Bankruptcy & Restructuring News & Analysis
FreshRealm: A Liquidating Plan Funded by the Customer That Left
A meal kit manufacturer lost 90 percent of its revenue to five incidents, then converted the resulting contract fight into the primary source of cash in its Chapter 11 plan
Irrevocable by Design: A Checked Box, a Confirmed Plan, and the Limits of Creditor Relief
The Third Circuit has affirmed the denial of two Boy Scouts of America abuse claimants' requests to undo their $3,500 Expedited Distribution elections, resting on plain plan language and on the statutory rule that creditors cannot modify a confirmed plan
Alea Holdings US Company: Capital Structure, Liabilities, and the Path to Confirmation
Three insurance holding companies entered Chapter 11 in the Southern District of Texas with a plan, a disclosure statement, and a signed restructuring support agreement already in place. The filing exists because an out-of-court tender offer that drew no opposition still could not reach 100 percent participation
Simply Interior Homes: A Liquidating Plan That Turns on Preserved Litigation Claims
The combined disclosure statement and plan filed in the District of Delaware projects "Unknown" recoveries for all three voting classes and states that retained causes of action constitute the majority of the liquidating trust assets
Pricing the Transfer: A First-Impression Framework for Valuing Appreciating Digital Assets in Avoidance Actions
In the Celsius avoidance litigation, the Bankruptcy Court for the Southern District of New York ties Section 550 recovery to whether a transferred asset gained or lost value, whether the defendant still holds it, and what the defendant actually realized on sale, rejecting a single valuation date for all appreciating cryptocurrency.