Bankruptcy Court Rules Liability Under Prenuptial Agreement Non-Dischargeable, But No Legal Fees Incurred In Bankruptcy Proceedings

When entering into prenuptial agreements, parties should be aware that debts owed under such agreements are likely not dischargeable under the United States Bankruptcy Code (the “Code”), regardless of how carefully drafted. In DeStephano v. DeStephano (In re DeStephano), the New Jersey Bankruptcy Court determined that the debts owed by a former husband, DeStephano, under […]

Donald F. Campbell to Moderate Turnaround Management Association’s Bankruptcy Law Event

Donald F. Campbell, Esq. of Giordano, Halleran & Ciesla, will be the Moderator of a panel at “The Birdsall Bankruptcy: A Case Study in a Challenging and Multifaceted Insolvency Proceeding,” on April 8, 2014. For more information on this event please click here.

Quiznos Follows Sbarro To Bankruptcy Protection

Quiznos, the toasted sandwich chain based out of Denver, CO, filed for prepackaged bankruptcy protection within days of Sbarro. The company foresees this restructuring cutting $400 million of debt.  In its bankruptcy protection the company listed liabilities between $500 million and $1 billion.

Sbarro Seeks Bankruptcy Protection

The New York based pizza chain, Sbarro LLC, has filed for bankruptcy protection for the second time in less than three years. Sbarro first filed for bankruptcy in April 2011 and emerged from Chapter 11 the following November. The chain’s financial struggles are attributed to too much debt and a significant decline in mall traffic.

Third Circuit Rules Successor Liability Claims Are “Generalized Claims,” and Therefore, Property of Bankruptcy Estate – Not Individual Creditors

Bankruptcy creditors who are contemplating the filing of a claim against non-debtor third parties will want to consider the Third Circuit’s decision in In re Emoral, Inc.,  — F.3d —, (3d Cir 2014).  The Third Circuit recently determined that personal injury causes of action asserted against a third-party non-debtor corporation on a “mere-continuation” theory of […]

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