During a U.S. bankruptcy case, can a debtor pay something less than the full contract rate provided for in a contract entered into prior to the bankruptcy while still requiring the counterparty to fully perform its...more
A recent case from the United States Bankruptcy Court for the Northern District of Indiana is a strong reminder to secured creditors of the importance of filing a proof of claim. In In re Ramirez Flores, 22-10010 (Bankr....more
New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords. Time approach limits, and often...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the highly anticipated examiner report was released on January 31st....more
As discussed in the prior Bitblog update regarding the Celsius Network LLC, et al., (the “Debtor”) bankruptcy proceeding (Case No. 22-10964 (MG) in the Bankruptcy Court for the Southern District of New York (the “Court”)),...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), recent case updates relating to the approaching claims bar date...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the following summarizes two important case updates as of November 18, 2022: ...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”), the following summarizes an important case update as of November 4, 2022...more
As Celsius Network LLC, et al., Case Number: 22-10964 (MG), proceeds in the Bankruptcy Court for the Southern District of New York (the “Court”) over the last month there have been a number of important updates in the case....more
Customers and creditors of Voyager Digital Holdings face a deadline to file official “proofs of claim” setting forth the amounts they assert that Voyager owes them. The deadline is 5:00 p.m. ET on October 3, 2022...more
If you really want to be released from your lease obligations and those of your assignee, you need to get a landlord release at the time of assignment. An assignor tenant’s lease obligations survive an otherwise permitted...more
The U.S. Bankruptcy Court for the Eastern District of North Carolina recently rejected a debtor’s argument that the 2017 Amendments to Rules 3012 and 3015 of the Federal Rules of Bankruptcy Procedure permitted her to avoid a...more
Industry News - Archdiocese of Santa Fe's bankruptcy case plods along... The Purdue Bankruptcy Didn’t Work...more
Anyone who is a fan of college football has probably watched ESPN’s College Game Day, and has heard Lee Corso emphatically challenge the predictions of another College Game Day host with the familiar phrase – Not So Fast, My...more
If you are a royalty owner and have questions about how your claim is likely to be treated when your lessee/operator goes into bankruptcy in Delaware, In re MTE Holdings LLC is a significant case....more
The recent case of In re Bowman, Case No. 20-11512, Section A (Bankr. E.D. La., July 12, 2021) addresses an interesting intersection of tax and bankruptcy law. Specifically, it looks at the issue of whether bankruptcy courts...more
There is more than one way that a creditor of a bankrupt entity (or debtor) can directly prosecute its claims in bankruptcy. If the creditor is involved in prepetition litigation with the debtor, it could request relief from...more
A creditor in bankruptcy must normally file a proof of claim by a certain specified time, known as the bar date, or have its claim be barred. Bankruptcy Rule 3002(c)(6)(A) provides a narrow exception to this rule when a...more
You just heard that a customer has filed for bankruptcy — what do you do now? One of the first steps is to determine whether you should file a proof of claim. How will I be alerted about the bankruptcy? When a...more
As we cross the one-year anniversary of the COVID-19 pandemic, we reflect on the multiple amendments to the Bankruptcy Code that have been implemented to help curb the effects of various economic shutdowns and financial...more
Chapter 13 bankruptcy provides relief only to individuals with regular income. This Chapter is most frequently used by debtors who have sufficient disposable monthly income to make some payments over time to their creditors....more
Every so often, we post an article on case law discussing proofs of claim. The decisions often contain basic but important information about the timing and manner of claim filing. One set of cases concerns whether a claim...more
In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more
It is well established that by filing a proof of claim in bankruptcy, a creditor submits itself to the equitable jurisdiction of the bankruptcy court and waives any right it would otherwise have to a jury trial with respect...more
With the expectation that bankruptcy filings will increase over the next few months, this might be a good time to revisit the documents filed with a bankruptcy filing and the information they provide. The focus today is on...more