In 2007, Philadelphia Entertainment and Development Partners, LP dba Foxwoods Casino Philadelphia (“Plaintiff”) secured a gaming license from Pennsylvania for $50,000,000 with the understanding that it open its casino...more
The Bankruptcy Protector has previously provided a succinct summary of all cases decided post-Jevic. In this update, we discuss the cases decided between May 10, 2019 and November 27, 2019....more
In In re FirstEnergy Solutions Corp., 2019 WL 6767004 (6th Cir. Ct. App.), the United States Court of Appeals affirmed in part, reversed in part, and remanded to the bankruptcy court for further consideration, the...more
The First Circuit Court of Appeals issued an opinion on October 29, 2019, in In re TelexFree, LLC, No. 18-2001, 2019 WL 5558088, at *1 (1st Cir. Oct. 29, 2019) that has significant consequences for ponzi scheme litigation in...more
In In re I80 Equip., LLC, 938 F.3d 866, 874 (7th Cir. 2019), the Seventh Circuit held that a financing statement under the Uniform Commercial Code sufficiently describes collateral by referring to an unattached security...more
In In re Financial Oversight and Management Board for Puerto Rico, 2019 WL 4667518 (1st Cir. 2019), the United States Court of Appeals affirmed in part and vacated in part the Article III court’s partial denial of Plaintiffs’...more
In In re Mihranian, 2019 WL 4252115 (9th Cir. 2019), the Ninth Circuit Court of Appeals held, as a matter of first impression, that a party moving for substantive consolidation of the debtor's bankruptcy estate with the...more
In In re Woodbridge Grp. of Companies, LLC, No. BR 17-12560-BLS, 2019 WL 4305444 (D. Del. Sept. 11, 2019), the United States District Court for the District of Delaware affirmed an opinion by Bankruptcy Judge Kevin Carey, and...more
The Bankruptcy Protector recently discussed notable non-bankruptcy provisions that must be consulted to ensure compliance with privacy issues. In this post, we discuss notable Bankruptcy Code provisions and Bankruptcy Rules...more
There is currently a split in authority on the issue of whether a trustee may recover from an immediate or mediate transferee if the recipient received proceeds from a fraudulent transfer but not the fraudulently transferred...more
Privacy issues implicate several Bankruptcy Code sections and Bankruptcy Rules. The debtor must also comply with non-bankruptcy rules concerning privacy to the extent that such rules are not inconsistent with the Bankruptcy...more
Earlier this year, the United States Bankruptcy Court for the Southern District of New York issued an opinion in BOKF NA v. Wilmington Sav. Fund Soc’y FSB (In re MPM Silicones LLC), Case No. 15-2280, 2019 WL 121003 (S.D.N.Y....more
In a significant opinion for oil and gas industry bankruptcies, the Fifth Circuit in In re Whistler Energy II, LLC., No. 18-30940, 2019 WL 3369099 (5th Cir. July 26, 2019), issued a ruling setting forth the circumstances...more
Back in December of 2017, the Bankruptcy Protector provided a succinct summary of all cases decided post-Jevic through November 17, 2017. In this update, we discuss the cases decided between November 17, 2017 and May 10,...more
On January 3rd, the United States Court of Appeals for the Tenth Circuit issued an opinion in U.S. v. Parish Chemical Company, in which it addressed the issue of equitable mootness in a non-bankruptcy appeal....more
Affirming the lower court’s decision, the Firth Circuit recently held that a patent license purchased by a company in a bankruptcy sale was a rejected executory contract and could not have been transferred by the sale in...more
District Court Confirms Bankruptcy Court’s Constitutional Authority to Approve Millennium Plan Releases, Dismisses as Equitably Moot Opt-Out Lenders' Remaining Issues on Appeal....more
The United States Bankruptcy Court for the Northern District of California recently held that a resident of Hong Kong who purchased goods over the internet from a company in California was subject to personal jurisdiction in...more
It was only a matter of time before the budding state laws legalizing marijuana use ran up against the federal government’s treatment of the drug as a controlled substance – and what better place for the two sides to meet...more
In Mission Product Holdings Inc. v. Old Cold LLC (In re Old Cold LLC), 879 F.3d 376 (1st Cir. 2018), the First Circuit held that a sale in possible violation of the Supreme Court’s Jevic decision does not allow an appellate...more