The Third Circuit Court of Appeals in In re KB Toys Inc. affirmed a Delaware District Court decision holding that bankruptcy “claims” subject to disallowance under § 502(d) in the hands of a claimant who received recoverable…more
In a case of first impression, Bankruptcy Judge Martin Glenn for the Southern District of New York Bankruptcy Court in In re Residential Capital, LLC held that unamortized original issue discount (“OID”) created in a “fair…more
Bankruptcy Judge Christopher S. Sontchi for the Delaware Bankruptcy Court in In re NE Opco, Inc. held that “electricity” provided in the 20 days prior to the Debtors’ bankruptcy filing is not a “good” entitled to an…more
Delaware Bankruptcy Judge Judith Fitzgerald in the bankruptcies of Specialty Products Holding Corp. (a/k/a RPM, Inc.) and Bondex International, Inc. rejected the Debtors’ “novel” claim estimation approach that reduced from the…more
This article examines the April 2013 American Airlines decision denying $20 million CEO severance payment under § 503(c) but seemingly adopting the exception set forth in In re Journal Register Co. allowing for the insider…more
CalPERS is likely to prevail in the City of Stockton, California bankruptcy if the Court accepts its position that the City’s pension obligations to CalPERS are executory contracts that can be assumed by the City in its…more
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