Proceedings supplementary are intended to be a speedy and relatively inexpensive means by which a judgment creditor can recover fraudulent transfers from third parties. Unlike conventional suits, proceedings supplementary do...more
Can a Chapter 11 debtor propose a plan to sell a lender’s collateral free and clear of the lender’s lien without allowing the lender to credit bid? The Supreme Court says “no”—unless there’s cause....more
Seventh Circuit holds that new equity in a Chapter 11 debtor must be auctioned…and that a creditor may credit bid.
In a Chapter 11 bankruptcy, if the debtor’s owners want to continue to own the debtor after...more
Offshore asset protection trusts (OAPT) typically have the following characteristics: (1) the trust is governed by the laws of a foreign jurisdiction that does not recognize the judgments or orders of courts of the United...more
Suppose you have been sued by the bankruptcy trustee for an alleged fraudulent transfer or a preferential payment. Who decides the case—the bankruptcy judge or a jury? This post explores the circumstances in which parties to...more