David Goodrich Chairs OCBF CLE Panel on Issues in the Retail Industry
Member David Goodrich is a Program Chair...
Monthly News Archives: June 2015
U.S. Bankruptcy Court in Los Angeles Enters Final Decree Closing Webalo, Inc.’s Chapter 11 Reorganization Case
On June 29, 2015, the U.S. Bankruptcy Court in Los Angeles (Judge Julia Brand) entered a final decree closing Webalo, Inc.’s chapter 11 reorganization case. The order brought the case to a successful conclusion. Previously the court had confirmed Webalo’s plan of reorganization. The plan effectuated the necessary restructuring of approximately $30,000,000 of Webalo’s debt and equity interests and a recapitalization of Webalo. The …
CFO Magazine Features Victor Sahn on Declining Denim Sales and Pending Challenges for Mall Operators
In the CFO magazine article, “Denim’s Decline Challenges Mall Operators,” Partner Victor Sahn examines how the decline in denim sales has forced mall operators to be especially particular when evaluating potential tenants. “They need to carefully evaluate the future of that company and the industry it’s in,” says Mr. Sahn. “When you have brick and mortar locations and nobody’s coming into the store, the …
CLE Webinar: Safeguarding IP from Bankrupt Licensors
What happens when a product developer files for bankruptcy and another business holds a license to use its product? Does the licensee lose the right to continue using the product? Partner David Kupetz presented a complimentary CLE-accredited webinar, “Safeguarding Intellectual Property from Bankrupt Licensors,” on Tuesday, June 23. Mr. Kupetz examined the intersection of bankruptcy and IP, deepened the attendees’ understanding of the arguments at play, and looked …
SulmeyerKupetz Represents Official Committee of Unsecured Creditors in Close of $40 Million Sale
This Chapter 11 filing by one of the major art dealers in Los Angeles has been pending before the Bankruptcy Court for more than two years. During that time, SulmeyerKupetz has been involved representing the Official Committee of Unsecured Creditors in the bankruptcy case. SulmeyerKupetz has actively participated in highly contentious litigation between the Debtor and one of its two landlords regarding one of the …
SulmeyerKupetz Successful in Chapter 11 Debtor-in-Possession Case
In December 2011, SulmeyerKupetz was retained by David Bergstein, a Hollywood film producer and financier, to represent him in connection with involuntary bankruptcy proceedings commenced against five of his film companies. SulmeyerKupetz prepared a motion to dismiss the bankruptcy cases, successfully opposed substantive consolidation of further non-debtor entities with the existing debtors, and successfully prevented confirmation of a plan filed by the petitioning creditors …
Law360 Features SulmeyerKupetz’s Success on Appeal Reversing District Court and Bankruptcy Court Rulings
As featured in Law360, on June 12, 2015, the United States Court of Appeals for the Ninth Circuit reversed a district court’s affirmance of a bankruptcy court’s order approving a Chapter 7 trustee’s payment of $340,000 to the IRS out of the bankruptcy estate without following the law. In the Ninth Circuit appeal, SulmeyerKupetz represented appellant Gilbert Dreyfuss, the largest creditor, owed more than …