In a decision holding that surety bonds are not executory contracts, the Fifth Circuit signaled that courts may in the future utilize the functional approach to determine if multiparty contracts are executory in nature. The case, filed in the United States Bankruptcy Court for the Middle District of Louisiana as In re Falcon V, L.L.C.
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…
Offshore Service Companies Try Bankruptcy, Lobbying to Improve Their Finances
By Steven Boutwell on
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…