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Patterson Belknap Webb & Tyler LLP

Which Procedural Rules Apply to Non-Core, “Related-To” Matters in Federal District Court? Another Circuit Court Addresses the...

At stake in a recent decision by the First Circuit was this: when a bankruptcy matter is before a federal district court based on non-core, “related to” jurisdiction, should the court apply the Federal Rules of Bankruptcy...more

Charles E. Rounds, Jr.

At the intersection of black-letter contract, property, and equity doctrine: In re Citibank August 11, 2020 Wire Transfers, 2021...

Charles E. Rounds, Jr. on

Citibank is administering as agent a $1 billion term loan for debtor (Revlon) and creditors (lenders). The lenders have only contractual property rights to incremental principal payments during the term of the loan, which...more

Fox Rothschild LLP

Delaware Bankruptcy Bench Is At Full Strength With The Addition Of Judge Craig Goldblatt

Fox Rothschild LLP on

The Delaware Bankruptcy Court now has eight judges to manage its hectic caseload. Judge Craig Goldblatt was sworn in as a United States Bankruptcy Judge for the District of Delaware on April 26, 2021. Judge Goldblatt fills...more

Epiq

The Future of Subchapter V: Navigating the Pandemic and Beyond

Epiq on

Bankruptcy courts have had an increase in activity since the COVID-19 pandemic struck, especially for small businesses facing financial challenges. The Small Business Reorganization Act (SBRA), which was passed in August 2019...more

Dorsey & Whitney LLP

Paper Source Bankruptcy Offers Lessons for Vendors Playing Their Cards

Dorsey & Whitney LLP on

On March 2, 2021, stationery and gift retailer Paper Source filed for chapter 11 bankruptcy, stating in court filings that effects of the COVID-19 pandemic damaged its finances and operations. Paper Source stated that in...more

Morgan Lewis

Out-of-the-Money Junior Creditors Cannot Participate in the Bankruptcy Process

Morgan Lewis on

Subordination agreements are generally enforced in accordance with applicable non-bankruptcy law in bankruptcy cases. The decision in In re Fencepost Productions, Inc., No. 19-41542, 2021 WL 1259691 (Bankr. D. Kan. Mar. 31,...more

Farella Braun + Martel LLP

In Verizon Decision Careful Review of Insurance Policies Expands Coverage

In Verizon Communications Inc. v. National Union Fire Insurance Co. of Pittsburgh, Pa. the Delaware Superior Court ruled that Verizon was entitled to a defense under its D&O policy for fraudulent transfer claims. Although the...more

Morgan Lewis

Great Atlantic & Pacific Tea Co. – Giving Structure to a Structured Dismissal

Morgan Lewis on

Most corporate bankruptcy filings result in either a plan of reorganization under Chapter 11 of the Bankruptcy Code (the Code) or a liquidation under Chapter 7 of the Code. Sometimes, however, neither option is viable and the...more

Patterson Belknap Webb & Tyler LLP

New Bankruptcy Court Ruling on When a Creditor Can File a Late Proof of Claim

A creditor in bankruptcy must normally file a proof of claim by a certain specified time, known as the bar date, or have its claim be barred. Bankruptcy Rule 3002(c)(6)(A) provides a narrow exception to this rule when a...more

Morgan Lewis

UK Government Proposes Amendments to Arrangements for Insolvent Insurers

Morgan Lewis on

On 20 May 2021, the UK government published a consultation paper in which it set out its proposals to revise the current regime for insolvent insurers (excluding Lloyd’s underwriters). The proposals seek to clarify and...more

Freeman Law

In re Moreno: Bankruptcy Exemptions and Income Tax Refunds

Freeman Law on

Case: In re Moreno, 127 AFTR 2d 2021-1946, Case No. 20-42855 (Bankr. W.D. Washington, May 11, 2021). This case focuses on bankruptcy exemptions applicable in the State of Washington to certain amounts received by the...more

Weil, Gotshal & Manges LLP

Cross-Class Cram Down in UK Restructuring Plans: Virgin Active

Mr Justice Snowden’s recent judgment sanctioning the Virgin Active restructuring plans is significant for several reasons. Not only is it the first judgment to consider the cram down power of the 2006 Companies Act, but it is...more

Patterson Belknap Webb & Tyler LLP

Blurred Immunity: California Cannot Escape Adversary Proceeding on Grounds of Sovereign Immunity

In 2018, the liquidating trustee for Venoco, LLC and its affiliated debtors (collectively, the “Debtors”) commenced an action in the United States Bankruptcy Court for the District of Delaware seeking monetary damages from...more

Weil, Gotshal & Manges LLP

A Reminder That a 9019 Motion Is Not a Slam Dunk: Bankruptcy Court Denies 9019 Motion After Determining That Approving Certain...

In a recent decision, Bath Iron Works Corp. v. Congoleum Corp. (In re Congoleum Corp.), 2021 Bankr. LEXIS 10, 2021 WL 28396 (Bankr. D.N.J. Jan. 4, 2021), the Bankruptcy Court for the District of New Jersey denied a motion by...more

Akin Gump Strauss Hauer & Feld LLP

The New Cross-Border Arrangement Between Hong Kong and Mainland China on Insolvency and Restructuring Matters – A Comparison with...

On May 14, 2021, the Department of Justice of the government of the Hong Kong Special Administrative Region announced that the Secretary for Justice of Hong Kong and the Vice-president of the Supreme People’s Court (the...more

Balch & Bingham LLP

Eleventh Circuit’s “Narrow” Holding May Open Wide Disputes About Duties Under The FCRA

Balch & Bingham LLP on

The Eleventh Circuit recently weighed in on a common practice—reporting debts subject to bankruptcy. In the process of so doing, the opinion in Losch v. Nationtar Mortgage LLC provided litigants some key insights in Fair...more

Lowenstein Sandler LLP

Preference Defense In the Wake Of The Pandemic: A Primer

Nothing is more frustrating to a trade creditor holding a large unpaid balance owed by a debtor in bankruptcy than the risk that payments the trade creditor received before the debtor filed bankruptcy may be clawed back by...more

Latham & Watkins LLP

English Court Confirms Expansive Jurisdiction to Reverse Transactions to Defraud Creditors Even Outside Insolvencies

Latham & Watkins LLP on

The ruling confirmed that Section 423 of the Insolvency Act 1986 has extensive international reach, and does not require a transaction at an undervalue to leave the debtor with insufficient assets. Background - The...more

Jones Day

Business Restructuring Review | May–June 2021

Jones Day on

In This Issue: First Impressions: Third Circuit Scuttles Triangular Setoff in Bankruptcy - In In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a...more

Ward and Smith, P.A.

Struggling Hotels Can Provide Turn-Down Service, Can't Be Turned Down for Subchapter V Bankruptcy

Ward and Smith, P.A. on

Subchapter V of Chapter 11 of the Bankruptcy Code, which took effect in February 2020, creates a more streamlined and less expensive Chapter 11 reorganization path for small business debtors.  It has proven popular during...more

Jones Day

In Brief: "Failing" Delaware Corporation Can Transfer Assets to Creditors in Lieu of Foreclosure Without Shareholder Consent

Jones Day on

In Stream TV Networks, Inc. v. SeeCubic, Inc., 2020 WL 7230419 (Del. Ch. Dec. 8, 2020), the Delaware Court of Chancery held that the assets of Stream TV Networks, Inc. ("Stream"), an insolvent Delaware-incorporated 3-D...more

Greenberg Glusker LLP

Bankruptcy Venue Reform

Greenberg Glusker LLP on

Late last year, I co-authored an article in the Los Angeles Daily Journal with fellow bankruptcy attorneys Elissa Miller and Zev Schectman on the need for bankruptcy venue reform. Even though we have not seen the onslaught of...more

Weil, Gotshal & Manges LLP

Adjust Your Focus When Due Process Requirements Are Blurry: Third Circuit Finds Kodak’s Notice of Publication Sufficient for...

A fundamental tenet of bankruptcy law is that a debtor will have the ability to get a fresh start once it emerges. A company’s ability to discharge liabilities is among the primary drivers for seeking protection under chapter...more

Jones Day

U.S. Supreme Court Declines Review of Landmark Tribune Safe Harbor Ruling

Jones Day on

On April 19, 2021, the U.S. Supreme Court declined to hear the appeal of a landmark 2019 decision issued by the U.S. Court of Appeals for the Second Circuit regarding the applicability of the Bankruptcy Code's safe harbor for...more

Allen Matkins

Corporations Code Saves Church Property

Allen Matkins on

The  AME Zion Church of Palo Alto, Inc. was founded in 1918 and has occupied its sanctuary for over a half century.  In 2018, the Bishop of the Western Episcopal District of The African Method Episcopal Zion Church importuned...more

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JD Supra Privacy Policy

Updated: Apr 27, 2021:

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Links to Other Websites

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Information for EU and Swiss Residents

JD Supra's principal place of business is in the United States. By subscribing to our website, you expressly consent to your information being processed in the United States.

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Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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California Privacy Rights

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You can make a request for this information by emailing us at privacy@jdsupra.com or by writing to us at:

Privacy Officer
JD Supra, LLC
10 Liberty Ship Way, Suite 300
Sausalito, California 94965

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Access/Correct/Update/Delete Personal Information

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Changes in Our Privacy Policy

We reserve the right to change this Privacy Policy at any time. Please refer to the date at the top of this page to determine when this Policy was last revised. Any changes to our Privacy Policy will become effective upon posting of the revised policy on the Website. By continuing to use our Website and Services following such changes, you will be deemed to have agreed to such changes.

Contacting JD Supra

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JD Supra Cookie Guide

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How We Use Cookies and Other Tracking Technologies

We use cookies and other tracking technologies to:

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Updates to This Policy

We may update this cookie policy and our Privacy Policy from time-to-time, particularly as technology changes. You can always check this page for the latest version. We may also notify you of changes to our privacy policy by email.

Contacting JD Supra

If you have any questions about how we use cookies and other tracking technologies, please contact us at: privacy@jdsupra.com.

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