The U.S. Court of Appeals for the Third Circuit recently became the first circuit court to address the question of whether a corporate parent can set off an obligation that it owes to a bankrupt company against a claim owed
Continue Reading The Devil’s Triang(ular Setoff), Revisited – Third Circuit Affirms Denial of Corporate Parent’s Attempt to Set Off Debt Owed to Subsidiary
Judge Brendan Shannon
Blink and You Missed It – Emergency Sale of Digital Domain Media Approved
By Ben Feder on
Posted in Distressed M&A
Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware last week approved the sale of Digital Domain Media Group, the special effects company founded by James Cameron, following one of the fastest distressed m&a
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Continue Reading Blink and You Missed It – Emergency Sale of Digital Domain Media Approved
Court Tosses Life Vest to Trico Marine Services
By Ben Feder on
Posted in Chapter 11, DIP Financing
Some legal commentators have lamented the extent to which lenders have been able to use debtor in possession (“DIP”) financing arrangements to gain control over an entire Chapter 11 case. DIP lenders have usually been able to justify aggressive provisions, and
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Continue Reading Court Tosses Life Vest to Trico Marine Services