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Buyer Beware: Bankruptcy Assets not “Free and Clear” if Due Process is Lacking

USA - February 28 2017 One of the most powerful and oft used devices in bankruptcy is the sale of assets “free and clear” of liens, claims and interests. One issue a buyer...


Can the Corporate Veil be Pierced Against a Former Shareholder?

USA - October 19 2016 A recent opinion issued by the United States District Court for the Northern District of Illinois reminds us that corporate veil-piercing liability is...


Tranquil waters once again in the safe harbor: Bankruptcy safe harbor protects shareholders from state constructive fraud claims

USA - April 13 2016 Shareholders who received nearly $8 billion from the Tribune Company leveraged buyout (LBO) do not have to give back that money as a constructive...


Oil, Gas and Mineral Companies Take Note: Agreements Purporting to “Run with the Land” may be Rejected in Bankruptcy

USA - April 6 2016 A recent bankruptcy court decision from the influential Southern District of New York permitted a debtor to reject executory contracts with midstream...


Directors and officers’ ultimate escape from personal liability

USA - March 15 2016 In the Ultimate Escapes bankruptcy case, the U.S. District Court for the District of Delaware recently held that the "business judgment rule" may...