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Articles by Andrew Alfano
Pillsbury Earns Industrials Restructuring of the Year Award for Nikola Corporation Chapter 11
The firm represented Nikola Corporation, a leader in zero-emissions transportation and energy infrastructure solutions, along with certain subsidiaries, in its chapter 11 proceedings in the U.S. Bankruptcy Court for the District of Delaware. Nikola conducted a Bankruptcy Court-sanctioned auction and sale process under Section 363 of the U.S. Bankruptcy Code involving substantially all of its assets, including Nikola’s HYLA brand.
Mastering the Transition: A Guide for Service Industry Leaders
Switching brands can be a challenge, let alone going from one industry to another, but I have always been a firm believer that leadership transcends industries. After beginning my career as a chef, I spent 16 years with Starbucks before serving in my current role as CEO of Retro Fitness. My career path has been extremely rewarding and has afforded me the opportunity to develop skills and learn invaluable lessons from great leaders and mentors along the way.
Chapter 11 Ruling Signals Emphasis On Lockup Provisions
By Dania Slim and Andrew Alfano (August 16, 2024, 3:28 PM EDT) -- In April, U.S. Bankruptcy Judge Martin Glenn for the U.S. Bankruptcy Court for the Southern District of New York severed a provision in certain postpetition agreements with aircraft lessors requiring the aircraft lessors — and creditors — to vote their claims in favor of a not yet filed or negotiated Chapter 11 plan.[1]... Law360 is on it, so you are, too.
Chapter 11 Ruling Signals Emphasis On Lockup Provisions
ADVERTISEMENT Don't want ads? Subscribe or login now. By Dania Slim and Andrew Alfano (August 16, 2024, 3:28 PM EDT) -- In April, U.S. Bankruptcy Judge Martin Glenn for the U.S. Bankruptcy Court for the Southern District of New York severed a provision in certain postpetition agreements with aircraft lessors requiring the aircraft lessors — and creditors — to vote their claims in favor of a not yet filed or negotiated Chapter 11 plan.[1]...
Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan | JD Supra
Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. Takeaways The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required aircraft lessors to vote in favor of an undefined chapter 11 plan. The decision does not apply to plan support agreements or restructuring support agreements entered into in connection with the plan negotiation process.
SCOTUS Grants Insurers “Party in Interest” Standing in Chapter 11 Cases | JD Supra
In a rebuke of a common law doctrine that denied insurer standing in chapter 11, the U.S. Supreme Court ruled unanimously that insurers with financial responsibility for claims asserted in bankruptcy are parties in interest with standing to object to a plan. TAKEAWAYS The Supreme Court found that the insurance neutrality doctrine, which historically denied insurer standing in chapter 11 if a plan did not impact an insurers’ policy rights, was too narrow in scope.
The “Insurance Neutrality” Doctrine is Heading to SCOTUS | JD Supra
The U.S. Supreme Court agreed to hear an appeal of the Fourth Circuit’s decision in Kaiser Gypsum regarding an insurer’s standing to object to a bankruptcy plan under the “insurance neutrality” doctrine. TAKEAWAY Under the “insurance neutrality” doctrine, an insurer lacks standing to object to a bankruptcy plan if the plan does not impact an insurer’s pre-bankruptcy rights or obligations.
Why Investors Should Consider Fitness
By Andrew Alfano, CEO of Retro Fitness The fitness industry is a $30 billion industry that was forecasted to grow 20% over the next five years, and that was before a global pandemic shone a light on all the unhealthy behaviors we have adopted as a country. On the surface, the fitness industry seems like a very crowded space, but the high value/low price fitness sector has emerged as a compelling model for investors and consumers alike.
Court of Appeals Finds That Insurers May Not Participate in Bankruptcy Negotiations by Invoking an Insured’s Duty to Cooperate | JD Supra
In rejecting an insurer’s attempt to block confirmation of its insured’s bankruptcy plan, the Fourth Circuit found that an insurer may not interject itself into plan negotiations by invoking the duty to cooperate, nor does the insurer have standing to object to an insured’s “insurance neutral” bankruptcy plan.
Plastronics, LTL And The
Chapter 1 0 o f t h e T e x a s B u s i n e s s Organizations Code permits an entity to undergo a "divisive merger" by splitting into two or more new entities and apportioning the assets and liabilities of the original entity among the new entities pursuant to a plan of merger.1 The Texas statute is the subject of recent controversy because of its use by businesses to shed mass tort liabilities by using the so-called "Texas Two-Step." Step one of the Texas Two-Step involves an entity...
Post-Petition Payment for Pre-Petition Delivery of Goods under Section 503(b)(9) Does Not Reduce Creditor’s Subsequent New Value Defense to Preference Lawsuit | Pillsbury Winthrop Shaw Pittman LLP - JDSupra
Background In 2017, Beaulieu Group LLC, a carpet manufacturer, filed for chapter 11. Beaulieu purchased polyester and other materials for its products from Auriga Polymers Inc. In the 90 days before Beaulieu filed for bankruptcy, Auriga delivered approximately $3.523 million in materials to Beaulieu and received more than $2.2 million in payments for its materials.
Tremont Athletic Club: A Community Gym in the Truest Sense
March 2022 Club of the Month, presented by ABC Fitness Solutions: Tremont Athletic Club, est. 2014 Tremont Athletic Club is a community gym in the truest sense of the word. The club’s team is dedicated to customer service and creating an environment where members can thrive. Here, Nick White, the owner of Tremont Athletic Club, shares about leadership philosophy, culture, industry trends and more. Tell me about your gym and what makes it stand out from others.
A Warning to Contract Counterparties: A Debtor Can Sell Your Fully Performed Contract Without Curing Defaults and Paying Your Claim in Full | JD Supra
There was no “silver lining” for a producer of the 2012 critically acclaimed film Silver Linings Playbook and his $400,000 claim to a portion of the film’s profits in a dispute before the Third Circuit Court of Appeals. See Spyglass Media Grp., LLC v. Bruce Cohen Prods., 997 F.3d 497 (3d Cir. 2021).
CARES Act Expands Eligibility Under the Small Business Reorganization Act: What Distressed Small Businesses and Their Creditors Should Know | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
Doing the ‘Right Thing’ Has Never Been More Important
We live in uncertain, unprecedented and challenging times. With coronavirus (COVID-19) cases growing worldwide, business leaders are scrambling to deal with a wide array of problems from low/no sales and stalling supply chains, to keeping employees safe and healthy. COVID-19 will change the world as we know it — it already has begun to leave its mark — but “how” it changes the landscape and the future of business is up to us.
New York Bankruptcy Court Strikes Liquidated Damages Provision and Related Guarantee as Unenforceable Penalty | JD Supra
Updated: May 25, 2018: JD Supra is a legal publishing service that connects experts and their content with broader audiences of professionals, journalists and associations.
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