John Wick - What You Need To Know about the Corporate Transparency Act
Once Removed Episode 24: Expressing Goals and Intent for the Trust
Once Removed Episode 23: Naming Guardians for Minor Children
Digital Planning Podcast Episode: Planning for Influencers
A Primer On Trusts - A Podcast with Janathan Allen
Once Removed Episode 12: SLATs and the Case of McKim vs. McKim
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
Once Removed Episode 10: Trustee Removal and Case Update on Leo Kahn Revocable Trust
Nonprofit Basics: Meeting Minutes Best Practices
Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation
The Case of the Disappearing Trust
Protecting Your Estate Plan from Challenges: No-Contest Clause Explained
Estate Planning 101: The Five Most Important Clauses for Wills and Trusts
Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan
THE PAPER CHASE
Investment Management Update – Exit Strategies
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
On September 12, 2024, the United States Court of Appeals for the Eighth Circuit reversed a trial court decision that had rejected a bank’s assertion of the in pari delicto defense to aiding and abetting claims brought by the...more
A chapter 7 trustee-lessee’s failure to comply with postpetition, pre-rejection lease obligations does not automatically give the landlord an administrative expense claim, as some courts fashion alternative remedies on a...more
The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more
We have blogged previously about the intersection of fraud and bankruptcy. A recent decision from the U.S. District Court for the Central District of California justifies an addition to that series of posts. Thomas...more
As previously discussed and anticipated in prior blog posts, the United States Supreme Court’s decision in Siegel v. Fitzgerald, 596 U.S. 464, 142 S.Ct. 1770, 213 L.Ed.2d 39 (2022), which struck down as unconstitutional the...more
A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more
The purpose of the 341 Meeting is to examine the debtor’s financial position and to confirm facts stated by the debtor in the bankruptcy filing. While creditors are not required to attend the 341 Meeting, creditors have an...more
Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining...more
On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more
Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the...more
The Bankruptcy Code provides that, in chapter 11 cases where the court does not find "cause" for the appointment of a trustee, the court "shall" appoint an examiner, upon a request from the Office of the U.S. Trustee (the...more
There is a growing trend of bankruptcy courts approving structured dismissals of chapter 11 cases following a successful sale of a debtor’s assets under section 363 of the Bankruptcy Code. A structured dismissal is a...more
Publicly, Diamond Finance Co. (“Diamond”) provided car loans to individuals with less-than-stellar credit. While Diamond did have “some actual business,” its purpose “quickly became a front to lure unsuspecting investors.”...more
What happens to funds recovered by the trustee after the final plan payment is made in a chapter 13 case? According to the U.S. Bankruptcy Court for the District of Iowa, absent a plan provision providing otherwise, those...more
One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the "crypto winter" that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more
One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the “crypto winter” that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more
The scope of the Bankruptcy Code's "safe harbor" shielding certain securities, commodity, or forward-contract payments from avoidance as fraudulent transfers has long been a magnet for controversy, particularly after the U.S....more
In a 2021 ruling, the U.S. Court of Appeals for the Second Circuit revived nearly 100 lawsuits seeking to recover fraudulent transfers made as part of the Madoff Ponzi scheme. In one of the latest chapters in that resurrected...more
A powerful tool afforded to a bankruptcy trustee or a chapter 11 debtor-in-possession ("DIP") is the power to recover pre-bankruptcy transfers that are avoidable under federal bankruptcy law (or sometimes state law) because...more
Introduction - The United States Trustee Program is part of the United States Department of Justice and oversees the administration of bankruptcy cases, including oversight of panel trustees. When a bankruptcy court...more
We have previously blogged about the section 546(e) defense to a trustee’s avoidance powers under the Bankruptcy Code. A trustee has broad powers to set aside certain transfers made by debtors before bankruptcy. See 11...more
In most cases seeking recognition of a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code, the foreign debtor's "foreign representative" has been appointed by the foreign court or...more
The United States Trustee Program is responsible for the efficient administration of bankruptcy cases throughout most of the country. Since 1986, the Trustee Program has covered all states except North Carolina and Alabama,...more
In earlier posts, the Red Zone has discussed the Supreme Court’s ruling in Siegel v. Fitzgerald, 142 S. Ct. 1770 (2022), which held that increased U.S. Trustee quarterly fees for large Chapter 11 debtors between 2018 and 2020...more
Nonconsensual nondebtor releases have been a key reason businesses facing mass tort claims have filed for bankruptcy. They hope chapter 11 will result in a faster, less expensive resolution of mass tort claims than class...more