Chairman and CEO Andy Kassner and Corporate Restructuring associate Joe Argentina authored an article in The Legal Intelligencer titled “Rent-A-Wreck Crash Into Bankruptcy Dismissed for Lack of Good Faith Filing.” The article outlines the details of In re Rent-A-Wreck of America, Inc., et al., chapter 11 cases in which the U.S. Bankruptcy Court for the District of Delaware concluded that the debtors had not filed their bankruptcy petitions in good faith, and consequently dismissed their cases.

Andy and Joe describe the factors that courts consider when making a good faith determination, and the bankruptcy court’s conclusion that in these cases, the debtors had filed for bankruptcy in order to obtain a tactical advantage in litigation against their prior owner, and failed to establish that they were in financial distress at the time of filing.

Read “Rent-A-Wreck Crash Into Bankruptcy Dismissed for Lack of Good Faith Filing.”


Source: The Legal Intelligencer
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