A nonconsensual third-party release approved by a Mexican court can be enforced in the United States under Chapter 15 of the Bankruptcy Code.

#BusinessDistress #BusinessLaw&Litigation #Insolvency

https://www.dailydac.com/foreign-third-party-releases-survive-purdue-pharma-at-least-in-chapter-15/

DIP financing is a specialized form of lending that allows a bankrupt company to borrow money after filing for bankruptcy protection.

#BusinessDistress #CashCollateral&DIPFinancing #Chapter11Plans/Confirmation #CreditorsCommittee #Insolvency

https://www.dailydac.com/dip-financing-how-companies-fund-a-chapter-11-case/

Debtors often use Chapter 11 bankruptcy for litigation advantages. Whether or not they succeed depends on the facts of the bankruptcy case.

#BankruptcyPetition #BusinessDistress #Chapter11Plans/Confirmation #Insolvency #Valuation

https://www.dailydac.com/fancy-filing-chapter-11-bankruptcy-for-litigation-advantage/

RE: https://mastodon.social/@europeanspaceflight/116069534495909145

#Orbex has formally begun #insolvency proceedings. The Exploration Company is "disappointed that this potential transaction will not move forward". #Skyrora confirms it intends to explore the purchase of select #Orbex assets, including the Sutherland #Spaceport.

Receivers are faced with the usual obstacles of a cannabis receivership often paired with very large professional fees for lawyers and accountants.

#BusinessDistress #BusinessLaw&Litigation #Insolvency #StateCourtReceiverships

https://www.dailydac.com/cannabis-receiverships-litigation-missing-taxes-and-incompetence-paired-with-large-professional-service-fees/