Fraud Lawsuit
Since late 2017, Mattress Firm has been embroiled in litigation against a litany of real estate industry defendants over what it claims was “a massive, multi-year fraud, bribery, and kickback scheme.” Having recently emerged from chapter 11 bankruptcy, the major bedding retailer is now setting its sights on resolving at least a portion of its wide-ranging lawsuit.
CONTINUE READINGDavid Curry Speaks at the Dallas County Bar Association’s “Keeping Your Truck on the Road” Seminar
Dallas (October 3, 2018) – Okin Adams LLP partner David Curry joined a panel of bankruptcy professionals to discuss the challenges facing the transportation industry in a chapter 11 case with an emphasis upon best practices with cross-industry applicability. The challenges addressed included identifying and recovering rolling stock, addressing multiple secured lender and lessor claims, identifying true leases versus…
CONTINUE READING