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Category Archives: law

Is the fall of the shipping industry in 2015 continuing in 2016?

Is the fall of the shipping industry in 2015 continuing in 2016?

Through 2014 many shipping firms closed their doors, including some big American shipping companies like Genco Shipping, Eagle Bulk Shipping and Nautilus Holdings filed papers for bankruptcy after having a lot of financial problems. These problems have not seized since 2014 and this was clear in 2015, so today we’re analyzing which shipping companies went bankrupt… Read More…

What Happens When a Corporation Enters Chapter 11 Bankruptcy?

What Happens When a Corporation Enters Chapter 11 Bankruptcy?

Bankruptcy is the last resort for any business, but it is occasionally necessary. There are several different ways for a corporation to proceed once it has decided to declare bankruptcy. Chapter 13 bankruptcy is only available to consumers, so this is not an option for businesses save sole proprietorships. Corporations must either declare Chapter 11… Read More…

Structured Dismissals Remain Uncertain Despite Third Circuit Ruling

Structured Dismissals Remain Uncertain Despite Third Circuit Ruling

It can surprise many laypeople how expensive a bankruptcy can be for a debtor, especially in complicated chapter 11 proceedings. As creditors have no desire to see recoverable assets wasted in lengthy courtroom wrangling, Bankruptcy Code section 363(b) has provided an expedited process for selling a debtor’s assets. Unfortunately, even this process can become bogged… Read More…

Filed Under: law

Distressed Shipping Companies: Look to Airplane SLV Case Law

Distressed Shipping Companies: Look to Airplane SLV Case Law

Despite record-low oil prices and a global economy that has been steadily improving, the shipping industry has yet to truly emerge from the recession that began in 2008. A variety of problems have led to the current state of affairs, including sluggish demand that caused revenues to plummet, but one issue has bedeviled the industry… Read More…

Filed Under: law