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Due Process Bankruptcy Code

Jones Day

Third Circuit: Unsecured Claim for Royalties from Intellectual Property Purchased by Debtor Discharged Under Chapter 11 Plan

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Mitigating risk of loss associated with a bankruptcy filing should be an element of any commercial transaction, especially if it involves a sale or license of intellectual property rights. A ruling recently handed down by the...more

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

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Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more

Dorsey & Whitney LLP

The Supreme Court Update - April 19, 2023

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Today, the Supreme Court of the United States issued three decisions: MOAC Mall Holdings LLC v. Transform Holdco LLC, No. 21-1270: This bankruptcy case involved the interpretation of Bankruptcy Code § 363(m) and its...more

Carlton Fields

Real Property, Financial Services, & Title Insurance Update: Week Ending January 7, 2022

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Bankruptcy / Section 505(a)(2)(C) / Property Taxes: Section 505(a)(2)(C) of the Bankruptcy Code precluded property owner from challenging allegedly improper property taxes in the course of its bankruptcy proceeding because...more

Kerr Russell

Politics And Insolvency: The Saga Of Delphi Retirees

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In every insolvency or bankruptcy proceeding, there are winners and losers. Senior secured creditors are often paid in full while general unsecured creditors receive pennies on the dollar. Typically, who gets paid and who...more

Fox Rothschild LLP

You Have to Follow the Rules: The Importance of Adhering to Bankruptcy Rule 2002 When Serving Claims Bar Date Notices

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A Delaware bankruptcy court recently held that the bar date for filing proofs of claim cannot be enforced against a creditor if the notice of the bar date was not sent by mail to that creditor. In re Cyber Litigation Inc.,...more

Fox Rothschild LLP

The Third Circuit, Latent Tort Claims And Bankruptcy Code § 524(g)

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To give a reorganized debtor a “fresh start,” the Bankruptcy Code provides that the confirmation of a plan discharges the debtor from any debt that arose before the confirmation date. However, if a potential claimant lacks...more

Patterson Belknap Webb & Tyler LLP

All in a Day’s Work. Belk Achieves Confirmation of Pre-Packaged Plan in Record Time

On Wednesday, February 23, just after 5:00 p.m., Belk, Inc. – a North Carolina-based department store chain – and its affiliates filed voluntary petitions under Chapter 11 of the Bankruptcy Code. Less than 24 hours later,...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Addresses Standard For Recovery Of An Alleged Fraudulent Transfer From A Subsequent Transferee

The Bankruptcy Code gives a trustee powers to avoid certain pre-bankruptcy transfers of the debtor’s property to other entities. For example, a trustee can avoid transfers made with the intent to impair the ability of...more

Patterson Belknap Webb & Tyler LLP

Due Process in Chapter 15: Industry-Dependent, Jurisdiction-Dependent, or Both?

In a recent cross-border insolvency case, Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized an insurance company rehabilitation proceeding in Curaçao as a “foreign main...more

Jones Day

First Impressions: Eleventh Circuit Rules That Equitable Mootness Applies in Chapter 9 Cases

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In Bennett v. Jefferson County, Alabama, 899 F.3d 1240 (11th Cir. 2018), a panel of the U.S. Court of Appeals for the Eleventh Circuit ruled as a matter of first impression that the doctrine of equitable mootness applies in...more

Kramer Levin Naftalis & Frankel LLP

Third Circuit Holds That Share Purchasers Take Shares Subject to Plan, Including Releases of Liability for Debtor’s...

A three-judge panel for the Third Circuit Court of Appeals recently held, in Chapter 15 case In re Arctic Glacier Int’l, Inc., No. 17-2522 (3d Cir. Aug. 20, 2018), that when purchasers of stock of a debtor are on notice of...more

Patterson Belknap Webb & Tyler LLP

Delaware District Court Dismisses Appeal by Creditors’ Committee After Case is Converted from Chapter 11 to Chapter 7

The Bankruptcy Code provides for the appointment of a creditors’ committee in chapter 11 bankruptcy cases. See 11 U.S.C. § 1102. There is no parallel provision applicable to chapter 7 cases. When a bankruptcy case is...more

Dechert LLP

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

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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

Baker Donelson

New Case Poses Threat to Mortgage Servicers in Bankruptcies

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A new decision from the U.S. Court of Appeals for the Ninth Circuit poses a serious threat to mortgage companies that service mortgages of chapter 13 debtors. Mortgage servicers should be aware of the case's implications and...more

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