News & Analysis as of

Trustees Chapter 11

Courts Continue Trend of Recognizing Tribal Immunity in Bankruptcy Proceedings

by Holland & Knight LLP on

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware (Court) issued a decision on Feb. 28, 2017, that has important – and positive – significance for Native American tribal governments, their...more

Chris Lazarini Comments on Scope of Bankruptcy Rule 2004 Examination

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case in which objectors (a law firm, banks and accountants) opposed a bankruptcy trustee's Rule 2004 Motion requesting information related to his investigation of...more

The End of the Road for TransVantage Solutions, Inc.?

The TransVantage bankruptcy case and the resulting efforts by the Trustee to avoid carrier payments made by the defunct freight payment processor has been watched like an upcoming speed trap by the transportation industry...more

Preparing Yourself and Your Client for Chapter 11: Part I of II – The Petition Package, Filing the Case, Filing Fees, and First...

by Bryan Cave on

As a Chapter 11 debtor’s attorney, the prospect of serving as debtor’s counsel is an exciting – and increasingly rare – opportunity. The preparation for filing a Chapter 11 case involves negotiating complex cash collateral...more

11th Circuit Rules that Assignee for the Benefit of Creditors Lacks Power to File Bankruptcy Case for Assignor

On December 17, 2015, the Eleventh Circuit Court of Appeals issued a decision of first impression, finding that an assignee for the benefit of creditors under Florida’s Assignment for the Benefit of Creditors statute (Fla....more

Bankruptcy Sales: “It Ain’t Over ’Til It’s Over”

by Pepper Hamilton LLP on

Great Plains Royalty Corp. v. Earl Schwartz Co. (In re Great Plains Royalty Corp.), 520 B.R. 292 (Bankr. D. N.D. 2014) – Two companies that acquired assets in a bankruptcy auction moved to reopen the case to clarify...more

Applicability of USTP Guidelines to Bankruptcy Administrators

by Burr & Forman on

Two institutions exist to ensure that bankruptcy cases are conducted in conformity with bankruptcy laws: the U.S. Trustee Program (USTP) and the Bankruptcy Administrator (BA) Program. 1 These institutions perform...more

Catching Judge Sontchi’s “Flurry of Opinions” PARTS 2-3 OF 3

by Polsinelli on

In This Issue: - In re: Energy Future Holdings Corp., et al, 14-10979 (CSS) (CSC Trust Company of Delaware, as Indenture Trustee, v. Energy Future Intermediate Holdings Company LLC and EFIH Finance, Inc., Adv. Pro No:...more

July 2014: Bankruptcy and Restructuring Update

Intellectual Property Licenses in Bankruptcy—Uncertainties Remain Following the Eighth Circuit’s En Banc Decision in Interstate Bakeries. The bankruptcy of a party to an intellectual property license presents serious...more

Solar Bankruptcy Trustee Sues For $950 Million

by Varnum LLP on

The trustee in bankruptcy for Energy Conversion Devices, parent of United Solar of Greenville, is suing three Chinese solar panel companies. The allegations filed in Federal District Court in Detroit against Trina Solar Ltd,...more

Chapter 11 Update: New Bankruptcy Billing Guidelines Go Into Effect NOVEMBER 1

by Burr & Forman on

New federal guidelines governing the review of bankruptcy attorneys' fees and expenses go into effect on November 1, 2013. These guidelines, which were approved by the Department of Justice's United States Trustee Program...more

Stanwich Clarifies Wagoner Rule in Fraudulent Transfer Cases

In the Second U.S. Circuit, the so-called Wagoner rule deprives a trustee of standing to sue third parties, such as lawyers and investment bankers, if the bankrupt corporation participated with them in defrauding creditors. A...more

Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact [Video]

by Bloomberg Law on

June 27 (Bloomberg) -- The two bankruptcy cases going before the U.S. Supreme Court in the term beginning in October are the first topics of conversation on the video with Bloomberg Law's Lee Pacchia and Bloomberg News...more

SDNY Holds Trustee Cannot Evade Section 546(g) Safe Harbor by Bringing Avoidance Action Under State Law

On June 11, 2013, Southern District of New York Judge Jed Rakoff dismissed the complaint of the Trustee for the SemGroup estate seeking to avoid a novation made to Barclays pre-bankruptcy under a swap agreement. The Court...more

Ninth Circuit Holds That Debt Can Be Recharacterized as Equity

The US Court of Appeals for the Ninth Circuit recently resolved a split within the circuit when it held that a bankruptcy court has the power to recharacterize debt as equity. In In re Fitness Holdings International, Inc.,...more

Bill on Bankruptcy: Why is Kodak's Stock Soaring? [Video]

by Bloomberg Law on

March 20 (Bloomberg Law) -- Although Eastman Kodak Co. stock shot up like a rocket in a week's time, investors might not have the same profitable outcome like owners of American Airlines shares, as Bloomberg Law's Lee Pacchia...more

SDNY Denies Payment of Administrative Expense Claim by Relying on the Operative Document as a Whole and Rejecting a Statutory Rule...

On December 13, 2012, Judge Vincent L. Briccetti from the United States District Court of the Southern District of New York denied the appellant Notes Trustee’s request to compel payment of an administrative expense claim....more

Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value  [Video]

by Bloomberg Law on

Jan. 16 (Bloomberg) -- The low valuation creditors of MF Global Holding Ltd. put on their liquidating Chapter 11 plan isn't deterring the bond market where debt is being sold for roughly twice the predicted recovery for...more

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