Bankruptcy Code

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Mission Accomplished … First Circuit Bankruptcy Appellate Panel Acknowledges Post-Rejection Rights of Licensee of Trademarks

The Bankruptcy Appellate Panel (“BAP”) for the First Circuit recently upheld a licensee’s rights to use a debtor’s trademarks and logo after a rejection by the debtor of the underlying licensing and distribution agreement....more

A Secured Lender Must Receive Default Interest Under a Chapter 11 Plan Purporting to Cure a Defaulted Loan in the Ninth Circuit

A recent Ninth Circuit decision overturned earlier case law allowing debtors to avoid paying default interest when a defaulted loan was "cured" through a confirmed plan of reorganization. In Pacifica L 51 LLC v. New...more

The Intersection of Bankruptcy, Debt Collection and the Supreme Court

For years the interplay between the Bankruptcy Code and the Fair Debt Collection Practices Act (FDCPA) has vexed creditors and courts alike, leading to a split among the circuits as to whether the Bankruptcy Code preempts the...more

Ninth Circuit Holds Debtor Must Pay Default Interest Rate in Order to Cure Under Bankruptcy Plan

In a win for secured creditors, the Ninth Circuit Court of Appeals recently held that a debtor who sought to cure a pre-petition default of its loan through its Chapter 11 plan must pay the default rate of interest set forth...more

Rejecting Trademark Licenses in Bankruptcy: In re Tempnology

The decision provides some additional, though limited protection for licensees of trademarks in bankruptcy proceedings. Introduction - In In re Tempnology LLC,1 the Bankruptcy Appellate Panel (the BAP) for the...more

Municipal Bond Offering Disclosures after a Chapter 9 Filing—A Few Reflections on Orange County and the City of Detroit

Although not intended to be classics of literature, we have found tales of two municipalities and their Chapter 9 bankruptcies. One was warm and prosperous and on the West Coast, whose housewives we have followed in the age...more

The Ninth Circuit Loosens the Cap on Landlord Damages in In re Kupfer

Any property owner which has experienced the bankruptcy of a tenant is doubtless keenly aware of the limitation on damages which the Bankruptcy Code imposes on the landlord. A new decision by the Ninth Circuit bolsters the...more

Bankruptcy Cases To Watch In 2017

John Melissinos was quoted in a Law360 article that ran January 2, 2017, discussing the top bankruptcy cases to watch in 2017 and the issues expected to dominate discussions over the next year including Chapter 11 exit...more

It’s a Wrap – The Year in India That Was

Key developments in the Indian legal landscape in 2016 - From the Startup India campaign launched in January 2016 to the coming into force of substantial provisions of the Insolvency and Bankruptcy Code in December 2016,...more

It’s Not Just Actual Fraud: Intent to Hinder, Delay, or Defraud Can Be Present Even with the Best of Intentions

The Bankruptcy Code contemplates several penalties for transfers made by a debtor with an intent to “hinder, delay, or defraud” creditors. Although most situations focus on an “actual intent to defraud,” the Tenth Circuit...more

CFPB files SCOTUS amicus brief in FDCPA case on filing bankruptcy proof of claim on time-barred debt

The CFPB has filed an amicus brief in the U.S. Supreme Court in support of the respondent/consumer in Midland Funding, LLC v. Aleida Johnson, a decision of the Eleventh Circuit that held Midland’s alleged filing of an...more

Looking Forward: New California Laws for Public Agencies

Like years past, there were plenty of laws passed in Sacramento in 2016 that will impact public agencies. Here is a summary of those that have specific importance to your work. We hope that you will contact us for further...more

In Real Life the Bad Guy Sometimes Gets Away: Adding Judgment Debtors to a Judgment

As most litigators will tell you a plaintiff in a civil lawsuit needs to be able to prove both liability and damages to win a case. That is, you need to show both that the defendant is liable under the law and that you have...more

Plan Proponents Beware of “Death Trap” Traps in Chapter 11 Plans and Disclosure Statements

On November 22, 2016, a federal court in Texas ruled that the U.S. Department of Labor (DOL) unlawfully issued its Final Rule raising the minimum annual salary threshold for most “white collar” overtime exemptions under the...more

December 1, 2016 Revisions to the FRBPs: Taking the Bite Out of the Core-Noncore Distinction

On December 1, 2016, something extraordinary happened. No, it was not president-elect Trump visiting another Carrier air conditioning factory in Indianapolis. It was an event that made no headlines and caused no stir. The...more

Technology Law Newsletter

As this election year draws to a close, forecasting the future is a topic of discussion, not only in political circles, but in technology circles as well. To chart the best way forward, it is important to understand...more

First Circuit BAP Protects Trademark Licensees In Bankruptcy Despite Section 365(n)

The First Circuit recently issued an important interpretation of bankruptcy law that directly impacts trademark licensing rights. In In re Tempnology LLC, 559 B.R. 809 (1st Cir. BAP 2016), the First Circuit Bankruptcy...more

Yellowstone and the Barton Doctrine in the Third Circuit

The Barton doctrine, which has been imposed in “an unbroken line of cases … as a matter of federal common law,” In re Linton, 136 F.3d 544, 545 (7th Cir. 1998) (Posner, J.), requires that plaintiffs “obtain authorization from...more

Existence of Unpaid Tax Claim in Bankruptcy Opens the Door to Expanded Statute of Limitations on Fraudulent Conveyances

In bankruptcy proceedings, if the bankruptcy trustee seeks to gain access to assets that the debtor transferred prior to bankruptcy under fraudulent conveyance law, the trustee must act within the applicable state fraudulent...more

Punt, Pass or Kick? Supreme Court Struggles With Jevic at Oral Argument

The U.S. Supreme Court heard oral arguments this week in the case of Czyzewski v. Jevic Holding Corp. Although veteran Court watchers caution about seeking to predict ultimate rulings based on justices’ questions and stated...more

India Implements Radical Reforms to Insolvency and Rehabilitation System

With a new Insolvency and Bankruptcy Code that has become effective on 1 December 2016, India seeks to expedite the process for creditors seeking payment or foreclosure through the courts. India is currently a tough...more

Supreme Court Weighs Granting Cert on Bankruptcy Issues Involving Surcharge and Voting Rights of Assignee of Insider Claim

The Supreme Court is considering whether to grant review of two bankruptcy cases. On October 3, 2016, the Supreme Court invited the Solicitor General to file briefs expressing the views of the United States. Because the...more

Elkhorn Crossing, LLC: An Equity Cushion is Not Enough

“Don’t Bet The Farm On It” When is a million dollar equity cushion not enough? Despite a purported cushion of at least $1.2 million, the Bankruptcy Court for the District of Nebraska recently held that a proposed Chapter 12...more

Winners and Losers: They Call Alabama the Crimson Tide, Call Me Deacon Blues

In Bankruptcy Code Section 363 sales of assets, there are winners and losers. Chapter 11 is known as a forum for reorganizing or selling a ?nancially distressed business. If a Chapter 11 reorganization is not possible, a...more

Third Circuit Rules That Make-Whole Claims of Energy Future’s Bondholders Are Enforceable in Chapter 11 Proceeding

In a November 17, 2016 ruling likely to impact ongoing debt restructurings, pending bankruptcy proceedings and negotiations of new debt issuances, the Third Circuit recently overturned refusals by both the Delaware bankruptcy...more

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