Bankruptcy & Restructuring Updates from Cooley LLPhttp://www.cooley.comPalo Alto, Calif. – March 13, 2013 – Cooley LLP announced today that it received the "Distressed M&A Deal of the Year" award (deals between $25 million and $100 million) at the 7th Annual M&A Advisor Turnaround Awards. Cooley was selected for its representation of Entropic Communications in ...http://www.cooley.com/showpressrelease.aspx?Show=67768Wed, 13 Mar 2013 00:00:00 GMTBankruptcy & Restructuring partner Ron Sussman authored an article for the Turnaround Management Association's Journal of Corporate Renewal in which he walks through the changes that the corporate renewal industry has experienced over time, particularly in the past eight years. ...http://www.cooley.com/showarticle.aspx?Show=67741Mon, 04 Mar 2013 00:00:00 GMTSan Francisco, Calif. – March 4, 2013 – Cooley LLP announced today that it represented client Cylex Inc., a Maryland-based life sciences company, whose diagnostic test kit detects immune function in organ transplant patients, in a highly successful sale of the company's assets through a distressed M...http://www.cooley.com/showpressrelease.aspx?Show=67720Mon, 04 Mar 2013 00:00:00 GMTCooley Bankruptcy & Restructuring partner Jay Indyke is quoted in The Wall Street Journal on the increasing pressure that banks and other lenders are putting on bankrupt companies to sell themselves quickly. Mr. Indyke ellaborates on how expedited timing addresses only the concerns of lenders. ...http://www.cooley.com/showinthenews.aspx?Show=67503Sun, 13 Jan 2013 00:00:00 GMTBankruptcy & Restructuring partner Ron Sussman was recognized by the Turnaround Management Association (TMA) for his excellent leadership as TMA President in 2012, which was the year that the TMA celebrated its 25th anniversary. View the article here.    http://www.cooley.com/showinthenews.aspx?Show=67673Mon, 07 Jan 2013 00:00:00 GMTPartner in Cooley's bankruptcy & restructuring practice and the 2012 President of the Turnaround Management Association, Ron Sussman, is pictured attending the TMA NextGen Leadership Meeting, which included forty of TMA's up-and-coming leaders who discussed best practices and strategic plan...http://www.cooley.com/showinthenews.aspx?Show=67546Tue, 01 Jan 2013 00:00:00 GMTBankruptcy & restructuring attorneys Lawrence C. Gottlieb, Michael Klein and Robert Winning authored an article discussing how Chapter 15 of the United States Bankruptcy Code provides a mechanism for dealing with cross-border insolvencies and the privileges the code affords international de...http://www.cooley.com/showarticle.aspx?Show=67533Sun, 02 Dec 2012 00:00:00 GMTBy Lance DuroniA Delaware bankruptcy judge gave his blessing Friday to a $166 million settlement between Mervyn's LLC creditors and private equity firms over the 2004 leveraged buyout of the department store chain, overruling an objection from a distressed debt investment firm. U.S. Bankruptcy Judg...http://www.cooley.com/showinthenews.aspx?Show=67290Fri, 02 Nov 2012 00:00:00 GMT New York – November 1, 2012 – Cooley LLP announced today that Ronald Sussman, a partner in the firm's Bankruptcy & Restructuring practice, has been elected global chairman of the Turnaround Management Association (TMA) effective January 1, 2013. Sussman is the current president of the TMA. ...http://www.cooley.com/showpressrelease.aspx?Show=67164Thu, 01 Nov 2012 00:00:00 GMTPartner Jeffrey Cohen and associates Lesley Kroupa and Alex Velinksy in the Bankruptcy & Restructuring practice group, review two Delaware bankruptcy court decisions that adopted narrow interpretations of the U.S. Supreme Court's Stern v. Marshall decision and significantly lessened the imp...http://www.cooley.com/showarticle.aspx?Show=67276Thu, 01 Nov 2012 00:00:00 GMTCreditors of Mervyn's LLC scored a $166 million settlement in litigation over a 2004 leveraged buyout where several private equity firms allegedly leeched valuable real estate assets out of the department store chain, according to documents filed Friday in Delaware bankruptcy court.In 2008, Mervyn's...http://www.cooley.com/showinthenews.aspx?Show=67084Tue, 09 Oct 2012 00:00:00 GMTJay Indyke, Lawrence Gottlieb, Ron Sussman and Cathy Hershcopf, partners in the Bankruptcy & Restructuring practice group, along with litigation partners Jason Koral and Ian Shapiro, and Tax partner Lesse Castleberry, represent the committee of unsecured creditors i...http://www.cooley.com/showinthenews.aspx?Show=67085Mon, 08 Oct 2012 00:00:00 GMTMichael Klein and Brent Weisenberg, New York-based associates in the Bankruptcy & Restructuring practice group, authored an article on a recent case decided by the Third Circuit discussing when a claim arises under the Bankruptcy Code, an issue with important ramifications for debtors and c...http://www.cooley.com/showarticle.aspx?Show=67080Mon, 01 Oct 2012 00:00:00 GMTNew York – August 6, 2012 – Cooley LLP announced today that its Bankruptcy & Restructuring practice was received top honors, receiving the award for Special Situation M&A of the Year (Middle Markets) for its work representing the Creditors Committee in the Chapter 11 reorganization and sale ...http://www.cooley.com/showpressrelease.aspx?Show=66824Mon, 06 Aug 2012 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector.This issue discusses:Delaware Bankruptcy Courts Narrow Impact Of Stern v. Marshall In Fraudulent Conveyance LitigationCalifornia District Court Strips Bankruptcy Court Of Final Authority Over Fraudulent ConveyanceLitigatio...http://www.cooley.com/showarticle.aspx?Show=66769Thu, 26 Jul 2012 00:00:00 GMT Ritz Camera & Image LLC can use its entire debtor-in-possession loan as it seeks to sell its assets in bankruptcy. Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware in Wilmington on Tuesday, July 17, gave the Beltsville, Md., camera retailer final approval to us...http://www.cooley.com/showinthenews.aspx?Show=66754Wed, 18 Jul 2012 00:00:00 GMT Four years after liquidating its assets, former specialty gift retailer Sharper Image Corp. is seeking to have its Chapter 11 case dismissed. Chief Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware in Wilmington on Aug. 13 will consider the dismissal motion filed j...http://www.cooley.com/showinthenews.aspx?Show=66753Tue, 17 Jul 2012 00:00:00 GMTBy Jamie SantoA Delaware bankruptcy judge gave final approval Tuesday to Ritz Camera & Image LLC's $20 million debtor-in-possession financing after the bankrupt retailer and its creditors amended the agreement to better preserve the administrative solvency of the estate while it seeks a buyer. ...http://www.cooley.com/showinthenews.aspx?Show=66752Tue, 17 Jul 2012 00:00:00 GMT On July 9, 2012, the U.S. Court of Appeals for the Seventh Circuit issued its decision in Sunbeam Products, Inc. v. Chicago American Manufacturing, LLC, and in doing so handed a major victory to trademark licensees whose licenses are rejected in bankruptcy by trademark owners. View the full opinion...http://www.cooley.com/showalert.aspx?Show=66732Fri, 13 Jul 2012 00:00:00 GMTRon Sussman, partner in the Bankruptcy & Restructuring practice group, was quoted in an article on turnaround firms taking challenging times and creating new opportunities.View the article here.http://www.cooley.com/showinthenews.aspx?Show=66525Fri, 11 May 2012 00:00:00 GMTRon Sussman, New York-based partner in Cooley's Bankruptcy & Restructuring practice group, authored an article on the progess the Turnaround Management Association (TMA) is making in 2012.  Sussman is president of the TMA.View the article here.http://www.cooley.com/showarticle.aspx?Show=66436Tue, 01 May 2012 00:00:00 GMTBrent Weisenberg, an associate in Cooley's Bankruptcy & Restructuring practice, recently authored an article arguing that the Bankruptcy Code should be amended to plainly provide for structural dismissals and short form plans of liquidation - two expedient and less-costly exit strategies for liq...http://www.cooley.com/showarticle.aspx?Show=66354Sun, 01 Apr 2012 00:00:00 GMTSan Diego, Calif. — March 21, 2012 — Cooley LLP announced today that Ali M.M. Mojdehi has joined the firm as a partner in its Bankruptcy and Restructuring practice. He will be based in its San Diego office.  Mojdehi was previously a partner at Baker & McKenzie, LLP, in San Diego and is the ...http://www.cooley.com/showpressrelease.aspx?Show=66231Wed, 21 Mar 2012 00:00:00 GMTBy Kaitlin UgolikUnsecured creditors of women's clothing retailer United Retail Group Inc. on Monday filed an adversary complaint within the company's New York bankruptcy case seeking to block would-be buyer Versa Capital Management LLC's purported $9.5 million secured claim. The $9.5 million claim...http://www.cooley.com/showinthenews.aspx?Show=66347Wed, 14 Mar 2012 00:00:00 GMTBy Lisa Uhlman A New York bankruptcy judge agreed Thursday to expedite the notice period required to clear the potential $2.4 million sale of bankrupt digital music startup Beyond Oblivion Inc. to Nassau Music LLC, saying he'd hear a motion on the bid Monday. U.S. Bankruptcy Judge Allan L. Gropper...http://www.cooley.com/showinthenews.aspx?Show=66218Thu, 08 Mar 2012 00:00:00 GMTEric Haber, special counsel in Cooley's Bankruptcy & Restructuring practice group, authored an article on achieving a successful mediation.View the article here.http://www.cooley.com/showarticle.aspx?Show=66135Mon, 13 Feb 2012 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector.This issue discusses:Bankruptcy Courts Grapple With Jurisdictional Limitations Following Stern v. MarshallSDNY Bankruptcy Court Grants Plan Relief In Wake Of Stern v. MarshallSeventh Circuit Delivers Credit-Bidding Win For...http://www.cooley.com/showarticle.aspx?Show=66093Mon, 06 Feb 2012 00:00:00 GMTRon Sussman, partner in Cooley's Bankruptcy and Restructuring practice group, was quoted in an article on the restructuring industry's outlook for 2012.View the article here.http://www.cooley.com/showinthenews.aspx?Show=66084Fri, 27 Jan 2012 00:00:00 GMTCathy Hershcopf, partner in Cooley's Bankruptcy and Restructuring practice group, was quoted in an article on why filing for bankruptcy will not necessairly kill a brand's name.View the article here.http://www.cooley.com/showinthenews.aspx?Show=66047Tue, 17 Jan 2012 00:00:00 GMTRon Sussman, partner in Cooley's Bankruptcy and Restructuring practice group and president of the Turnaround Management Association, authored a new year message in the Association's Journal of Corporate Renewal.View the article here.http://www.cooley.com/showarticle.aspx?Show=65991Fri, 06 Jan 2012 00:00:00 GMTPartner Ron Sussman and Special Counsel Nicholas Smithberg, members of Cooley's Bankruptcy and Restructuring practice group, authored an article on the continuing fallout of Bernie Madoff's Ponzi scheme and its impact on banks in the Fairfield Sentry litigation.  View the article here.http://www.cooley.com/showarticle.aspx?Show=66050Sun, 01 Jan 2012 00:00:00 GMTBy Hilary RussA New York bankruptcy judge on Tuesday approved the $103 million sale of court reporting and litigation services outfit Alexander Gallo Holdings LLC to a unit of private equity firm HIG Capital LLC. The sale was a main objective for the company in filing for bankruptcy protection Sept...http://www.cooley.com/showinthenews.aspx?Show=65806Tue, 08 Nov 2011 00:00:00 GMTRon Sussman, partner in Cooley's Bankruptcy & Restructuring practice group, was elected president of the Turnaround Management Association. View the full article here.http://www.cooley.com/showinthenews.aspx?Show=65759Thu, 03 Nov 2011 00:00:00 GMTAttorneys in Cooley's Bankruptcy and Restructuring practice group, including partner Cathy Hershcopf and associates Seth Van Aalten and Robert Winning, authored an article on the so-called "absolute priority rule."View the full article here.http://www.cooley.com/showarticle.aspx?Show=65853Tue, 01 Nov 2011 00:00:00 GMTRon Sussman, partner in Cooley's Bankruptcy & Restructuring practice group, was elected president of the Turnaround Management Association.View the full article here.http://www.cooley.com/showinthenews.aspx?Show=65757Thu, 27 Oct 2011 00:00:00 GMTJay Indyke, chair of Cooley's Bankruptcy and Restructuring practice group, was quoted in an article on the projected increase of bankruptcy filings.  View the full article here.http://www.cooley.com/showinthenews.aspx?Show=65803Tue, 11 Oct 2011 00:00:00 GMTPartner Ron Sussman and Associate Michael Klein, attorneys in Cooley's Bankruptcy & Restructuring practice group and resident in the New York office, authored an article recently on the implications of the U.S. Supreme Court's decision in Stern v. Marshall.View the full article here.http://www.cooley.com/showarticle.aspx?Show=65659Sat, 01 Oct 2011 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector. This issue discusses:Third Circuit Strikes Down Application of Res Judicata Against Plan Administrator In Successor Bankruptcy CaseSecond Circuit Curbs "Gifting" Under Chapter 11 PlanSDNY Bankruptcy Court Excludes Private...http://www.cooley.com/showarticle.aspx?Show=65436Thu, 25 Aug 2011 00:00:00 GMT It's been a long wait, but we finally have a published decision from a U.S. Court of Appeals confirming that a trademark license is not assignable in bankruptcy without the licensor's consent. On July 26, 2011, the U.S. Court of Appeals for the Seventh Circuit issued that decision in In re: XM...http://www.cooley.com/showalert.aspx?Show=65398Thu, 11 Aug 2011 00:00:00 GMTSan Francisco – August 4, 2011 – Cooley LLP announced today that Pacific Metro, LLC, the manufacturing subsidiary of the "Painter of Light" Thomas Kinkade's art empire, has emerged from Chapter 11 bankruptcy.  A team of Cooley attorneys led by Keith McDaniels, Ron Sussman and Michael Klein nego...http://www.cooley.com/showpressrelease.aspx?Show=65369Thu, 04 Aug 2011 00:00:00 GMTNew York – June 22, 2011 – Cooley LLP announced its Bankruptcy & Restructuring practice was awarded top honors last week for its performance in 2011, receiving the "Consumer Goods & Services Turnaround of the Year" award at the annual Turnaround Atlas Awards for its representation of the&nbs...http://www.cooley.com/showpressrelease.aspx?Show=65205Wed, 22 Jun 2011 00:00:00 GMTSeveral Orchard Brands Corp. affiliates won bankruptcy court approval Thursday in Delaware for their reorganization plan after resolving objections from controlling shareholder Golden Gate Capital Corp. over the plan's release provisions.At a hearing in the U.S. Bankruptcy Court for the District of ...http://www.cooley.com/showinthenews.aspx?Show=64945Thu, 14 Apr 2011 00:00:00 GMTQwest Communications Co. LLC  joined private equity firm Golden Gate Capital Corp. in Delaware on Tuesday in objecting to a proposed Chapter 11 reorganization plan for several Orchard Brands Corp. subsidiaries.Qwest said that two service contracts it had with Orchard Brands were not properly ad...http://www.cooley.com/showinthenews.aspx?Show=64952Tue, 12 Apr 2011 00:00:00 GMT(TMA International Headquarters)In a decision sure to bolster the efforts of Irving Picard, the bankruptcy trustee of seeking to recover billions of dollars in transfers made to investors in furtherance of Bernard L. Madoff's infamous Ponzi scheme, the U.S. Bankruptcy Court for the Southern District...http://www.cooley.com/showarticle.aspx?Show=64834Thu, 10 Mar 2011 00:00:00 GMTOrchard Brands has reached a settlement with its unsecured creditors committee that could result in litigation against the bankrupt clothing retailer's majority owner, Golden Gate Private Equity Inc., and an eventual recovery for the creditors.The settlement brings the committee on board with the de...http://www.cooley.com/showinthenews.aspx?Show=64951Wed, 23 Feb 2011 00:00:00 GMTNew York – December 23, 2010 – On December 16, 2010, the United States Bankruptcy Court for the District of Delaware confirmed the Fifth Amended Joint Plan of Reorganization of Oriental Trading Company, Inc. and its affiliated debtors and debtors-in-possession (OTC),  the largest direct markete...http://www.cooley.com/showpressrelease.aspx?Show=64600Thu, 23 Dec 2010 00:00:00 GMTRichard Kanowitz, a partner in the Cooley's Bankruptcy & Restructuring practice was quoted in an article on Blockbuster bankruptcy probe.  To view complete article.http://www.cooley.com/showinthenews.aspx?Show=64769Tue, 23 Nov 2010 00:00:00 GMTRobert Eisenbach, partner in Cooley's Bankruptcy & Restructuring practice group was quoted and his blog was featured in an article about attracting new clients.To view article.  (Subscription required)http://www.cooley.com/showinthenews.aspx?Show=64770Mon, 22 Nov 2010 00:00:00 GMTBrent Weisenberg, an associate in the Bankruptcy & Restructuring group was quoted in an article about the hardware store chain, Patrick Hackett Hardware Co.To view full article.http://www.cooley.com/showinthenews.aspx?Show=64771Wed, 17 Nov 2010 00:00:00 GMTPartner Richard Kanowitz, from Cooley's Bankruptcy & Restructuring group was quoted in an article on Blockbuster.View full article.http://www.cooley.com/showinthenews.aspx?Show=64772Wed, 27 Oct 2010 00:00:00 GMTPartner Lawrence Gottlieb, from the firm's Bankruptcy & Restructuring group was mentioned in an article about Urban Brands' acquisition by Gordon Brothers Group.View full article.http://www.cooley.com/showinthenews.aspx?Show=64773Tue, 26 Oct 2010 00:00:00 GMTNew York -- Oct. 11, 2010 -- Ronald Sussman, a partner in the Bankruptcy & Restructuring practice at Cooley LLP, was elected to serve as the Corporate Secretary on the Executive Board and a Trustee on the International Board of Trustees for the Turnaround Management Association (TMA). The one-ye...http://www.cooley.com/showpressrelease.aspx?Show=64366Mon, 11 Oct 2010 00:00:00 GMTNew York – Oct. 6, 2010 – Cooley LLP announced today that its bankruptcy and restructuring practice group was selected to represent the unsecured creditors committee in the bankruptcy proceedings of the U.S. video rental retailer Blockbuster.  The selection is pending the approval of the U.S. B...http://www.cooley.com/showpressrelease.aspx?Show=64344Wed, 06 Oct 2010 00:00:00 GMTThe U.S. Bankruptcy Code does not explicitly address whether courts may substantively consolidate a bankruptcy estate's assets and liabilities with those of a separate debtor or nondebtor entity.  Nonetheless,many courts consider substantive consolidation to be a remedy that is available to cre...http://www.cooley.com/showarticle.aspx?Show=64425Fri, 01 Oct 2010 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector.This issue discusses:Third Circuit Bars Secured Creditors From Credit Bidding In Asset Sale Under Chapter 11 PlanThird Circuit Redefines When a Claim Arises Third Circuit Upholds Ruling That Landlords May Seek Adminis...http://www.cooley.com/showarticle.aspx?Show=64290Mon, 20 Sep 2010 00:00:00 GMTPartner Lawrence Gottlieb was profiled in Bankruptcy Law360's "Most Admired Attorneys" series. Click to view article. http://www.cooley.com/showinthenews.aspx?Show=64261Thu, 09 Sep 2010 00:00:00 GMTNew York -- June 22, 2010 -- Cooley LLP announced its Bankruptcy & Restructuring practice was awarded top honors last week for its record of performance in 2010, receiving the "Restructuring Law Firm of the Year" award at the annual Turnaround Atlas Awards.  In addition, the firm recei...http://www.cooley.com/showpressrelease.aspx?Show=63985Tue, 22 Jun 2010 00:00:00 GMTThe Cooley bankruptcy and restructuring team representing Pacific Ethanol Holding Co. LLC and its four plant subsidiaries includes partners Lawrence Gottlieb and Richard Kanowitz. Sacramento, CA, June 9, 2010 – Pacific Ethanol, Inc. (the "Company") (NASDAQ CM:PEIX), the leading West Coast mar...http://www.cooley.com/showpressrelease.aspx?Show=63959Thu, 10 Jun 2010 00:00:00 GMTI. IntroductionThe attorney-client privilege is the oldest of the recognized commonlaw privileges protecting communications. It serves "to encourage full and frank communication between attorneys and their clients" and thereby promotes broader public interest in the observance of law and administrat...http://www.cooley.com/showarticle.aspx?Show=63984Tue, 01 Jun 2010 00:00:00 GMTOn May 19, 2009,  President Obama signed into law the Helping Families Save Their Homes Act, which is also known as the Mortgage Reform Act.  Representing the federal government's first major effort to help homeowners  avoid foreclosures as a result of the economic crisis, the act has...http://www.cooley.com/showarticle.aspx?Show=63965Tue, 01 Jun 2010 00:00:00 GMTNew York -- May 20, 2010 -- Cooley's Bankruptcy & Restructuring practice was named a finalist for "Law Firm of the Year" and several other categories by the annual Turnaround Atlas Awards. Lawrence Gottlieb, the head of Cooley's bankruptcy practice, is a finalist for "Lawyer of the Year." The ba...http://www.cooley.com/showpressrelease.aspx?Show=63910Thu, 20 May 2010 00:00:00 GMTSan Francisco, Calif. – April 5, 2010 – Cooley Godward Kronish LLP announced today that Keith A. McDaniels, formerly a partner at Winston & Strawn LLP,  has joined the firm as a partner in its Bankruptcy & Restructuring practice.  He will be resident in San Francisco. "Keith is a...http://www.cooley.com/showpressrelease.aspx?Show=63761Mon, 05 Apr 2010 00:00:00 GMTPartner Ronald Sussman commented on a lawsuit stemming from Target Corp's sale of the Mervyn's department store chain in 2004 and the retailer's eventual bankruptcy filing in 2008. Cooley is representing the official committee of unsecured creditors of Mervyn's in bringing the suit.. The article "Ta...http://www.cooley.com/showinthenews.aspx?Show=63731Thu, 25 Mar 2010 00:00:00 GMTPartner Ronald Sussman commented on a lawsuit stemming from Target Corp's sale of the Mervyn's department store chain in 2004 and the retailer's eventual bankruptcy filing in 2008. Cooley is representing the official committee of unsecured creditors of Mervyn's in bringing the suit. To view articl...http://www.cooley.com/showinthenews.aspx?Show=63729Thu, 25 Mar 2010 00:00:00 GMTThis is an important update for trade vendors and suppliers of goods who may be the targets of preference litigation.On January 6, 2010 the United States Bankruptcy Court for the Middle District of Tennessee issued a decision in the Commissary Operations case (Case No. 308-06279) which should assist...http://www.cooley.com/showalert.aspx?Show=63695Fri, 19 Mar 2010 00:00:00 GMT Almost two decades ago, the terms "vicinity of insolvency" and "zone of insolvency" were introduced into the legal and business lexicon by a Delaware Chancery Court decision in Credit Lyonnais Bank Nederland, N.V. v. Pathe Communications Corp., 1991 WL 277613 (Del. Ch. 1991). Then, in May 2007...http://www.cooley.com/showalert.aspx?Show=63686Tue, 16 Mar 2010 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector. This issue discusses: Third Circuit to Consider "Credit Bidding" Rights in Asset Sales Conducted Pursuant to Chapter 11 Plan Crabtree & Evelyn Successfully Reorganizes Delaware Bankruptcy Court Abandons Per Se...http://www.cooley.com/showarticle.aspx?Show=63673Wed, 10 Mar 2010 00:00:00 GMTPartner Robert L. Eisenbach III and senior counsel J. Michael Kelly discuss the increasing number of bankrutpcy-related Section 363 sales prior to liquidation. To view article. http://www.cooley.com/showinthenews.aspx?Show=63685Wed, 03 Mar 2010 00:00:00 GMTCooley Godward Kronish's Bankruptcy & Restructuring practice was selected as a finalist for The M&A Advisor's 4th Annual Turnaround Awards.  The Turnaround Awards honors achievements of firms and professionals in the distressed investing, restructuring and turnaround...http://www.cooley.com/showinthenews.aspx?Show=63634Mon, 01 Mar 2010 00:00:00 GMTIn a recent decision authored by Judge Richard Posner, the 7th Circuit U.S. Court of Appeals addressed the application of fraudulent transfer laws to leveraged buyout transactions (LBOs). The court's ruling in Boyer v. Crown Stock Distribution, Inc., et al., 587 F.3d 787 (7th Cir. Nov. 21, 2009) is ...http://www.cooley.com/showarticle.aspx?Show=63677Mon, 01 Mar 2010 00:00:00 GMTThe Cooley bankruptcy and restructuring team representing Crabtree & Evelyn includes partners Lawrence C. Gottlieb and Jeffrey L. Cohen and associate Richelle Kalnit. Woodstock CT, January 14, 2010 -- Crabtree & Evelyn, Ltd. announces that the United States Bankruptcy Court for the Souther...http://www.cooley.com/showpressrelease.aspx?Show=63514Thu, 14 Jan 2010 00:00:00 GMTPartner Larry Gottlieb comments on the difficulty of bankruptcy reform for debtors. The powerful financial-services lobby continues to thwart efforts made to change the 2005 creditor-friendly amendments to the U.S. Bankruptcy Code, which some experts say made restructurings ...http://www.cooley.com/showinthenews.aspx?Show=63656Mon, 04 Jan 2010 00:00:00 GMTPartners Larry Gottlieb and Jay Indyke comment on favorable strategies used by retailers to avoid otherwise certain bankruptcy.   For those with a subscription, please login to The Daily Bankruptcy Review online to view the full article, "Amid Rash Of Failures, S...http://www.cooley.com/showinthenews.aspx?Show=63658Mon, 04 Jan 2010 00:00:00 GMTPartner Jay Indyke is quoted in The Deal's Pipeline regarding the bankruptcy auction for Ritz Camera Centers store, which filed for bankruptcy on Feb. 22, 2009. Cooley represents the official committee of unsecured creditors of Ritz. View the article. http://www.cooley.com/showinthenews.aspx?Show=63411Wed, 18 Nov 2009 00:00:00 GMTMovers > Distinctions Cooley Godward Kronish (Palo Alto, Calif.): Ronald Sussman, a partner in the firm's bankruptcy and restructuring practice in New York, was elected vice president of public affairs for the Turnaround Management Association. Sussman will serve a one-year term starting Jan. 1...http://www.cooley.com/showinthenews.aspx?Show=63323Mon, 02 Nov 2009 00:00:00 GMTOctober 28, 2009 – Law & Politics magazine recognized 97 Cooley Godward Kronish attorneys in its 2009 Super Lawyers publications. Only five percent of the lawyers in the each state or region are honored by Super Lawyers. Most notable among the distinctions was the naming of Alan Lev...http://www.cooley.com/showpressrelease.aspx?Show=63267Wed, 28 Oct 2009 00:00:00 GMTPersonal Notes on Lawyers Ronald Sussman, a partner in the bankruptcy and restructuring practice at Cooley Godward Kronish, was elected vice president of public affairs for the Turnaround Management Association, a international non-profit group dedicated to corporate renewal and turnaround manageme...http://www.cooley.com/showinthenews.aspx?Show=63322Fri, 16 Oct 2009 00:00:00 GMTNew York -- Oct. 15, 2009 -- Ronald Sussman, a partner in the Bankruptcy & Restructuring practice at Cooley Godward Kronish, was elected to serve as the vice president of public affairs for the Turnaround Management Association (TMA). The one-year term begins Jan. 1, 2010.  The Chicago-base...http://www.cooley.com/showpressrelease.aspx?Show=63247Thu, 15 Oct 2009 00:00:00 GMTNew York – Sept. 17, 2009 – Cooley Godward Kronish LLP announced today that the Bankruptcy and Restructuring practice group was retained to represent the unsecured creditors committee in the bankruptcy proceedings of Samsonite Co. Stores, the U.S. retail division of luggage maker Samsonite Corp. &nb...http://www.cooley.com/showpressrelease.aspx?Show=63150Thu, 17 Sep 2009 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector. This issue discusses: Congressman Nadler Seeks BAPCPA Repeal Through Business Reorganization and Job Preservation Act of 2009 SDNY Approves Fast Track Section 363 Sale of General Motors Supreme Court Halts Pension...http://www.cooley.com/showarticle.aspx?Show=63142Wed, 16 Sep 2009 00:00:00 GMTIn early April, Irving Picard, the trustee overseeing the liquidation of Madoff Securities LLC, filed suit, seeking to recover funds disbursed to investors in the months prior to the collapse of disgraced financier Bernard Madoff's epic Ponzi scheme. The suit, likely the first of many, represents a ...http://www.cooley.com/showarticle.aspx?Show=62970Sat, 01 Aug 2009 00:00:00 GMTPartner Jay Indyke is quoted on the sale of Ritz Camera to its chairman, David Ritz --likely saving the nation's No. 1 photo retailer from liquidation. View the articlehttp://www.cooley.com/showinthenews.aspx?Show=63006Wed, 22 Jul 2009 00:00:00 GMTPartner Cathy Hershcopf comments on the bankruptcy auction for Eddie Bauer Holdings won by Golden Gate Capital. Cooley represents the Official Committee of Unsecured Creditors in the Eddie Bauer bankruptcy proceedings. View the article http://www.cooley.com/showinthenews.aspx?Show=62960Fri, 17 Jul 2009 00:00:00 GMTNew York - July 6, 2009 - Cooley Godward Kronish was ranked #7 among the most active Bankruptcy & Restructuring practices in the U.S. by The Deal magazine.  The publication's league tables, released on June 24 and covering all active cases through March 31, 2009, listed ...http://www.cooley.com/showpressrelease.aspx?Show=62838Mon, 06 Jul 2009 00:00:00 GMTPalo Alto, Calif. – June 24, 2009 – Cooley Godward Kronish LLP announced today that nine of its practice groups and 19 of its attorneys were recognized in The Legal 500 United States 2009.  The Legal 500 is a comprehensive guide to the legal market offering recommendations of law firms and...http://www.cooley.com/showpressrelease.aspx?Show=62700Wed, 24 Jun 2009 00:00:00 GMTPartner Ron Sussman is quoted regarding U.S. Bankruptcy Judge Arthur Gonzalez, who is assigned to oversee the Chapter 11 case of Chrysler. Sussman had represented former Enron employees in bankruptcy precedings presided over by Judge Gonzalez. View the article http://www.cooley.com/showinthenews.aspx?Show=59020Fri, 01 May 2009 00:00:00 GMTAs we all know, 2008 and 2009 have presented us with an extremely challenging business environment, one which many companies were unprepared to face. While there is no mystery as to why we've seen an increase in the number of transaction involving distressed companies, the risks, benefits and struct...http://www.cooley.com/showarticle.aspx?Show=58995Thu, 16 Apr 2009 00:00:00 GMTNews, trends and developments from the continually evolving bankruptcy sector. This issue discusses the recovery efforts of jilted investors of the Bernard Madoff debacle and highlights recent developments in bankruptcy law, including the impact of the revised definition of&nbsp...http://www.cooley.com/showarticle.aspx?Show=62246Tue, 14 Apr 2009 00:00:00 GMTPartner Larry Gottlieb comments on the results of the auction for department store chain Gottschalks after it failed to attract a buyer. The winning bid represented an increased worth of approximately $14 million from the original bid.http://www.cooley.com/showinthenews.aspx?Show=58980Tue, 31 Mar 2009 00:00:00 GMTPartner Jay Indyke comments on the effects that the 2005 amendments to the U.S. Bankruptcy Code have had on retail bankruptcies. View the article http://www.cooley.com/showinthenews.aspx?Show=58981Wed, 25 Mar 2009 00:00:00 GMTPartner James Beldner discussed the successful effort to reclaim $30 million in "retention" bonuses paid to executives and traders at Enron just prior to the company's bankruptcy filing in 2001. An employee committee, represented by Beldner, will disburse payments to former Enron employees who were ...http://www.cooley.com/showinthenews.aspx?Show=58993Wed, 18 Mar 2009 00:00:00 GMTIn an article analyzing the current retail bankruptcy landscape, Partner Larry Gottlieb contributes commentary on the role played by suppliers in the survival of a company.View the article http://www.cooley.com/showinthenews.aspx?Show=58961Fri, 06 Mar 2009 00:00:00 GMTPartner Larry Gottlieb was quoted in a Bloomberg article describing efforts to make the US bankruptcy code less prohibitive for retailers to restructure.View the articlehttp://www.cooley.com/showinthenews.aspx?Show=58948Fri, 27 Feb 2009 00:00:00 GMTThe fall from grace of Lehman Brothers, the venerable investment bank, was brutally fast. Until June 2008, it had never even reported a quarterly loss as a public company. As recently as March 2008, Lehman Brothers CEO Dick Fuld was awarded a $22 million bonus for 2007, a generous compensation packa...http://www.cooley.com/showalert.aspx?Show=58920Tue, 03 Feb 2009 00:00:00 GMTA recent article in The Journal of Corporate Renewal, "Is BAPCPA Unfairly Blamed for Rash of Retail Liquidations?" (December 2008), argued that the Bankruptcy Reform Act of 2005 (BAPCPA) has been unfairly blamed for the spate of Chapter 11 liquidations that have plagued the Ameri...http://www.cooley.com/showarticle.aspx?Show=58934Sun, 01 Feb 2009 00:00:00 GMTPartners Lawrence Gottlieb, Ronald Sussman and Associate Michael Klein authored this exploration of the effect of the Bankruptcy Reform Act of 2005 on Chapter 11 liquidations. The article was featured in The Journal of Corporate Renewal (February 2009). View the article http://www.cooley.com/showinthenews.aspx?Show=58946Sun, 01 Feb 2009 00:00:00 GMTCHICAGO, Nov 04, 2008 /PRNewswire via COMTEX/ -- Turnaround Management Association (TMA), the only international non-profit association dedicated to corporate renewal and turnaround management, announced its 2009 officers at the 20th Annual Convention last week at the New Orleans Marriott. Their one...http://www.cooley.com/showinthenews.aspx?Show=58888Tue, 04 Nov 2008 00:00:00 GMTNew York – October 22, 2008 – Cooley Godward Kronish announced today that Goody’s Family Clothing, Inc. (Goody’s), a moderately priced family apparel retailer operating 287 stores in 20 states, has emerged from Chapter 11 bankruptcy. Cooley was counsel to Goody’s official committee of unsecured cred...http://www.cooley.com/showpressrelease.aspx?Show=58845Wed, 22 Oct 2008 00:00:00 GMTNew York, NY – October 10, 2008 – Lawrence Gottlieb, Chair of Cooley Godward Kronish LLP’s Bankruptcy & Restructuring Group, appeared recently before the U.S. House Judiciary Subcommittee on Commercial and Administrative Law to inform key members of Congress about the impact of 2005 bankruptcy code ...http://www.cooley.com/showpressrelease.aspx?Show=58830Fri, 10 Oct 2008 00:00:00 GMTThe last five years have witnessed an explosion in second lien financings. Struggling companies that could not find alternative financing elsewhere and otherwise would have been without sufficient operating capital were provided with access to additional liquidity. This additional capital often cam...http://www.cooley.com/showarticle.aspx?Show=58842Wed, 01 Oct 2008 00:00:00 GMTOn May 1, 2008, Cooley Godward Kronish LLP's bankruptcy litigation team, acting as counsel to the Official Employment-Related Issues Committee of Enron Corp. (the "Employee Committee"), obtained a court-approved settlement of $850,000 from the Estate of John Cliff Baxter (the "Baxter Estate"), ...http://www.cooley.com/showarticle.aspx?Show=58793Fri, 01 Aug 2008 00:00:00 GMTNEW YORK, NY – June 11, 2008 – Hancock Fabrics, Inc., a specialty retailer of fashion and home decorating textiles, sewing accessories and needlecraft supplies, announced it has filed a Plan of Reorganization (Plan) under Chapter 11 of the bankruptcy code with the United States Bankruptcy Court for ...http://www.cooley.com/showpressrelease.aspx?Show=58731Wed, 11 Jun 2008 00:00:00 GMTOver the last several months, we have seen a proliferation of Chapter 11 cases hitting all aspects of the marketplace—from mid-size to larger companies. Behind the public chapter 11 filings themselves are a myriad of distressed companies seeking to avoid a formal proceeding through out-of-court work...http://www.cooley.com/showarticle.aspx?Show=62255Mon, 19 May 2008 00:00:00 GMTBankuptcy & Restructuring Partner Jay Indyke is quoted in a report on  the increasingly common practice of "gifting," whereby secured creditors surrender a portion of the repayment they are entitled to collect to unsecured creditors, during the Chapter 11 restructuring process. http://www.cooley.com/showinthenews.aspx?Show=58727Fri, 16 May 2008 00:00:00 GMTIn an article in the February edition of the Journal of Corporate Renewal, Faye B. Feinstein and Lauren Nachinson examined the recent decision rendered by U.S. Bankruptcy Court Judge Kevin Gross of the District of Delaware in In re Plassein International Corporation, 366 B.R. 318 (Bankr. D. Del 2007...http://www.cooley.com/showarticle.aspx?Show=58722Thu, 01 May 2008 00:00:00 GMTNew York – May 1, 2008 – Cooley Godward Kronish’s bankruptcy litigation team, acting as counsel to the Enron Employee Committee, today obtained a court-approved settlement of $850,000 from the Estate of Cliff Baxter, a former “Top Hat” executive of Enron.  To date, the value of recoveries achieved b...http://www.cooley.com/showpressrelease.aspx?Show=58707Thu, 01 May 2008 00:00:00 GMTNew York, NY - April 21, 2008 - Cooley Godward Kronish announced today that the Firm’s Bankruptcy and Restructuring group has been selected as committee counsel in several major retail insolvencies in recent months.  Led by Partner Larry Gottlieb, the group is representing creditors’ committees for ...http://www.cooley.com/showpressrelease.aspx?Show=58699Mon, 21 Apr 2008 00:00:00 GMTWhen negotiating forbearance agreements, real estate lenders consider including a provision waiving the automatic stay in the event the borrower later files bankruptcy. A new decision from the United States Bankruptcy Court for the Southern District of Florida addressed the enforceability of just su...http://www.cooley.com/showalert.aspx?Show=58680Thu, 13 Mar 2008 00:00:00 GMTArticles in this issue: Bankruptcy and Intellectual Property Rights: Can They Live Side by Side Under Israeli Law?Duty to ‘Act Fairly' Under Israeli Companies LawReverse Triangular Mergers and Mergers of Public Companies under Israeli Law: New Ruling by the Tel-Aviv District CourtVIEW NEWSLETTERhttp://www.cooley.com/showarticle.aspx?Show=62257Tue, 05 Feb 2008 00:00:00 GMTSixteen years ago, the Delaware Chancery Court's decision in Credit Lyonnais Bank Nederland v. Pathe Communications Corp., 1991 WL 277613 (Del. Ch. 1991), helped introduce the terms "vicinity of insolvency" and "zone of insolvency" into the lexicon of the legal and business communities. Based in pa...http://www.cooley.com/showarticle.aspx?Show=58671Fri, 01 Feb 2008 00:00:00 GMTOn December 1st of almost every year, amendments to the Federal Rules of Bankruptcy Procedure — the ones that govern how bankruptcy cases are managed — take effect to address issues identified by an advisory committee made up of federal judges, bankruptcy attorneys, and others. Often the changes are...http://www.cooley.com/showarticle.aspx?Show=58672Tue, 01 Jan 2008 00:00:00 GMTOn December 1st of almost every year, amendments to the Federal Rules of Bankruptcy Procedure—the ones that govern how bankruptcy cases are managed—take effect to address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Often the changes are rel...http://www.cooley.com/showalert.aspx?Show=58616Wed, 19 Dec 2007 00:00:00 GMTNew York, NY – July 31, 2007 - Cooley Godward Kronish LLP's bankruptcy and restructuring practice has prevailed for the unsecured creditors of Norstan's, a women's budget retailer, in obtaining the desired settlement of a $67 million fraudulent transfer lawsuit arising out of a $53 million leve...http://www.cooley.com/showpressrelease.aspx?Show=58527Tue, 31 Jul 2007 00:00:00 GMTSecond-lien lending transactions have grown substantially in the past decade - and so have the intercreditor agreements that accompany them. But these intercreditor agreements have not been tested significantly by the bankruptcy courts, leaving many questions as to their enforceability unanswered, p...http://www.cooley.com/showinthenews.aspx?Show=58537Tue, 15 May 2007 00:00:00 GMTNew York, NY - April 5, 2007 - Cooley Godward Kronish LLP's bankruptcy and restructuring practice has prevailed for the unsecured creditors of Norstan's, a women's budget retailer, in the denial of a motion to dismiss a $67 million fraudulent transfer lawsuit arising out of a $53 mill...http://www.cooley.com/showpressrelease.aspx?Show=58443Thu, 05 Apr 2007 00:00:00 GMTNew York   –  January 30, 2007 – Cooley Godward Kronish's Bankruptcy and Restructuring Practice is advising former New York Met baseball player Mo Vaughn and his partner, Eugene Schneur, in their dramatic effort to transform a housing development in Brooklyn, N.Y. On Januar...http://www.cooley.com/showpressrelease.aspx?Show=58405Tue, 30 Jan 2007 00:00:00 GMTWelcome to the inaugural issue of Absolute Priority–Current Developments in Bankruptcies and Workouts to Keep You Ahead of the Curve, the quarterly newsletter from Cooley Godward Kronish's Bankruptcy & Resctructuring Group. What an exciting time for us to launch our new publication aimed at keep...http://www.cooley.com/showarticle.aspx?Show=62264Thu, 28 Dec 2006 00:00:00 GMTEugene, OR – December 12, 2006 — Cooley Godward Kronish's Bankruptcy & Restructuring practice group has secured two winning verdicts in recent trials in the Troutman's Emporium bankruptcy case. Representing the interests of the Official Committee of Unsecured Creditors in Troutman's, Coole...http://www.cooley.com/showpressrelease.aspx?Show=58382Tue, 12 Dec 2006 00:00:00 GMTNew York, NY – December 12, 2006 — The Enron Employee Committee has obtained a judgment for more than $2.1 million from former Enron trader Timothy Belden, who had previously been convicted for manipulating California energy prices.  Pursuant to a forfeiture agreement with the federal governme...http://www.cooley.com/showpressrelease.aspx?Show=58383Tue, 12 Dec 2006 00:00:00 GMTDeepening insolvency is a developing theory of law that entails the wrongful prolongation of a corporation's life beyond insolvency, thereby resulting in damage to the corporation caused by, e.g., increased debt, dissipation of assets, and/or decreased reputation. Originally only a theory of damages...http://www.cooley.com/showarticle.aspx?Show=58390Wed, 06 Dec 2006 00:00:00 GMTNew York, NY — November 1, 2006 — Ronald R. Sussman, a partner in Cooley Godward Kronish's industry-leading Bankruptcy & Restructuring Practice, has been named to two leadership positions within important associations in the bankruptcy sector. Mr. Sussman was re-elected to the Bo...http://www.cooley.com/showpressrelease.aspx?Show=58349Wed, 01 Nov 2006 00:00:00 GMTNew York, NY (Sept. 19, 2006) -- In a decision dated September 15, 2006, United States Bankruptcy Court Judge Arthur J. Gonzalez of the Southern District of New York decided in favor of the creditors of Enron in an action brought by Kronish Lieb Weiner & Hellman LLP, representing the Employee Commit...http://www.cooley.com/showpressrelease.aspx?Show=58306Tue, 19 Sep 2006 00:00:00 GMTABSTRACT As the most far-reaching amendments to the Bankruptcy Code since 1978 came into effect, lawyers speculated anxiously as to how courts would implement new and tougher standards for approval of executive compensation regimes for companies in Chapter 11. After nearly six months of judicial ac...http://www.cooley.com/showarticle.aspx?Show=58459Fri, 28 Jul 2006 00:00:00 GMTKronish Lieb’s Bankruptcy & Restructuring Group, which has been representing the Employee Committee of Enron, continues to pursue the reimbursement of accelerated deferred compensation made to select top hat employees of Enron in the month before the company’s bankruptcy filing. On Th...http://www.cooley.com/shownewsbrief.aspx?Show=58274Wed, 24 May 2006 00:00:00 GMTKronish Lieb partner Ronald R. Sussman of the Firm's Bankruptcy & Restructuring Group cautioned an audience at a New York Institute of Credit event on the dangerous impact of an emerging trend in bankruptcy law called "Deepening Insolvency." The conference, conducted on April 25 and co-hosted by ...http://www.cooley.com/showpressrelease.aspx?Show=58286Wed, 26 Apr 2006 00:00:00 GMTKronish Lieb’s Bankruptcy & Restructuring Group has filed a complaint in the U.S. Bankruptcy Court for the Southern District of New York on behalf of the Official Committee of Unsecured Creditors of Levitz Home Furnishings, Inc. As reported in The Troubled Company Reporter, Kronish Lieb represents t...http://www.cooley.com/shownewsbrief.aspx?Show=58275Fri, 14 Apr 2006 00:00:00 GMTKronish Lieb Weiner & Hellman's Bankruptcy & Restructuring Group is ranked number one in the current league tables for Top Unsecured Creditor Law Firms. The rankings, through Feb. 23, 2006, rate the law firms according to the number of active cases. Kronish Lieb currently has 45 active cases, six ah...http://www.cooley.com/showpressrelease.aspx?Show=58287Thu, 09 Mar 2006 00:00:00 GMTKronish Lieb's Bankruptcy and Restructuring Group has played a leading role in securing a full pay, 100% distribution, plus 4.25% interest per annum, for unsecured creditors in the chapter 11 bankruptcy case of specialty footwear retailer Footstar, Inc. and its now reorganized discount and family fo...http://www.cooley.com/showpressrelease.aspx?Show=58288Tue, 31 Jan 2006 00:00:00 GMTKronish Lieb's Bankruptcy and Restructuring Group has played a key role in securing a 98.5% total distribution for unsecured creditors in the Chapter 11 bankruptcy of Bob's Stores, the casual clothing and footwear chain. Early in the bankruptcy proceeding, the return for unsecured creditors was proj...http://www.cooley.com/showpressrelease.aspx?Show=58289Thu, 19 Jan 2006 00:00:00 GMTThe right to use intellectual property is gernerally not transferred by sale or assignment.  Limited rights to use the intellectual property in a certain manner and for certain purposes are typically transferred by means of a license agreement.  Because the licensee does not own title to the license...http://www.cooley.com/showarticle.aspx?Show=58155Sun, 01 Jan 2006 00:00:00 GMTIn a 102-page Memorandum of Decision and Order dated December 9, 2005, the United States Bankruptcy court for the Southern District of Texas, Houston Division rendered a Final Judgment in favor of the Official Employement-Related Issues Committee of Enron Corp. (the "Employee Committee") against 17 ...http://www.cooley.com/showpressrelease.aspx?Show=58290Mon, 12 Dec 2005 00:00:00 GMTKronish Lieb Bankruptcy partner  Ronald R. Sussman has been elected to the international board of directors of the Association of Certified Turnaround Professionals ("ACTP").  ACTP is the organization which provides the education, testing and certification of restructuring professionals in conjuncti...http://www.cooley.com/showpressrelease.aspx?Show=58291Wed, 19 Oct 2005 00:00:00 GMTToday the partnership of Kronish Lieb Weiner & Hellman LLP announced that  Adam C. Rogoff has joined the Firm as a partner in the bankruptcy and restructuring practice. Mr. Rogoff arrives with eighteen years of legal experience representing a wide variety of clients and interests in restructuring...http://www.cooley.com/showpressrelease.aspx?Show=58292Mon, 17 Oct 2005 00:00:00 GMTJay Indyke, a partner in the Firm's Bankruptcy & Corporate Restructuring Department, recently co-authored one of the first published articles on the new business bankruptcy amendments which go into effect on October 17, 2005. The article is entitled "New Bankruptcy Code Amendments: Major Changes Shi...http://www.cooley.com/shownewsbrief.aspx?Show=58276Tue, 13 Sep 2005 00:00:00 GMTIn a decision published yesterday, the United States District Court for the Southern District of New York upheld the decision of the United States Bankruptcy Court for the Southern District of New York in striking down the franchise fees charged by Montgomery County, Maryland to Metromedia Fiber Net...http://www.cooley.com/shownewsbrief.aspx?Show=58277Thu, 30 Jun 2005 00:00:00 GMTOn April 20, 2005, after nine years of heavy lobbying efforts and political in-fighting, President Bush signed into law the Bankruptcy Abuse Prevention and Consumer Protection Act (“BAPCPA”). Although a few of the provisions enacted in the more than 500 page bill became law upon signing, the vast ma...http://www.cooley.com/showalert.aspx?Show=57873Wed, 11 May 2005 00:00:00 GMTThe Daily Bankruptcy Review, a nationally circulated publication among insolvency professionals, ran a story in its April 27, 2005 edition entitled: "Bankruptcy Bill Fails To Close Loophole On Executive Payouts", citing Kronish Lieb bankruptcy partner Ronald R. Sussman.  Mr. Sussman explained how an...http://www.cooley.com/showinthenews.aspx?Show=58281Wed, 27 Apr 2005 00:00:00 GMTThe April 2005 edition of "Bankruptcy Law Litigation " touts a recent Kronish Lieb victory in the Enron case under the banner headline, “Judges won’t expand due process to accommodate Enron Execs.” The article cites the bankruptcy court’s denial of motions to dismiss filed by two former “top hat” En...http://www.cooley.com/shownewsbrief.aspx?Show=58278Fri, 15 Apr 2005 00:00:00 GMTIn a press release dated April 4, 2005, Joseph Myers, a partner and managing director of Clear Thinking Group, LLC and Liquidating Trustee for BSI Holding Co., Inc. (formerly known as Bob's Stores), announced that BSI's unsecured creditors have been issued the third partial distribution of thei...http://www.cooley.com/shownewsbrief.aspx?Show=58279Mon, 04 Apr 2005 00:00:00 GMTThe Delaware Court of Chancery has addressed key questions involving the obligations of and protections afforded to directors of insolvent corporations. In Production Resources Group, L.L.C. v. NCT Group, Inc., 863 A.2d 772 (Del. Ch. Nov. 17, 2004), Vice Chancellor Strine of the Court of Chancery ar...http://www.cooley.com/showalert.aspx?Show=57839Tue, 22 Mar 2005 00:00:00 GMTGetting into the Game So you have your eye on a company that is circling the drain, and want to purchase its assets?    Insolvent or near-insolvent companies often present an opportunity to purchase assets at significantly reduced cost.  A buyer purchasing assets from a troubled company wants to mak...http://www.cooley.com/showalert.aspx?Show=57804Thu, 10 Feb 2005 00:00:00 GMTAll of us have had to deal with a past due account caused by a customer's financial difficulties. While the familiar problem of not being fully paid is bad enough, the United States Bankruptcy Code can add an entirely different wrinkle to the problem: the preference. Without some planning, an unhapp...http://www.cooley.com/showalert.aspx?Show=57778Tue, 07 Dec 2004 00:00:00 GMTJay R. Indyke, a Kronish Lieb Bankruptcy partner, represented the Creditors’ Committee in the Bob’s Stores bankruptcy case and participated in a four-day competitive auction which resulted in a $113.5 million sale to Framingham Massachusetts-based TJX Cos., the owner of T.J. Maxx and Marshalls cloth...http://www.cooley.com/shownewsbrief.aspx?Show=58280Sat, 10 Jan 2004 00:00:00 GMTIn determining what is "proprietary of the estate" for the purpose of applying the automatic stay in chapter 13 cases, courts provide three distinct interpretations of the relevant provisions of the Bankruptcy Code (the "Code").  Judge Eugene Wedoff has labeled these approaches "estate termination,"...http://www.cooley.com/showarticle.aspx?Show=58517Wed, 03 Mar 1999 00:00:00 GMT