BANKRUPTCY AND INSOLVENCY NEWS AND ANALYSIS – WEEK ENDING June 10, 2023

Trends and Legislative Developments

Corporate bankruptcies this year are the highest since 2010

The End of Easy Money: Bankruptcy Filings Pile Up at Fastest Rate since 2010

Corporate Bankruptcies Surge in 2023

Commercial Chapter 11 Filings Doubled Over Same Period Last Year

US corporate bankruptcies tick up in May; year-to-date total highest since 2010

From Party City to Bed Bath & Beyond: Bankruptcies just hit their highest level since the Great Recession

Reorganization

THIRD-PARTY RELEASES POSSIBLY HEADED TO SCOTUS FOLLOWING PURDUE PHARMA PLAN CONFIRMATION

8th Cir. BAP Holds Modification of BK Plan Requires At Least ‘Substantial Change in Circumstances’

Guidance From Eighth Circuit BAP On Plan Feasibility Issues (Farm Credit v. Swackhammer)

Sales

I CAN USE § 363 FOR THAT?!

Cross-Border

Recent Decision Clarifies What Kind of Foreign Proceedings Can Access Chapter 15

Executory Contracts

No Cuts, No Buts, No Coconuts: The Second Circuit Limits Who May Assert Priority Cure Claims in Bankruptcy

Avoidance and Recovery

Third Circuit: Pre-Bankruptcy Commercial Lease Termination Not Fraudulent Transfer