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Solar Bankruptcy Trustee Sues For $950 Million

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

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]

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

Rogers Towers: A Lesson from the Lumber Yard: Middle District of Florida Raises Particularity Requirement for Trustee Standing in...

One of the primary roles of a Chapter 7 trustee is to ensure that the bankruptcy estate is preserved prior to liquidation. It is no wonder, then, that the Trustee’s avoidance powers are well defined by the Bankruptcy Code....more

District Court Clarifies Distinction Between Burdens of Proof on Stay Relief and Adequate Protection in American Airlines...

In AMR Corporation, et al., Debtors, Case No. 12-3967, 2013 WL 1339123 (S.D.N.Y. April 3, 2013), the United States District Court for the Southern District of New York acknowledged that to be granted relief from the automatic...more

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

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]

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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