Recent Articles

Amendments To The Federal Bankruptcy Rules Take Effect December 1, 2008

Bob Eisenbach
December 01, 2008 07:23

Nearly every year, changes are made to the Federal Rules of Bankruptcy Procedure -- the ones that govern how bankruptcy cases are managed -- to address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year's amendments to the national...

Fall 2008 Edition Of Bankruptcy Resource Is Now Available

Bob Eisenbach
November 03, 2008 01:18

The Fall 2008 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the...

Second Liens And Recharacterization: Is More Litigation Around The Corner?

Bob Eisenbach
October 20, 2008 05:03

In many Chapter 11 bankruptcy cases, unsecured creditors investigate whether a basis exists to recharacterize existing secured debt as equity. The reason? A successful challenge can turn first or second lien secured debt into "back-of-the-line"...

The 2005 Bankruptcy Law Changes And Their Impact On Retail Reorganizations

Bob Eisenbach
October 15, 2008 08:17

On September 26, 2008, my partner Lawrence Gottlieb, the Chair of the Bankruptcy & Restructuring Group at Cooley Godward Kronish LLP, testified before the Subcommittee on Commercial and Administrative Law of the United States House of Representatives Committee on the...

The Credit Crisis And DIP Financing

Bob Eisenbach
October 13, 2008 04:30

The credit crisis has made it difficult for companies to borrow throughout the economy. It should come as little surprise then that the constriction in the credit markets is hitting Chapter 11 debtors in possession as well. According to an article entitled "Bankruptcy financing...

Ninth Circuit Rules In N.C.P. Marketing Trademark License Case

Bob Eisenbach
September 28, 2008 17:50

Back in March I gave an update on In re: N.C.P. Marketing Group, Inc., a case addressing whether a debtor can assume a trademark license over the trademark owner's objection. In 2005, the U.S. District Court for the District of Nevada issued its first of a kind decision, In re: N.C.P....

Will Section 363 "Free And Clear" Sale Orders Survive An Appeal? A Recent Appellate Decision Raises New Doubts

Bob Eisenbach
August 18, 2008 15:30

The primary objective of any buyer at a Section 363 sale, whether one purchasing for cash or an existing secured creditor making a credit bid, is to obtain good title to the purchased assets free and clear of any liens, claims, or interests. However, a recent decision on...

Recent California Decision Addresses Whether Directors And Officers Can Be Liable For Unpaid Wages Of A Bankrupt Company

Bob Eisenbach
July 08, 2008 05:54

When insolvent companies are unable to make payroll or to pay accrued vacation or other amounts owed employees, the question often arises whether directors, officers, or shareholders face personal liability for these unpaid amounts. The California Court of Appeal recently addressed that issue,...

Supreme Court Decision Settles The Section 1146(a) Transfer Tax Exemption Issue

Bob Eisenbach
June 17, 2008 01:36

On June 16, 2008, the United States Supreme Court issued its decision in Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc., the case involving whether Section 1146(a) of the Bankruptcy Code, which exempts from stamp or similar taxes any asset transfer “under a plan confirmed...

Leading Venture Capitalists Reflect On Business Failure

Bob Eisenbach
May 27, 2008 07:35

David Feinlieb of Mohr Davidow Ventures has an interesting post on his Tech, Startups, Capital, Ideas blog entitled "Why Startups Fail." David highlights four main reasons around his general theme of "they run out of money": They spend too much on sales and marketing before...