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In this post, I will discuss executory contracts and ipso facto clauses. These are both important basic concepts for bankruptcy proceedings, especially Chapter 11 proceedings (commonly known as a “reorganization” as opposed to a “liquidation” under Chapter 7). 1. Executory Contracts Though the name may sound daunting, an executory contract is simply a contract that
When I was starting my career as a lawyer in the early 2000s, alternative dispute resolution (ADR) became very popular. ADR includes mediation and arbitration. During that time in my career, I was working mostly on transactional matters and some of the senior lawyers told me it could be legal malpractice not to at least
Ongoing economic turmoil makes now the right time to discuss U.S. bankruptcies and preference actions. In the United States and much of the world, inflation is running out of control and there are asset bubbles everywhere you look – housing, real estate in general, used and new cars, and so on. Between the war in
Arbitration is often the preferred, if not contractually required, forum for resolving business disputes. This is primarily because of arbitration’s perceived efficiencies in cost and time-to-resolution as compared to litigation in U.S. state or federal courts. Federal law has embraced arbitration through the Federal Arbitration Act (“FAA”), which, as interpreted by the U.S. Supreme Court,
This post concerns a recent Sixth Circuit decision at the intersection of removal and the interlocutory appeal doctrines as they apply to preliminary injunctions. The case is Schuler v. Adams, No. 21-1613 (Mar. 7, 2022). (Fair warning – this post is bit of procedural wonkiness – something I have a fondness for but others find
Over the years, “Alternative Dispute Resolution” (ADR) has become more and more prevelant in both contract drafting as well as litigation. Far from being an “alternative,” most disputes at some point will involve some degree of ADR, whether required by contract, by the courts, or driven by the costs of litigation. Despite the name “alternative,”
Disputes with Chinese companies are becoming increasingly common, yet they are not becoming any easier to resolve. Mainland Chinese courts do not enforce U.S. judgments. Therefore, it is usually (but not always) a waste of time to bring a lawsuit in a U.S. court against a Chinese company that does not have assets in either
It is not uncommon to receive a call from a prospective client requesting assistance when they are owed money from a company that has just filed bankruptcy. While there are many factors to evaluate, one of the core issues is how to make a claim in bankruptcy. Whether you are owed $1 or $1,000,000,000, the
This post is on the recognition of foreign judgments in United States Courts. More particularly, it is on the law U.S. courts look to when deciding whether to enforce a foreign court judgment, the foreign judgments they will enforce, and the procedures they use to determine whether to enforce. Winning a foreign lawsuit is one
As the country with the world’s largest economy, the United States offers some of the best business opportunities in the world. However, the US legal system can also pose complex regulatory hurdles for foreign enterprises. Navigating these legal intricacies is crucial for foreign companies seeking to minimize risk and operate successfully in the expansive US commercial
