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Two recent Delaware cases illustrate how courts continue to scrutinize so-called “breakup fees” payable to “stalking horse” bidders in bankruptcy sales.

The meeting was called to order at 8:30 a.m. and Business Reorganization Committee Co-chair Robert Keach advised the attendees that the educational program was a joint presentation by the Business Reorganization Committee and the Investment Banking Committee. He then introduced Anthony Schnelling, co-chair of the Business Reorganization Committee, and welcomed Peter Kaufman, co-chair of the Investment Banking Committee.

A series of recent decisions brings clarity to issues involving retention of chapter 11 professionals. Chapter 11 counsel, financial advisors, investment bankers and accountants, as well as other professionals, should take note of a trio of recent decisions.

The influential Third Circuit Court of Appeals in Solow v. PPI Enterprises (U.S.) Inc., et al. (In re PPI Enterprises (U.S.) Inc., Docket No. 01-4140, March 28, 2003 (Scirica, J.) recently decided a case with potential for significant impact on commercial landlords.

In a recent decision, the U.S. District Court for the District of New Jersey, relying on the Circuit’s decision in In re Telegroup Inc., 281 F.3d 133 (3d Cir.

For those of you lucky enough to attend the Business Reorganization Committee’s excellent CLE panel at the Winter Leadership Conference in Tucson, Ariz., on gaming, destination resort and hotel chapter 11 cases, or to have purchased ABI’s CD-rom of 2002 Winter Leadership Conference educational materials, panelist Rudy Cerone has been kind enough to ass

In a recent decision, the U.S. District Court for the District of New Jersey, relying on the Circuit’s decision in In re Telegroup Inc., 281 F.3d 133 (3d Cir.

An admitted campaign by the Office of the United States Trustee to bar indemnity and exculpation provisions in retention agreements for financial advisors hired by trustees, debtors and committees is yielding some results in recent reported decisions.

Section 1146(c) of the Code provides that delivery of an instrument of transfer (such as a bill of sale or deed) “under a plan confirmed under §1129 of this title, may not be taxed under any law imposing a stamp tax or similar tax.” In some jurisdictions, courts include in §363 sale orders entered in chapter 11 cases, preconfirmation, a provision that the sale is not subject to transfer taxes under §1146(c) because the sale is in contemplation of a plan.

ABI’s Business Reorganization Committee will present a program at the Winter Leadership Conference in Tucson, Ariz., entitled “Emerging Issues In Hospitality, Entertainment Venue and Gaming Bankruptcies.” Panelists include Rudy J. Cerone, McGlinchey Stafford PLLC, Douglas Draper, Heller Draper Hayden Patrick & Horn LLC, and Linda F. Cantor, Pachulski, Stang, Ziehl, Young & Jones PC. The program will be part of the committee’s meeting on Dec. 6, 2002, at 8:00 a.m.