News & Analysis as of

Disallowance Defense

Purchasers of NJ Tax Sale Certificates - What You Include in Your Proof of Claim Can Cause a Loss of Your Claim and Lien

by Dechert LLP on

In Princeton Office Park, the U.S. Court of Appeals for the Third Circuit affirmed the bankruptcy and district court rulings that the purchaser of a NJ tax sale certificate forfeited its claim and lien because it included the...more

December 2014: Bankruptcy and Restructuring Update

Bankruptcy Code Section 502(d): Getting Back to Basics. Traders in distressed debt face a myriad of questions and issues when acquiring claims against a company in distress. One common issue that traders should always ensure...more

Collection Practices Plaintiffs Try End Run Around Florida Punitive Damages Laws

by Carlton Fields on

In Florida, debtor-side attorneys are asserting a novel legal argument to bring punitive damages claims at an earlier stage, pursuant to the civil remedies section of Florida’s Consumer Collection Practices Act, Section...more

Clouds on the Horizon for Claim Purchasers in the Third Circuit

by Katten Muchin Rosenman LLP on

In a decision of significance to the distressed claims trading community, the US Court of Appeals for the Third Circuit in In re KB Toys Inc. recently held that any risk or “cloud” of disallowance under the Bankruptcy Code...more

Buyer Beware: Third Circuit Confirms Claims are Subject to Disallowance Despite Sale to Third Party

by Morrison & Foerster LLP on

The Third Circuit in In re KB Toys, Inc. recently affirmed a decision of the Delaware District Court, holding that trade claims are subject to disallowance under section 502(d) of the Bankruptcy Code despite their subsequent...more

Caveat Emptor: Emerging Issues for Buyers of Bankruptcy Claims

In a large Chapter 11 bankruptcy case, claims against the debtor are actively traded in the secondary markets. A debtor’s original creditors may lack the liquidity to wait for uncertain payment at the end of the bankruptcy...more

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