News & Analysis as of

Civil Procedure General Business Bankruptcy

Read Civil Procedure updates, alerts, news, and legal analysis from leading lawyers and law firms:

Bankruptcy Remoteness Going to a Court of Appeals (Progress Report No. 1)

Our February 22 post reported that the Franchise Services of North America, Inc. decision of Bankruptcy Judge Edward Ellington of the Southern District of Mississippi dismissing a Chapter 11 petition because a holder of...more

Supreme Court Narrows Applicability of Bankruptcy Code's Safe Harbor for Securities-Related Transfers

by Pepper Hamilton LLP on

In a case that could have significant, long-term ramifications for the holders of stock and other securities, the U.S. Supreme Court vastly limited the scope of a Bankruptcy Code “safe harbor” that shields certain transfers...more

Supreme Court Limits Safe Harbor Defense in Bankruptcy "Clawback" Suits

Recently, the United States Supreme Court decided Merit Management Group, LP v. FTI Consulting, Inc., a decision that has potentially far-reaching implications for a broad range of business transactions, particularly...more

High Court Faced with the Issue of Marijuana Legalization in Bankruptcy

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

High Court Tightens Section 546(e) Safe Harbor for Securities Transaction Payments

by Jones Day on

The U.S. Supreme Court issued a highly anticipated ruling resolving a long-standing circuit split over the scope of the Bankruptcy Code's "safe harbor" provision exempting certain securities transaction payments from...more

Supreme Court Clarifies Securities Safe Harbor Under Bankruptcy Code

by Holland & Knight LLP on

• In a unanimous decision, the U.S. Supreme Court ruled against the petitioner in Merit Management Group, LP, Petitioner v. FTI Consulting, Inc., affirming the decision of the U.S. Court of Appeals for the Seventh Circuit. ...more

“Clearing & Settlement” Exception to Trustee’s Avoiding Powers Saves Only Payments “To” (not “Through”) Market Intermediaries

by Burr & Forman on

Last week, the unanimous Supreme Court clarified that the “clearing and settlement” exception to a bankruptcy trustee’s avoiding powers covers only payments “to,” not merely through, financial market participants....more

Supreme Court Holds That Use of Financial Institutions as Conduits Will Not Insulate a Transaction From Avoidance Actions

by Reed Smith on

On February 27, 2018, the Supreme Court of the United States issued a unanimous decision delivered by Justice Sotomayor holding that a party otherwise subject to an avoidance action under the Bankruptcy Code is not shielded...more

Resolving Circuit Split, US Supreme Court Holds Section 546(e) Safe Harbor Applies Only to Protected Parties

by Dechert LLP on

The Bankruptcy Code allows trustees, as well as debtors-in-possession and in some circumstances creditors’ committees, to set aside and recover certain transfers for the benefit of the bankruptcy estate. The purpose of the...more

Supreme Court Scales Back Safe Harbor Protection for Some Pre-Bankruptcy Fraudulent Transfers

by Ballard Spahr LLP on

Title 11 of the U.S. Bankruptcy Code contains provisions that allow some pre-bankruptcy transfers to be avoided, or "unwound," by a debtor in possession, trustee, or other party granted standing to do so. ...more

Something Amazing - A Unanimous Opinion by the United States Supreme Court in a Bankruptcy Case, Affirming and Remanding to the...

by Tucker Arensberg, P.C. on

Once in a while, a Supreme Court opinion crosses my desk that I cannot ignore. Such was the case today. The United States Supreme Court issued its opinion in MERIT MANAGEMENT GROUP, LP v. FTI CONSULTING, INC., a unanimous...more

Supreme Court Issues Decision on Section 546(e) Safe Harbor Provision Resolving Long-Standing Circuit Split

On February 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision...more

Supreme Court Issues Decision on Section 546(e) Safe Harbor Provision Resolving Long-Standing Circuit Split

On Feb. 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision that...more

Supreme Court Narrows Bankruptcy “Safe Harbor” Fraudulent Transfer Protections

by Ropes & Gray LLP on

On February 27, 2018, the U.S. Supreme Court issued a ruling that will make it easier for bankruptcy trustees, creditors’ committees, and other bankruptcy estate representatives to claw back payments made to shareholders in...more

Bankruptcy Court in the Southern District of Texas Finds That Preferential Rights Are Unenforceable in a Debtors Proposed Asset...

by Reed Smith on

On February 13, 2018, the Hon. Marvin Isgur (United States Bankruptcy Judge for the Southern District of Texas) considered whether preferential rights – such as a party’s “Right of First Refusal” – were enforceable in a sale...more

The Importance of Signatures: General Motors’ Unsigned But Fully Negotiated Deal Not Enforceable

by Hogan Lovells on

U.S. Bankruptcy Judge Martin Glenn recently decided that a fully-negotiated agreement would not be enforced in the absence of required signatures. The agreement contemplated a settlement between the General Motors bankruptcy...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Russian transportation and logistics conglomerate FESCO PLC...

by Dechert LLP on

This case reiterates the opportunity that an English scheme provides to companies in emerging market jurisdictions seeking to restructure their English law debt obligations with international lenders. Mr Justice Snowden’s...more

Restructuring & Insolvency Newsletter - January 2018

by Reed Smith on

Welcome to the January 2018 issue of the R&I Alert, the newsletter produced by Reed Smith's Restructuring & Insolvency Group. ...more

5 Business Cases to Watch in the Supreme Court’s Winter Session

by Bennett Jones LLP on

With the beginning of the Supreme Court of Canada’s Winter Session on January 8, the Supreme Court of Canada entered a new era following the retirement of former Chief Justice Beverly McLachlin and the appointment of Chief...more

Thoughts From the BAP on How to (re)Define an “Executory Contract”

Making a quiet entrance into the public realm during the final week of last year, a new opinion from the United States Bankruptcy Appellate Panel of the Ninth Circuit (the “BAP”) suggests that it is time to revisit the...more

Financial Litigation Roundup: Key Federal Rulings in 2017

In case you missed it, here is our list of the most significant financial services rulings in 2017 from the Supreme Court of the United States and major federal appellate courts. While there were no decisions of overwhelming...more

Life Insurance Investment Company Files For Bankruptcy In Delaware

by Fox Rothschild LLP on

On December 29, 2017, Life Settlement Absolute Return I, LLC (“LSAR”), along with Senior LS Holdings, LLC (“Senior LS”; collectively with LSAR, the “Debtors”), filed petitions for relief under Chapter 11 in the Bankruptcy...more

Court Holds that Bankruptcy Judges Cannot Impose Punitive Sanctions

Bankruptcy courts lack the power to impose serious punitive sanctions, a federal district judge ruled recently in PHH Mortgage Corporation v. Sensenich, 2017 U.S. Dist. LEXIS 207801 (D. Vt. Dec. 18, 2018). Judge Geoffrey...more

Examining the Limits of the Forward Contract Safe Harbor

by Dechert LLP on

As discussed in a recent Dechert OnPoint, section 365(e)(1) of the U.S. Bankruptcy Code provides that an executory contract of a debtor may not be terminated solely because of a provision in such contract that is conditioned...more

The Enforceability of Ipso Facto Provisions in a Dismissed Chapter 11 Case

by Dechert LLP on

Section 365 of the U.S. Bankruptcy Code does not address the legal status of an executory contract that is not assumed or rejected in a chapter 11 proceeding. In such cases where a chapter 11 plan is confirmed, courts adopt...more

540 Results
View per page
Page: of 22

Follow Civil Procedure Updates on:

"My best business intelligence,
in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
Sign up using*

Already signed up? Log in here

*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
*With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name. Or, sign up using your email address.