News & Analysis as of

SDNY Bankruptcy Rules Are About to Change: What You Need to Know About the @USBCSDNY Proposed Amendments

Last month, the United States Bankruptcy Court for the Southern District of New York proposed amendments to its local rules. Although the amendments are not sweeping, they include some very important updates and tweaks to...more

Lenders to SPEs: Be Aware, You May Not Have Standing to Appeal a Substantive Consolidation Order

A substantive non-consolidation opinion is a common feature of structured finance transactions in the U.S. Most, if not all, opine as to what a bankruptcy court would do, but express no opinion on the appellate process. We...more

Creditors and Debt Collectors Should Pay Close Attention to the CFPB’s Consent Order with Navy Federal Credit Union

The Consumer Financial Protection Bureau (CFPB) announced a consent order with Navy Federal Credit Union (Navy Federal) on October 11, 2016. While financial institutions should always analyze CFPB consent orders closely and...more

Eighth Circuit Opinions Highlight Need to Apply Appellate Lens at Trial Court

We often quip that the best way to establish a winning record as an appellate lawyer is to represent the party that won below; that’s no joke. In nearly every appellate court— state or federal— appellants have an uphill...more

Default interest gets washed out of the waterfall

The degree to which certain elements of a recovery right under a contract, including a debt instrument, are assignable or transferable to a third party has been questionable under English law for some time. “Litigation...more

Commercial Restructuring & Bankruptcy Alert - October 2016

Welcome to the October 2016 issue of the CR&B Alert, the newsletter produced by Reed Smith's Commercial Restructuring & Bankruptcy Group. Excerpt from newsletter: DELAWARE AND NEW YORK AT ODDS OVER RECLAMATION...more

Court Finds that Parents Convicted of Ponzi Scheme Received Value from Tuition Payments

Do parents receive something of value when they pay for their child to attend college? The Massachusetts Bankruptcy Court (Hoffman, J.) recently considered this exact question in DeGiamcomo v. Sacred Heart University, Inc.,...more

Bankruptcy Avoidance Litigation Part II – Do I Really Have To Give That Payment Back?

In the first installment of this article, we discussed the prevalence of preference litigation and some of the commonly-available defenses to business vendors to limit or even eliminate liability to the bankruptcy estate....more

One Appellate Court’s Message to Debtors: Do What You Say!

Mortgage lenders received some good news from the Eleventh Circuit Court of Appeals last week! In Failla v. Citibank, N.A., Case No. 15-15626 (11th Cir. Oct. 4, 2016), the Court affirmed a bankruptcy judge’s order for a...more

The Eleventh Circuit has spoken: “Debtors who surrender property must get out of the creditor’s way”

In recent years, there has been a hotbed of litigation across the nation, particularly in Florida state and bankruptcy courts, regarding a debtor’s ability to contest a secured creditor’s foreclosure notwithstanding the...more

New Delaware Chapter 11 Filing – IMX Acquisition Corp.

IMX Acquisition Corp., and three of its affiliates, have filed for chapter 11 bankruptcy protection in the United States Bankruptcy Court for the District of Delaware (Case No. 16-12238). The cases have been assigned to the...more

Delaware Organizational Meeting – Filip Technologies, Inc.

Upcoming Committee Formation Meeting: Friday, October 14, 2016, 11:00 a.m. Case Name: Filip Technologies, Inc. Case Number: 16-12192 (KG)...more

Delaware Bankruptcy Court Upholds Reclamation Creditors’ Rights

Vendors — take note! The Delaware bankruptcy court in In re Reichhold Holdings US Inc. recently issued an important ruling for vendors asserting reclamation rights. Under section 546(c) of the Bankruptcy Code, a vendor...more

New Delaware Chapter 11 Filings – Filip Technologies, Inc.

Filip Technologies, Inc., along with three of its subsidiaries, filed petitions for relief under chapter 11 of the Bankruptcy Court for the District of Delaware (Case No. 16-12192). Filip Technologies produces a phone...more

New Delaware Chapter 11 Filing – Garden Fresh Restaurant Intermediate Holding, LLC

Garden Fresh Restaurant Intermediate Holding, LLC, (d/b/a Souplantation) a San Diego-based restaurant chain that operates 123 Souplantation and Sweet Tomatoes restaurants in 15 states, and 4 of its subsidiaries (collectively,...more

Chapter 12 family farmer cases in Missouri: A look inside the numbers

Chapter 12 of the Bankruptcy Code, enacted in 1987, provides relief to family farmers facing financial distress. Chapter 12 is available exclusively for family farmers that want to reorganize their financial affairs. While...more

Unsecured Creditors May Expect Better Recoveries in Bankruptcy

On August 31, 2016, United States Bankruptcy Judge Robert A. Mark ruled that a bankruptcy trustee can pursue avoidance of property transfers that occurred nearly ten years before the debtor’s bankruptcy filing. The...more

3 Steps To Successful Judgment Enforcement

Congratulations. After a hard-fought battle, your client’s win is secured and the opposition’s liability determined. But don’t rest easy; obtaining judgment in your client’s favor does not mean the fight is...more

Mainbrace: September 2016 (No. 4)

It’s hard to believe another summer has come and gone. The kids are back in school, the commuter trains are a bit more crowded, and everyone is back from their holidays, hopefully refreshed and ready to get back down to...more

The Right To Countersecurity From A Debtor In Bankruptcy

U.S. maritime law offers a maritime plaintiff two principal means of obtaining security for its claims: Rule B attachment in respect of maritime claims, and Rule C arrest in respect of maritime liens. These rules are...more

Noble Environmental Power, LLC Files Chapter 11

Noble Environmental Power, LLC filed a chapter 11 petition in the United States Bankruptcy Court for the District of Delaware on September 15, 2016. The case has been assigned to The Honorable Brendan Linehan Shannon, and...more

Golfsmith Hits Into Trouble: Enters Chapter 11

On September 14, 2016, Golfsmith International Holdings, Inc. and twelve affiliates filed a Chapter 11 petition in the United States Bankruptcy Court for the District of Delaware. The case, docketed as 16-12033, has been...more

Delivery Agent, Inc. Files Chapter 11; Will Seek to Sell

On September 15, 2016, Delivery Agent, Inc. and three affiliates, Musictoday, LLC, Clean Fun Promotional Marketing, Inc., and Shop the Shows, LLC, filed chapter 11 petitions in the United States Bankruptcy Court for the...more

Secured creditors may vote during receivership upon reduction of secured claims

On 25 July 2016, the White & Case team obtained, at the Supreme Court of the Russian Federation (the "Supreme Court"), a declaration that a secured creditor has the right to reduce, at its discretion, the amount of a secured...more

Secured Creditors Can Chill a Bit Following Aeropostale Ruling

The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge Sean...more

414 Results
View per page
Page: of 17
JD Supra Readers' Choice 2016 Awards

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest using LinkedIn*

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.

Already signed up? Log in here

*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.