Over the past decade, debtors have increasingly used the protections of Chapter 11 to sell substantially all of their assets in sales under section 363 of the Bankruptcy Code. As a result, post-sale debtors frequently have next to nothing left to reorganize […]
As far as employee compensation agreements are concerned, Texas employers are riding a wave of pro-business precedent to recoup bonus pay from employees. The Supreme Court of Texas’ recent opinion in ExxonMobil Corporation v. Drennen continues the […]
The Texas Agricultural Code requires milk processors to hold funds in trust for the benefit of milk producers, including dairies and cooperatives. A trust fund is a powerful tool that will allow a milk producer to be paid ahead of other creditors […]
Debtor-in-possession financing ("DIP financing") is a critical issue that comes up at the beginning of most large to mid-sized bankruptcy cases. Companies filing bankruptcy are typically doomed to a rapid liquidation if they are unable to obtain new […]
Learning how to defend a preferential transfer action is a particularly useful art for the credit professional. In Part One, we discussed the Bankruptcy Code's specific requirements that must be established by the debtor or trustee in order for a transfer […]
The word “bankruptcy” often strikes dread in the hearts of creditors. To some, when they hear that someone who owes them money has filed bankruptcy, they envision writing off the debt and never receiving a cent. However, all is […]
A recent decision by the full contingent of judges from the Eighth Circuit Court of Appeals (covering seven Midwest states) demonstrates that a common bankruptcy term should be added to your vocabulary. That term is "executory." […]
On June 30, 2014, the United States Supreme Court issued a ruling which held that a closely held, for-profit entity can object to certain aspects of the birth control mandate imposed by the Patient Protection and Affordable Care Act by invoking the Religious […]
The National Labor Relations Board created a stir last week when it announced that it intends to hold McDonald's USA responsible for its franchisees’ violations of employment law. The announcement has created concern and consternation among businesses […]
In Texas, criminal background checks are generally limited to a seven (7) year review period. However, Texas Business and Commerce Code § 20.05 provides an exception if an applicant is applying to a job with an annual salary that exceeds or should […]
As spring rolls into summer, bankruptcy lawyers await the Supreme Court's decision in Executive Benefits Insurance Agency v. Arkinson. With the Supreme Court's term ending June 30, 2014, some wonder if the Court will, in fact, declare bankruptcy […]
It's generally known that Bankruptcy Code section 547(b)(4)(A) provides that for non-insider creditors, a preferential transfer is one made "on or within 90 days before the date of the filing of the petition." The calculation of the 90-day "preference […]