In the event a plan participant files bankruptcy—typically chapter 7 or 13—a number of issues can arise for a pension plan. Since the modern Bankruptcy Code of 1978 was enacted, many courts have taken the view that a pension plan loan does not create a “debt” for purposes of the bankruptcy. This view, which avoids various thorny issues that could otherwise arise for both the pension plan and participant, emanates from a decision by the United States Court of Appeals for the Second Circuit, In re Villarie, 648 F.2d 810 (2d Cir. 1981). Recently, however, a bankruptcy court has challenged this seemingly well established concept, which could have ramifications for pension plans. This article will provide further background, an explanation of the recent decision, and identify one potential effect.

At the end of June, President Biden signed into law the Bankruptcy Threshold Adjustment and Technical Corrections Act. The new law reinstates the eligibility for many small businesses to take advantage of new streamlined provisions in Chapter 11 of the Bankruptcy Code.

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.

As we enter 2022, lenders should take time to familiarize themselves with digital assets—specifically, non-fungible tokens (“NFTs”) and cryptocurrency. As of today, more than 30 public companies hold cryptocurrency on their balance sheets, and big brands such as Visa and Adidas have each purchased NFTs worth more than $100,000. With the value of digital assets increasing, borrowers may seek to pledge NFTs and cryptocurrency as collateral. In this alert, we explore how secured lenders may protect their security interests in this novel form of property.

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.

The authors of this article provide an overview of the rules pertaining to net operating losses in bankruptcy.

Many businesses recognized significant net operating losses or “NOLs” as a result of the COVID-19 pandemic. The Internal Revenue Code of 1986, as amended (the “Code”), generally allows many types of taxpayers (including individuals, estates and trusts, exempt organizations, and most C corporations) to utilize NOLs to offset taxable income in other tax years, subject to certain limitations. 

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.

Ice Miller launched its Distressed Investment Group ("DIG") to identify and facilitate distressed investment opportunities and assist clients through creative and strategic acquisitions and investments in bankruptcies, in-court restructurings, out-of-court restructurings and other insolvency-related transactions.

Check out the latest issue for a list of currently available distressed investment opportunities and to learn more about our Distressed Investment Group.