Spotlight on Financial Services- Consumer bankruptcy
Common Benefits Issues in Bankruptcy
Nota Bene Podcast Episode 132: 2021 Business Bankruptcy Trends with Ori Katz
Straddle-Year Tax Debts in Bankruptcy: Does the King Get Paid First? [More with McGlinchey, Ep. 14]
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
Bill on Bankruptcy: How Purchasers of AMR Stock Made a Killing
We have previously blogged about the Tenth Circuit’s decision in United States v. Miller, a case that concerns the relationship between section 544(b)(1) and section 106(a)(1) of the Bankruptcy Code. As we explained in our...more
Recently, in the case United States v. Miller, the U.S. Supreme Court held that the sovereign immunity waiver provision in the Bankruptcy Code is jurisdictional only and does not waive the federal government’s sovereign...more
On March 26, 2025, the Supreme Court held in an 8‑to‑1 decision authored by Justice Ketanji Brown Jackson that Section 106(a) of the Bankruptcy Code waives the federal government’s sovereign immunity with respect to...more
A hallmark of bankruptcy law is equal treatment of similarly-situated creditors. The Bankruptcy Code frowns upon a debtor who, while insolvent, pays some creditors but not others in the run-up to bankruptcy – whether...more
In a case of first impression in the Ninth Circuit, the US Court of Appeals recently handed bankruptcy trustees a significant power by ruling in The Lovering Tubbs Trust v. Hoffman (In re O’Gorman) that a trustee can avoid...more
A chapter 7 trustee-lessee’s failure to comply with postpetition, pre-rejection lease obligations does not automatically give the landlord an administrative expense claim, as some courts fashion alternative remedies on a...more
The U.S. Supreme Court handed down three bankruptcy rulings to finish the current Term. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance companies to...more
We have blogged previously about the intersection of fraud and bankruptcy. A recent decision from the U.S. District Court for the Central District of California justifies an addition to that series of posts. Thomas...more
On May 17, 2024, the Department of Labor (“DOL”) published interim final rules (collectively, the “IFR”) to amend DOL’s 2006 regulations establishing the abandoned plan program, as well as the accompanying prohibited...more
A debtor's non-exempt assets (and even the debtor's entire business) are commonly sold during the course of a bankruptcy case by the trustee or a chapter 11 debtor-in-possession ("DIP") as a means of augmenting the bankruptcy...more
There is a growing trend of bankruptcy courts approving structured dismissals of chapter 11 cases following a successful sale of a debtor’s assets under section 363 of the Bankruptcy Code. A structured dismissal is a...more
Publicly, Diamond Finance Co. (“Diamond”) provided car loans to individuals with less-than-stellar credit. While Diamond did have “some actual business,” its purpose “quickly became a front to lure unsuspecting investors.”...more
One year ago, we wrote that 2022 would be remembered in the corporate bankruptcy world for the “crypto winter” that descended in November 2022 with the spectacular collapse of FTX Trading Ltd., Alameda Research, and...more
Section 544(b)(1) of the Bankruptcy Code enables a trustee to step into the shoes of a creditor and avoid a transfer “of an interest of the debtor in property” that an unsecured creditor could avoid under applicable state...more
On April 26, 2023, the U.S. Bankruptcy Court for the District of Delaware denied in part and granted in part motions to dismiss a chapter 7 trustee’s breach of fiduciary duty and aiding and abetting claims. The defendants...more
BlockFi Bankruptcy Plans Opposed by FTX, Three Arrows, and SEC | CoinDesk - Bankrupt crypto lender BlockFi submitted bankruptcy plans which have now been opposed by bankrupt companies FTX and Three Arrows Capital as well...more
Continuing with our series on bankruptcy schedules, today we look at Schedule I, which is used to provide information about your income. This form provides a variety of purposes in bankruptcy cases – depending on the chapter...more
In bankruptcy, certain specified types of debts are forgiven or “discharged”, releasing the debtor from personal liability for those debts. Debt discharges are permanent, and when granted, the debtor is no longer required to...more
AUTOMATIC STAY - 1.1 Covered Activities 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing their chapter 11 cases, the debtors in possession sought, in the alternative,...more
The latest amendments to the Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) took effect on December 1, 2022. This collection of modifications may be broadly divided into two categories: (i) amendments and a...more
In a recent decision by the Tenth Circuit Bankruptcy Appellate Panel, the court held that a chapter 7 trustee could not sell an LLC membership interest pursuant to section 363 of the Bankruptcy Code because of a transfer...more
Q: I am a receiver in a partnership dispute case. I have been served with a subpoena issued from a case outside the receivership case, seeking partnership records and emails to and from a defendant in that case. Neither the...more
On August 3, 2022, the U.S. Bankruptcy Court for the District of Delaware partially dismissed fraudulent transfer claims asserted by the chapter 7 trustee for Bayou Steel against Black Diamond Capital Management (and...more
This practice note discusses how a bankruptcy court may recharacterize documents that purport to create a loan transaction and determine that the transaction, despite labels, is something else—a transaction providing for a...more
A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. The creditor, himself a trustee of the debtor’s employee stock-option plan, had standing to sue without prior...more