Bankruptcy Law | JD Supra Legal News, Updates, Analysis, & Information

In re TOUSA, Inc.— Eleventh Circuit Reinstates Widely Criticized Fraudulent Transfer Decision

by King & Spalding on 5/18/2012

On May 15, 2012, the United States Court of Appeals for the Eleventh Circuit issued an opinion in the TOUSA, Inc. (“TOUSA”) chapter 11 bankruptcy cases reinstating a $480 million fraudulent transfer judgment previously...more

Just When I Thought I Was Out . . . Eleventh Circuit Rules in TOUSA that Refinanced Lenders Can Be “Pulled Back In” and Held...

by Cadwalader, Wickersham & Taft LLP on 5/18/2012

On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had...more

SDNY Bankruptcy Court Interprets Section 546(e)’s Safe Harbors in Lehman-JPMorgan Dispute

by Cadwalader, Wickersham & Taft LLP on 5/4/2012

On April 19, 2012, the U.S. Bankruptcy Court for the Southern District of New York granted in part and denied in part JPMorgan Chase, N.A.’s motion to dismiss an adversary complaint filed by Lehman Brothers Holdings Inc....more

Appointing An Examiner is not a Simple Task

by Potter Anderson & Corroon LLP on 5/1/2012

Three cases provide examples of situations in which the courts considered an outside overseer. Allegations of impropriety by a bankrupt company's management can fuel heated litigation in bankruptcy cases — including...more

Mezzanine Borrower’s Chapter 11 Case Filed on Eve of Foreclosure Sale Dismissed as a Bad Faith Filing

by Cadwalader, Wickersham & Taft LLP on 4/24/2012

On December 22, 2011, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware dismissed with prejudice a mezzanine borrower’s chapter 11 case. See In re JER/ Jameson Mezz Borrower II LLC, 461 B.R. 293...more

EMAK Worldwide, Inc. v. Kurz, et al., No. 512, 2011 (Del. Apr. 17, 2012)

by Potter Anderson & Corroon LLP on 4/23/2012

In this appeal, the Delaware Supreme Court affirmed an interim fee award of $2.5 million to plaintiff’s attorneys, which the Court of Chancery granted following its decision in Kurz v. Holbrook, 989 A.2d 140 (Del. Ch. 2010),...more

Litigation Alert -- April 2012

by Ruskin Moscou Faltischek on 4/20/2012

In This Issue: The Face That Launched A Thousand Lawsuits - Madoff's Legacy; The Bark of the Claw Back is Worse than its Bite; and The Latest Battle: to Withdraw or not to Withdraw the Reference. Excerpt from The...more

What’s In a Name? Fifth Circuit Rejects Formulaic “Legal Title” Standard of Ownership In Favor of “Control” Test

by Cadwalader, Wickersham & Taft LLP on 4/13/2012

Asserting a fraudulent transfer claim is one of the most powerful tools a debtor in possession or trustee has under the Bankruptcy Code. Of course, a debtor can only seek to avoid a transfer of property in which it had an...more

Stern v. Marshall Updates – DC Bankruptcy Court Has Jurisdiction to Hear State Law Counterclaims

by Cadwalader, Wickersham & Taft LLP on 4/11/2012

In GB Herndon, the District of Columbia Bankruptcy Court determined that it had constitutional authority to determine state common law counterclaims and state law claims against nondebtor codefendants. Adams Nat’l Bank v. GB...more

Attorneys General Complaint on Mortgage Practices

by Orrick, Herrington & Sutcliffe LLP on 3/13/2012

On March 12, a complaint was filed in the U.S. district court for the District of Columbia by the DOJ and the attorneys general of 49 states and the District of Columbia against Bank of America, JPMorgan Chase, Wells Fargo,...more

Inside M&A - January/February 2012

by McDermott Will & Emery on 3/5/2012

In This Issue: SEC Sues Private Company and its CEO for Fraud Related to Buyback Program Involving Employee Stock Bonus Plan The Fiducie in Restructuring and Acquisition Transactions in...more

Administratie- en jaarrekeningplicht: gesneden koek?

by Monique Bourquin on 2/27/2012

In de MKB-praktijk zijn er holdingstructuren met één holding en één werkmaatschappij, waar één administratie wordt gevoerd. Bij het opstellen van de individuele jaarrekeningen...more

Timminco Limited: CCAA Court Considers Fiduciary Obligations Post-Indalex

by Osler, Hoskin & Harcourt LLP on 2/24/2012

Timminco Limited is among the first reported cases to be released following the Ontario Court of Appeal’s April 7, 2011 decision in Re Indalex. There are two Timminco decisions – Timminco 1 and Timminco...more

A Practical Approach To Enhance The Protection Of Quebec Mutual Fund Investors

by Fraser Milner Casgrain LLP on 2/20/2012

The Quebec government has mandated the Autorité des marchés financiers (‘’AMF’’) to hold a public consultation on compensation for victims of financial fraud. In response, the AMF...more

Gedalia v. The Land Holding Group, Inc. (In re The Land Holding Group, Inc.)

Opinion & Order Affirming in Part, Reversing in Part the Bankruptcy Court

by Rob Pfister on 12/30/2011

On December 30, 2011, U.S. District Judge Gloria M. Navarro affirmed a judgment entered by Bankruptcy Judge Bruce A. Markell in favor of The Land Holding Group, Inc., a chapter 11 debtor in Nevada, for tortious interference...more

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Bankruptcy – May 23, 2012

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