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Civil Procedure Bankruptcy

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

Five Ways to Increase Negotiation Rates in Disbursements

by Epiq on

When sending a disbursement for a settlement in a class action, mass tort, or bankruptcy cases, parties often feel that control is now out of their hands and there is nothing more to do than wait for checks to be negotiated....more

Lehman Brothers to Pay $2.38 Billion in Connection with RMBS Claims

On March 8, 2018, Judge Shelley C. Chapman of the United States Bankruptcy Court for the Southern District of New York issued a decision from the bench valuing RMBS breach of representation and warranty claims against...more

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

Ninth Circuit Affirms “Per Plan” Approach To Interpret “Impaired Accepting Class” For Bankruptcy Plan Confirmation Purposes

by Cole Schotz on

In JPMCC 2007-C1 Grasslawn Lodging, LLC v. Transwest Resort Props. Inc., et al. (In re Transwest Resort Props. Inc.), Case No. 16-16221, 2018 U.S. App. LEXIS 1947 (9th Cir. Jan. 25, 2018), the Ninth Circuit was the first...more

Clear Error They Say! Supreme Court Opines On Standard Of Review For Determining Non-Statutory Insider Status

by Bryan Cave on

Last April, we updated you that the Supreme Court had granted review of In re The Village at Lakeridge, LLC, 814 F.3d 993 (9th Cir. 2016). ...more

In “Non-Statutory Insider” Case, Supreme Court Clarifies the Standard of Review for Mixed Questions of Law and Fact

In U.S. Bank Nat'l Ass'n v. Village at Lakeridge, LLC, No. 15-1509, 2018 U.S. LEXIS 1520 (Mar. 5, 2018), the Supreme Court analyzed the appropriate standard of review for appellate courts reviewing a bankruptcy court’s...more

Supreme Court Adopts Deferential Standard of Review on Chapter 11 Insider Status

by Jones Day on

In U.S. Capital Bank N.A. v. Village at Lakeridge, LLC, No. 15-1509 (U.S. Mar. 5, 2018), the U.S. Supreme Court held that an appellate court should apply a deferential standard of review to a bankruptcy court's decision as to...more

Limited recognition of foreign insolvency proceedings in Singapore

by Dentons on

Creditors and anyone seeking recognition of foreign insolvency proceedings in Singapore should consider how the presence of an injunction or an adverse court order may affect the chances of successful recognition....more

U.S. Supreme Court Bolsters Clear Error Standard for Mixed Questions of Fact and Law

by Alston & Bird on

Our Bankruptcy & Financial Restructuring Group analyzes the U.S. Supreme Court’s decision on which kind of court is best suited to solve a mixed question. - Non-statutory status - The case at hand - Applying the clear...more

Dodging the Issue: The Supreme Court "Weighs" In On Bankruptcy Law

by Clark Hill PLC on

The Supreme Court has been unusually busy in addressing bankruptcy-related matters by issuing two recent opinions – Merit Management Group, L.P. v. FTI Consulting, Inc. (“Merit”) and U.S. Bank, N.A., as Trustee v. Village at...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

Lenders Beware: The 9th Circuit Dilutes Voting Power in Multi-Debtor Cases (In re Transwest Resort Properties Inc.)

by Sullivan & Worcester on

Courts are often faced with the situation in which affiliated debtors file for Chapter 11 reorganization and request to have their cases jointly administered. While joint administration does not, without more, cause...more

Blog: Safe Harbor Rule Narrowed: Supreme Court Opens Door for Possible Avoidance of Previously Protected Transactions

by Cooley LLP on

Over the last twenty years, courts have increasingly insulated transactions from avoidance as fraudulent transfers by invoking the so-called “settlement payment” defense codified in section 546(e) of the Bankruptcy Code. The...more

U.S. Supreme Court Narrows the Scope of the Section 546(e) Safe Harbor

by Alston & Bird on

Resolving a circuit split, the U.S. Supreme Court’s ruling excludes protection for certain transferees when a settlement payment merely passes through an intermediary. Our Bankruptcy & Financial Restructuring and Finance...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

Zetta Jet: multi-jurisdictional investigation and asset tracing

by DLA Piper on

DLA Piper is advising Zetta Jet in relation to ongoing proceedings in the United States, Singapore and Australia. This multi-jurisdictional matter centers on the bankruptcy proceedings and subsequent collapse of the luxury...more

Appellate Group News: 2017 Year In Review

by Murtha Cullina on

2017 was a significant year for Murtha Cullina’s appellate practice group. The firm was recognized by the Connecticut Law Tribune as its "Appellate Litigation Department of the Year." 2017 also marked two anniversary dates of...more

Not So Safe: The Supreme Court Clarifies the Scope of the Bankruptcy Code’s Section 546(e) Safe Harbor Provision

by Shearman & Sterling LLP on

Section 546(e) of the Bankruptcy Code shields certain transfers involving settlement payments and other payments in connection with securities contracts (for example, payment for stock) made to certain financial...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

You want to file a bankruptcy case where?????

by DLA Piper on

For many years in the US, there has been disagreement among lawyers, judges and institutional creditors concerning the ability of parties under current bankruptcy law to cherry pick the court in which to file bankruptcy....more

Supreme Court Lakeridge Decision Clarifies the Standard of Review of Mixed Questions of Law and Fact

In another decision affecting Chapter 11 cases, U.S. Bank National Association v. Village at Lakeridge, --- S. Ct. ---, 2018 WL 1143822 (2018), on March 5, 2018, the United States Supreme Court issued a unanimous decision,...more

Who Is A Non-Statutory Insider? The U.S. Supreme Court Provides (Some) Guidance on the Appropriate Standard of Review for this...

On March 5, 2018 the United State Supreme Court issued its unanimous decision in U.S. Bank NA v. The Village at Lakeridge, LLC, 583 U.S. ___ (2018), answering the narrow question of what is the proper standard of review for...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

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