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Assignee’s pre- and post-petition attorney fees are compensable in a Chapter 7 bankruptcy

Francis X. Buckley, Jr. June 19, 2018

In a recent Chapter 11 case (and subsequent Chapter 7 case), an Illinois Northern District judge ruled that an assignee in an ABC could collect pre-petition and post-petition attorney fees and expenses. READ MORE

Ownership of Chapter 11 debtors can’t be retained without competition and credit bidding

Jeff Fink April 15, 2013

Owners of Chapter 11 bankruptcy debtors have long devised schemes to try to hold on to their ownership interests while stiffing the debtors’ creditors. In the past, owners attempted to do this by proposing reorganization plans that paid creditors only a portion of what they are owed while selling all of the equity in the reorganized debtor to the owner for a nominal new investment. READ MORE