Saul Ewing LLP’s Post

Chapter 11 Alert: Subchapter V Summary - Shulman Rogers. The general purpose of Chapter 11 of the Bankruptcy Code is to allow a reorganization either for an individual or a company. Read here: https://hubs.li/Q02y_hdT0

An ever-growing list of claims filed by companies in the True Value Company Chapter 11 bankruptcy-law reorganization now tops $36.9 million, of which nearly $35.2 million is unsecured. The list now stretches for 35 printed pages, includes more than 350 claims, and can be found at the link below. According to HBSDealer there are more than a dozen claims of above $500,000. At the top of the list is Inliten, which produces Christmas and seasonal lighten. It claims to be owed $1.8 million. https://lnkd.in/eHN9NVsG

What’s Happening With Bankruptcy? This year is on pace to set new records in both personal and business bankruptcy. Already this year, we’ve seen a tsunami of bankruptcy filings in the United States, the highest since lockdowns. The number is up 9.1 percent in the latest quarter over the previous. According to the American Bankruptcy Institute, bankruptcy filings including all chapters totaled 40,267, a 7 percent increase from 2023. Commercial Chapter 11 filings increased 70 percent. Commercial filings were 2,753, a 28 percent increase over 2023. Subchapter V small business elections increased 78 percent. Individual filings increased 5 percent year-over-year. https://lnkd.in/gF3wxBHt

On August 15, Lowenstein's Andrew Behlmann, Bruce S. Nathan, and Mike Papandrea will cover the practical aspects and recent developments regarding Subchapter V small business bankruptcy cases during a NACM Commercial Services webinar, including differences from other Chapter 11 cases, issues affecting trade creditors, and responses to certain recommendations from the American Bankruptcy Institute’s Subchapter V Task Force. For more information and to register, please visit: https://bit.ly/3SC00Yi #bankruptcylaw #lawyers #bankruptcy #chapter11 #restructuring

Catch Lowenstein Sandler LLP partners Andrew Behlmann and Eric Chafetz on October 22 as they dive into the rising trend of selling preference actions in bankruptcy and its impact on trade creditors during the Credit Research Foundation's October Forum. #bankruptcy #bankruptcylaw #chapter11 #restructuring #lawyers

Catch Lowenstein Sandler LLP partners Andrew Behlmann and Eric Chafetz on October 22 as they dive into the rising trend of selling preference actions in bankruptcy and its impact on trade creditors during the Credit Research Foundation's October Forum. #bankruptcy #bankruptcylaw #chapter11 #restructuring #lawyers

Catch Lowenstein Sandler LLP partners Andrew Behlmann and Eric Chafetz on October 22 as they dive into the rising trend of selling preference actions in bankruptcy and its impact on trade creditors during the Credit Research Foundation's October Forum. #bankruptcy #bankruptcylaw #chapter11 #restructuring #lawyers

Chapter 11 bankruptcy isn't the end of the world; it's a fresh start. You can use Chapter 11 bankruptcy as a tool to leverage your business. Just because you declared bankruptcy does not mean the company is going away. It's more of a pause, an opportunity to not pay bills for a length of time and get caught up. It gives you a lever to work with creditors (or a billy club). You can secure additional financing overseen/approved by the court and use distressed lenders at a higher rate, but it's safer. #Chapter11Bankruptcy #Tools

Catch Lowenstein Sandler LLP partners Andrew Behlmann and Eric Chafetz on October 22 as they dive into the rising trend of selling preference actions in bankruptcy and its impact on trade creditors during the Credit Research Foundation's October Forum. #bankruptcy #bankruptcylaw #chapter11 #restructuring #lawyers

Join Lowenstein Sandler LLP partners Andrew Behlmann and Eric Chafetz on October 22 for an insightful discussion with the Credit Research Foundation on the troubling trend of distressed companies selling preference actions in bankruptcy, featuring real case stories and analysis of the Fifth Circuit's recent decision. #bankruptcy #bankruptcylaw #chapter11 #restructuring #lawyers