In a recent opinion, In re Pack Liquidating, LLC (Pack Liquidating), the U.S. Bankruptcy Court for the District of Delaware held that under Official Committee of Unsecured Creditors of Cybergenics Corp. v. Chinery...more
4/11/2024
/ Aiding and Abetting ,
Bad Faith ,
Bankruptcy Court ,
Breach of Duty ,
Commercial Bankruptcy ,
Creditor's Committee ,
Creditors ,
DE Supreme Court ,
Delaware Limited Liability Company Act ,
Derivative Suit ,
Duty of Care ,
Duty of Loyalty ,
Limited Liability Company (LLC) ,
Liquidation ,
Preemption ,
Standing ,
Unjust Enrichment ,
Unsecured Debt
Section 106(a) of the U.S. Bankruptcy Code expressly abrogates the sovereign immunity of "governmental units" for purposes of certain bankruptcy-related litigation. A split of authority concerning whether that abrogation...more
In its 1997 decision Cortez v. Vogt, the California Court of Appeal ruled that the limitations period during which an action to avoid a fraudulent or voidable transfer begins to run either on the date of the transfer or on...more
Bankruptcy Code Section 365(d)(5) provides personal property lessors with important rights concerning lease payments that come due after a lessee commences a U.S. bankruptcy proceeding. Generally, that section requires that...more
The U.S. Small Business Administration's (SBA) official form in effect since April 3, 2020, and its more recent interim final rules prohibit a debtor in bankruptcy that otherwise qualifies from being granted a loan under the...more
• The California Supreme Court has decided the fate of the unfinished business rule for hourly fee cases in the state with its long-awaited decision in Heller Ehrman LLP v. Davis Wright Tremaine LLP. The court held that a...more
A California District Court recently held that a bankruptcy trustee could not claim a property interest in the hourly fee matters pending at the now-dissolved Heller Ehrman LLP law firm. This June California decision was...more