{"id":149,"date":"2025-03-19T11:00:24","date_gmt":"2025-03-19T15:00:24","guid":{"rendered":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/?p=149"},"modified":"2025-03-19T11:00:24","modified_gmt":"2025-03-19T15:00:24","slug":"bankruptcy-case-derailed-by-debtors-own-corporate-governance-agreement","status":"publish","type":"post","link":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/2025\/03\/19\/bankruptcy-case-derailed-by-debtors-own-corporate-governance-agreement\/","title":{"rendered":"Bankruptcy Case Derailed by Debtor&#8217;s Own Corporate Governance Agreement"},"content":{"rendered":"\n<p>A recent decision from the U.S. Bankruptcy Court for the Northern District of Illinois in\u00a0<a href=\"https:\/\/1.next.westlaw.com\/Document\/I1fd9ac40cd3311ef844bd7fdb6cda957\/View\/FullText.html?originationContext=typeAhead&amp;transitionType=Default&amp;contextData=(sc.Default)\" target=\"_blank\" rel=\"noreferrer noopener\"><em>In re 301 W North Avenue, LLC<\/em>, 666 B.R. 583 (Bankr. N.D. Ill. 2025)<\/a>\u00a0highlights the importance of following proper corporate authorization in bankruptcy filings. The bankruptcy court dismissed a Chapter 11 bankruptcy case for \u201ccause\u201d under Section 1112(b) of the Bankruptcy Code on the grounds that the debtor failed to obtain the requisite independent manager\u2019s consent in accordance with the debtor\u2019s own internal, corporate governance agreement.<\/p>\n\n\n\n<p>Read the full <em>Alert<\/em> on the <a href=\"https:\/\/www.duanemorris.com\/alerts\/no_authority_no_bankruptcy_court_enforces_bankruptcy_remote_protections_0325.html\">Duane Morris LLP website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A recent decision from the U.S. Bankruptcy Court for the Northern District of Illinois in\u00a0In re 301 W North Avenue, LLC, 666 B.R. 583 (Bankr. N.D. Ill. 2025)\u00a0highlights the importance of following proper corporate authorization in bankruptcy filings. The bankruptcy court dismissed a Chapter 11 bankruptcy case for \u201ccause\u201d under Section 1112(b) of the Bankruptcy &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/2025\/03\/19\/bankruptcy-case-derailed-by-debtors-own-corporate-governance-agreement\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Bankruptcy Case Derailed by Debtor&#8217;s Own Corporate Governance Agreement&#8221;<\/span><\/a><\/p>\n","protected":false},"author":6,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[71,8,70],"ppma_author":[37],"class_list":["post-149","post","type-post","status-publish","format-standard","hentry","category-general","tag-bankruptcy-remote-protections","tag-chapter-11","tag-marcus-colabianchi"],"authors":[{"term_id":37,"user_id":6,"is_guest":0,"slug":"duanemorris3","display_name":"Duane Morris","avatar_url":"https:\/\/secure.gravatar.com\/avatar\/843ff6e7a8fe5fc92109b47a45f34b6cf0ea499e6e788db23456c838b0ae6747?s=96&d=blank&r=g","0":null,"1":"","2":"","3":"","4":"","5":"","6":"","7":"","8":""}],"_links":{"self":[{"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/posts\/149","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/comments?post=149"}],"version-history":[{"count":0,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/posts\/149\/revisions"}],"wp:attachment":[{"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/media?parent=149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/categories?post=149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/tags?post=149"},{"taxonomy":"author","embeddable":true,"href":"https:\/\/blogs.duanemorris.com\/businessreorganizationfinancialrestructuring\/wp-json\/wp\/v2\/ppma_author?post=149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}