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A Bankruptcy Court’s Newly Founded Ability to Certify Questions of Law, Namely Involving Corporate Law Issues, to the Delaware...

The Delaware State Legislature recently amended Article IV, section 11 of the Delaware Constitution to add United States Bankruptcy Courts to the expanding list of courts and agencies that may certify questions to the...more

CalPERS Files Amicus Brief In Titanomachy With San Bernardino

In its filing, CalPERS outlines why the 11th Amendment to the U.S. Constitution protects State agencies, like the Pension Fund, from being haled into federal court against their will by a municipality, which is a creation of...more

The BVI Commercial Court – Interfacing with Arbitration

Key recent decisions in the BVI Commercial Court have shaped the applicability and enforcement of arbitration clauses and notably how they interface with BVI statutory remedies and liquidations. Harneys take a look at...more

Stanwich Clarifies Wagoner Rule in Fraudulent Transfer Cases

In the Second U.S. Circuit, the so-called Wagoner rule deprives a trustee of standing to sue third parties, such as lawyers and investment bankers, if the bankrupt corporation participated with them in defrauding creditors. A...more

Bankruptcy Court Enforces “No Action” Clause and Rules that Bondholders Lack Standing in Chapter 11 Case

On August 28, Judge Burton R. Lifland of the Bankruptcy Court for the Southern District of New York held that an ad hoc group of bondholders did not have standing to object American Roads LCC’s plan or otherwise participate...more

Rogers Towers: Discharge and the Unscheduled Debt: Discharge Requires Due Process

Often referred to as the “holy grail” of bankruptcy law, a bankruptcy discharge releases the debtor from personal liability for certain specified types of debts....more

Bankrupt Municipality May Reduce Retiree Benefits

The bankruptcy of the largest U.S. city to file a chapter 9 bankruptcy petition has yielded a decision with serious implications for municipal creditors. Specifically, the United States Bankruptcy Court for the Eastern...more

Stern v. Marshall Update – Ninth Circuit Holds That Bankruptcy Courts Lack Constitutional Authority To Finally Determine...

On December 4, 2012, the United States Court of Appeals for the Ninth Circuit added to the growing body of case law delineating the extent of bankruptcy courts’ jurisdiction in the wake the Supreme Court’s decision in Stern...more

Burr Alert: Evolving Bankruptcy Jurisdiction - Ninth Circuit Rules That Bankruptcy Courts Cannot Enter Final Judgment On...

Before the Supreme Court’s seminal ruling in Stern v. Marshall, bankruptcy courts regularly entered final orders in fraudulent conveyance actions and other “core” matters. In Stern v. Marshall, the Supreme Court ruled that...more

Ninth Circuit Prohibits Bankruptcy Courts from Entering Judgments on Fraudulent Conveyance Claims Against Non-Claimants

The Ninth Circuit recently held that: bankruptcy courts lack the constitutional authority to enter a final judgment on all fraudulent transfer claims against non-claimants, whether brought under state or federal law, and a...more

Law Prof: US Govt Ignoring Rule of Law & Harming Economy Further [Video]

Aug. 29 (Bloomberg Law) -- There are numerous examples of the federal government suspending or ignoring settled rules of law in order to quickly and effectively respond to particular problems created by the broader financial...more

Frenville – Gone But Not Forgotten: Third Circuit Prohibits Retroactive Application of Grossman’s

The ability to discharge debts (i.e., liability on a claim) is essential to the fundamental goal of chapter 11 of the Bankruptcy Code – providing debtors with a fresh start by resolving all claims that arose before...more

Asset Sales in Bankruptcy: An Important Decision

U.S. bankruptcy law permits debtors-in-possession and trustees to sell assets free and clear of claims, liens and other interests. But a federal judge in New York ruled recently that a purchaser does not necessarily buy free...more

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

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

What is the dollar in the United States

A dollar in the United States is a Spanish Milled dollar coin, or its equivalent, in coin form, containing 371.25 grains of fine silver. Legal authority quoted, cited, and linked....more

Stop Foreclosure Automatically Using the Power of Chapter 13

How to Automatically Save Your Home From Foreclosure When the Bank Won't Work with You or Modify Your Loan. ...more

Bankruptcy and Public Finance Advisory: Bankruptcy Judge Rules that City of Vallejo Can Void Union Contracts

The nation’s cities, towns and other municipalities have certainly not been immune from the effects of the economic downturn. An option that may be available to municipalities facing dire financial circumstances is to file...more

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