Banks and other secured lenders are going to experience more losses, and larger losses, on small and mid-market loans because fewer businesses are eligible to be a “small business debtor” in bankruptcy and to use Subchapter V of Chapter 11 to reorganize their debts and get a fresh start. From March 2020 until June 21
bankruptcy
Bankruptcy and Baseball II: What Happens to Shohei Ohtani’s Record Contract if the Los Angeles Dodgers File for Bankruptcy (Again)?
Baseball superstar Shohei Ohtani recently agreed to a 10-year, $700 million contract with the Los Angeles Dodgers. While the headline number came as a shock to even sports business nerds like us, as always, the devil was in the details: $680 million of Ohtani’s contract is deferred until after Ohtani is no longer obligated to…
Bankruptcy and Baseball: What Happens to Shohei Ohtani’s Record Contract if the Los Angeles Dodgers File for Bankruptcy (Again)?
The sports world is buzzing about Shohei Ohtani’s record-setting $700 million dollar contract with the Los Angeles Dodgers. As bankruptcy lawyers, we are abuzz thinking about the bankruptcy implications of Ohtani’s contract. Today’s blog post will discuss what type of claim Ohtani might have if the Dodgers file for bankruptcy (again). In the near future…
Preparing for the squall of post-COVID bankruptcies: Intellectual Property rights in Chapter 11
Intellectual property comprises some of the most valuable assets a business may hold – its brands, patents, know-how, and other intangible rights that make the business unique. The intellectual property assets (IP) throughout the energy sector—upstream, midstream, downstream and service providers along the way—will be affected as more energy companies seek bankruptcy relief in the…
Recent United States Supreme Court Decision Tackles Question of What Happens When Bankruptcy Meets Intellectual Property
A recent United States Supreme Court decision handed down in May addressed what occurred when contract, bankruptcy, and intellectual property laws intersected.[1] In Mission Products Holdings, Inc. v. Tempnology, LLC nka Old Cold, LLC, the Supreme Court was presented with the question of whether a debtor’s rejection of an executory contract rescinded the…
Offshore Service Companies Try Bankruptcy, Lobbying to Improve Their Finances
Large and small offshore service companies are turning to the Bankruptcy Code for help with restructuring their balance sheet, and turning to Washington for help with generating more work.
One of the largest offshore service companies in the world, Tidewater, announced this week that it will file a Chapter 11 bankruptcy petition in Delaware…