Subchapter 5 of Chapter 11 of the U.S. Bankruptcy Code provides profitable small businesses that owe less than $7.5 million to their creditors with a streamlined process for paying down their mounting debt. Put more simply, Subchapter 5 makes reorganization more accessible to small businesses. Under Subchapter 5, a qualifying business, can force creditors to
Prominent companies in financial trouble are increasingly seeking bankruptcy protection in New Jersey, when they would previously have sought jurisdictions like New York, Delaware, Virginia and Texas. Examples including Bed Bath & Beyond Inc., Rite Aid, WeWork and Z Galleria have sought Chapter 11 protection in Newark and Trenton. In addition, Whittaker, Clark & Daniels,
Rabinowitz Lubetkin & Tully, LLC (“RLT”) counseled Custom Alloy Corporation and certain affiliates in the sale of substantially all of their assets pursuant to Section 363 of the Bankruptcy Code to an affiliate of Trident Maritime Systems, LLC. The transaction closed in June 2023. The sale process took place in the U.S. Bankruptcy Court for
Once again, Rabinowitz Lubetkin & Tully’s is pleased to announce that our three senior attorneys — Jonathan I. Rabinowitz, Jay L. Lubetkin and Jeffrey A. Cooper – have been included in the list of 2023 The Best Lawyers in America®. All three have been on the list for more than a decade and all were recognized this year