Business Reorganization

Co-Chairs’ Corner: Year in Review (2023)

The Business Reorganization Committee had a busy and successful 2023, and we are already looking forward to another great year in 2024.

Over the past year, committee members took advantage of the many benefits afforded them, including the committee’s newsletters and educational programs, and have taken part in active discussions over the listserv regarding hot topics and industry trends. We have big plans for 2024, and we thank our committee members and leadership for their support and continued participation.

The Not-so-Certain Right of Intervention Under 11 U.S.C. § 1109(b)

Does an unsecured creditors’ committee have an unconditional right to intervene in an adversary proceeding related to a chapter 11 case? Courts are undecided — and just last year, the U.S. Bankruptcy Court for the Southern District of Florida widened the split.

Sixth Circuit Holds that “Chargeback Debt” Under Merchant Agreement Accrues at Time of Initial Transaction, Not at Time of Chargeback

A merchant agreement is a contract between a business, as merchant, and a financial institution governing the terms and conditions of electronic payment processing services provided by the financial institution to the business. The typical merchant agreement requires the business to pay service fees to the financial institution in exchange for the ability to accept electronic payments from its customers. When a customer makes an electronic payment to the business, the financial institution credits the business’s account.