On March 1, 2021, Brazos Electric Power Cooperative, Inc. filed for chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of Texas. In its first-day pleadings, Brazos cited the catastrophic weather events in Texas in February as the sole cause of the company’s insolvency.
Committees
On March 11, 2021, Cred. Inc. and its affiliates confirmed a liquidating plan under chapter 11 of the U.S. Bankruptcy Code.
Despite the challenges of the COVID-19 pandemic, 2020 was a successful year for the Emerging Industries and Technology Committee. Committee membership has steadily increased over the last year.
As ABI President Hon.
Insolvency professionals have limited options to consider when counseling small business clients in financial distress who wish to continue operating their business. On the federal level, practitioners may choose to file a traditional chapter 11 reorganization or a small business bankruptcy under subchapter V.
It is now widely known that the novel coronavirus (COVID-19) pandemic changed society for a variety of industries, whom either have deteriorated significantly or now cease to exist.
A local group of bankruptcy judges and insolvency professionals has published recommendations for ways that the U.S.
The new year brings several changes to bankruptcy practice through the enactment of the Consolidated Appropriations Act, 2021 (CAA), which augments the CARES Act by expanding the Paycheck Protection Program (PPP), adding stimulus programs and installing coronavirus relief valves for troubled sectors of the economy.[1] Those relief valv
Recent allegations of impropriety of bidders in the reorganization of Neiman Marcus Group Ltd. LLC should serve as a reminder to study the line between mere auction strategy and collusive bidding. The word “collusion” itself seems to cause confusion whenever it is uttered in the political or legal realms.
One of the hallmarks of purchasing assets from a bankruptcy estate under § 363 of the Bankruptcy Code is the perceived ability of a buyer to purchase those assets “free and clear of any interest in such property” if certain conditions are met.[1] A common phrasing in many motions seeking to sell assets under § 363 is that the assets ar
