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Kleinberg Kaplan Partners Matthew Gold, Dov Kleiner and Michael Levine Published in Pratt’s Journal of Bankruptcy Law

A recent client alert written by Kleinberg Kaplan partners Matthew Gold, Dov Kleiner and Michael Levine has been re-published in the November/December edition of Pratt’s Journal of Bankruptcy Law. The article, “New York Court Adopts Majority ‘Taint Travels’ Rule” highlights the Firestar Diamond, Inc. decision by the New York Bankruptcy Court which is the latest…

FEATURED PUBLICATION | November 11, 2020 | Creditors’ Rights and Bankruptcy Litigation

Safer Than Ever: Nine West Decision Buttresses Bankruptcy Safe Harbor

A recent decision by a New York district court confirms that the defendant-friendly holding of the Second Circuit’s Tribune decision (discussed in our prior alert) will be applied broadly to benefit defendants and rejects efforts by plaintiffs to work around Tribune. The decision, In re Nine West LBO Securities Litigation, reaffirms the vitality of the…

Client Alerts | September 22, 2020 | Creditors’ Rights and Bankruptcy Litigation

All’s Fair That Is Not Unfair: Third Circuit Refuses To Strictly Enforce Subordination Agreement In Cramdown

The Third Circuit Court of Appeals has affirmed the confirmation of a plan of reorganization that did not strictly enforce the subordination provisions of certain public debt issuances. The decision, In re Tribune Co., illustrates limits to the utility of subordination agreements and provides a new standard for the implementation of the “unfair discrimination” test…

Client Alerts | September 2, 2020 | Creditors’ Rights and Bankruptcy Litigation

For Whom the Rent Tolls: Decision Suggests Tenants May Be Relieved of Rent Obligations

A recent unreported decision by a New York bankruptcy court suggests that commercial tenants whose operations were suspended under mandatory shutdown orders as a result of the pandemic may be able to escape their rent obligations that relate to the shutdown period. Background The debtor in the case, In re Edison Price Lighting, Inc., is…

Client Alerts | August 18, 2020 | Creditors’ Rights and Bankruptcy Litigation | Real Estate Litigation | Leasing

Helping Clients Navigate COVID-19 (Updating)

Kleinberg Kaplan is working closely with our clients to provide counsel and guidance during these unprecedented times. A selection of our recent thought leadership pieces related to the implications of COVID-19 includes: Corporate Considerations  The PPP Just Got Better (June 10, 2020): Chris Davis, Dov Kleiner, Uri Rosenwasser and Benjamin Goldman discuss the key highlights of the…

Client Alerts | August 18, 2020 | Business Restructuring and Reorganization | Creditors’ Rights and Bankruptcy Litigation | Derivatives | Distressed Real Estate Assets | Employment Litigation | Estate Planning and Administration | Hedge Funds | Investment Management | Investor Activism | Leasing | Mergers & Acquisitions | Nonprofit and Tax-Exempt Organizations | Private Equity Funds | Securities and Corporate Finance | Special Situations and Credit

Triple Flip Flop: Safe Harbor Sinks Lehman Appeal

The Second Circuit has affirmed, on appeal, the dismissal of an attempt by the Lehman Brothers estate to unwind payments made in connection with a series of collateralized debt obligation (“CDO”) structures. The decision, Lehman Brothers Special Financing Inc. v. Branch Banking and Trust Company (In re Lehman Brothers Holdings, Inc.), marks the third time that…

Client Alerts | August 12, 2020 | Creditors’ Rights and Bankruptcy Litigation

Three for the Lenders

A series of recent decisions may provide boosts for the positions of lenders. Post-Petition Interest on an Oversecured Claim In re Family Pharmacy, Inc. held that Missouri law, like New York law, distinguishes between permissible default interest and impermissible penalties. However the case diverges from the majority view adopted by several circuit courts of appeal insofar…

Client Alerts | May 27, 2020 | Creditors’ Rights and Bankruptcy Litigation | Special Situations and Credit

Puttin’ on the Ritzen: Supreme Court Rules that Stay Relief Denial is Appealable

A recent Supreme Court decision, Ritzen Group Inc. v. Jackson Masonry, LLC, has enhanced the position of secured creditors and litigants in bankruptcy cases by allowing them to promptly challenge bankruptcy court rulings concerning the automatic stay. Background The case grew out of a sale of real property that did not close. The buyer (Ritzen) sued…

Client Alerts | January 23, 2020 | Creditors’ Rights and Bankruptcy Litigation