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Civil Procedure Bankruptcy

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

Second Circuit Finds “Related To” Bankruptcy Jurisdiction in a Madoff Matter

The Second Circuit recently issued an important decision on a “related to” jurisdiction case arising out of the Bernie Madoff Ponzi scheme. SPV Osus, Ltd. v. UBS AG, 2018 U.S. App. LEXIS 3088 (2d Cir. Feb. 9, 2018). SPV...more

“Golden Share” Equity Holder Can Bar Bankruptcy Filing

The Bankruptcy Court in the Southern District of Mississippi (the “Court”), in In re Franchise Services of North America, Inc., Case No. 1702316EE (Bankr. S.D. Miss. Dec. 18, 2017), upheld the blocking power held by a...more

Preference Actions Filed In Hancock Fabrics

by Fox Rothschild LLP on

On January 31, 2018, Hancock Fabrics Inc., the post-effective date debtor, filed approximately 68 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547, 548 and...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

New York Bankruptcy Courts Hold That a Debtor’s Failure to Make Postpetition Loan Payments is a Basis for Granting Relief from the...

by Pullman & Comley, LLC on

February 2, 2018 There are basically two alternative grounds for a secured lender to achieve a lifting of the automatic stay imposed by the bankruptcy filing of its borrower. One is to establish that the debtor has no equity...more

Split Third Circuit Holds Transfer By Non-Debtor Cannot Be Fraudulent Transfer

Refusing to rely on “equitable principles” when interpreting the Delaware Uniform Fraudulent Transfer Act (DUFTA), the Third Circuit (2-1 decision) in Crystallex Int’l Corp. v. Petroleos De Venezuela, S.A, et als. held that a...more

What Does a Senior Lienholder Get When a Junior Lienholder Forecloses?

What does a senior lienholder get when a junior lienholder non-judicially forecloses on the property and the sale results in “surplus funds” that exceed the amount of the junior lien?...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Takata's Japanese Bankruptcy Case Survives Public Policy Objection

by Dechert LLP on

As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more

Stay Violation? Beware Of Escalating Attorneys’ Fees

by Fox Rothschild LLP on

In the case of Mantiply v. Horne (In re Horne), 876 F.3d 1076 (11th Cir. 2017) the Eleventh Circuit decided an issue of first impression in the Circuit: Whether the Bankruptcy Code authorizes payment of attorneys’ fees and...more

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Long Arm Jurisdiction? Foreign Counsel May Not Be Sanctioned Absent...

by Dechert LLP on

The Bankruptcy Court for the Southern District of New York recently held that a foreign counsel cannot be sanctioned for an attempt to assist its client in avoiding discovery orders issued by the court, when personal...more

Haggen’s Order Holds: Fiduciaries Who Enter Into “Foolish” Transactions But Who Are Acting In Good Faith Are Protected

by Fox Rothschild LLP on

On January 22, 2018, in an adversary proceeding arising within the Haggen bankruptcy (Adv. No. 16-51204), Judge Gross of the Delaware Bankruptcy Court issued a ruling against the Plaintiff, denying the relief requested in the...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 and Insolvency Bulletin Issue 3 - January 2018: Agrokor: Croatian extraordinary administration proceedings...

by Dechert LLP on

In a significant judgment on 9 November 2017, the High Court in London granted recognition of the extraordinary administration proceedings on-going in respect of the Croatian conglomerate Agrokor as a foreign proceeding under...more

Eleventh Circuit Holds That a Creditor’s Due Process Claim Can Be Inadvertently Waived By Inaction

by Burr & Forman on

On December 11, 2017, in a case entitled In re Iliceto, the Eleventh Circuit Court of Appeals affirmed the district court’s decision, which held that Nationstar Mortgage, LLC (“Nationstar” or the “Creditor”) received notice...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

Mission Product Holdings Inc v Tempnology LLC First Circuit on a Mission Reverses Bankruptcy Appellate Panel

Anyone who practices bankruptcy or intellectual property law and follows the intersection of the two knows Congress responded to the Fourth Circuit’s ruling in Lubrizol by enacting 11 U.S.C. § 365(n) (“Section 365(n)”)....more

Blog: Throwing Shade At Sunbeam: Following Lubrizol And Not The Seventh Circuit, The First Circuit Leaves Another Trademark...

by Cooley LLP on

The Tempnology Trademark Saga. When it comes to decisions on bankruptcy and trademark licenses, the In re Tempnology LLC bankruptcy case is the gift that keeps on giving. The Original. It all started in November 2015....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

Exelco’s US Chapter 11 Case Dismissed in Favor of Belgian Proceeding

by Dechert LLP on

The Delaware Bankruptcy Court recently dismissed a Chapter 11 bankruptcy case pending before it and recognized, under Chapter 15 of the Bankruptcy Code, the debtor’s bankruptcy proceeding in Belgium. Exelco NV (“Exelco”), a...more

Bankruptcy Venue Reform Act Seeks to Limit Districts Where Debtors May File

by Hogan Lovells on

On January 8, 2018, Senators John Cornyn (R-TX) and Elizabeth Warren (D-MA) introduced the Bankruptcy Venue Reform Act of 2017. The bill would require that individual debtors file in the district where their domicile,...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

A Patent Law Dispute Before the Supreme Court This Term Could Have a Major Impact on U.S. Bankruptcy Courts

by Kelley Drye & Warren LLP on

The Supreme Court recently heard arguments in a patent dispute case, Oil States Energy Services, LLC v. Greene’s Energy Group, LLC. Although the case has nothing to do with bankruptcy law, its outcome could have a...more

Dispute Evolution: A bona fide dispute regarding claim amount may disqualify creditor from maintaining an involuntary case.

Section 303(b)(1) of the Bankruptcy Code generally requires three petitioning creditors to join an involuntary petition, each of which must hold claims against the debtor that are not contingent as to liability and are not...more

Eleventh Circuit Affirms Award of Attorneys’ Fees Incurred by Individuals for Stay Violation in Damages Action and on Appeal

The Bottom Line - Addressing an issue of first impression in the Eleventh Circuit, the Court in Mantiply v. Horne (In re Horne), 876 F.3d 1076 (11th Cir. 2017), recently held that section 362(k)(1) of the Bankruptcy Code...more

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