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Who is an “Assisted Person” and Why Does it Matter?

 

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Bankruptcy Code Definition: Corporation

The Bankruptcy Code lists various types of entities which are defined as a “corporation.”  These include:

  • association having a power or privilege that a private corporation, but not an individual or a partnership, possesses;
  • partnership association organized under a law that makes only the capital subscribed responsible for the debts of such association;
  • joint-stock company;
  • unincorporated company or association; or
  • business trust;

but further expressly excluding a limited liability partnership.  11 U.S.C. § 101(9).

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New Member Spotlight: Stewart Spielman

Stewart Spielman became a member of The American Board of Certification in March 2016. When asked why he sought board certification, Stewart answered "I saw it as an opportunity to independently confirm my business bankruptcy expertise to clients and others in the firm.  In addition, it allows me to more meaningfully compete for significant representations across a broader geographic region."

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Midstream Agreements: The Door is Open for 365 Rejection

 

On March 8, the Bankruptcy Court for the Southern District of New York issued a bench decision in the Sabine Oil & Gas Corp. Chapter 11 case that may have a dramatic impact on the relationships between producers and midstream (pipeline transportation) companies in the troubled oil and gas sector. (In re Sabine Oil & Gas Corp., 15-11835 (Bankr. S.D.N.Y. 2016)).

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Know the [Bankruptcy] Law Before Taking Action!

 

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