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Bankruptcy trustees and chapter 11 debtors-in-possession (“DIPs”) frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more
The US Bankruptcy Court for the District of Delaware recently reaffirmed but limited the holding of In re DSI Renal Holdings, LLC, which held that under Third Circuit law, neither debtors nor trustees could bring fraudulent...more
The power of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to avoid pre-bankruptcy preferential transfers is an important tool designed to promote the bankruptcy policy of equality of distribution and to...more
Bankruptcy trustees and chapter 11 debtors-in-possession ("DIPs") frequently seek to avoid fraudulent transfers and obligations under section 544(b) of the Bankruptcy Code and state fraudulent transfer or other applicable...more
In related orders in an action to recover over $500 million in alleged fraudulent transfers arising out of the bankruptcy of an education technology company, the U.S. Bankruptcy Court for the District of Delaware denied...more
On March 12, 2025, the U.S. Bankruptcy Court for the District of Delaware denied four banks’ motion for summary judgment in an action seeking to claw back $35 million in fees associated with a $1.8 billion loan that allegedly...more
On March 27, 2025, the U.S. District Court for the Southern District of New York largely denied a motion to dismiss fraudulent transfer and tortious interference claims arising out of a dispute over the financing and...more
You may recall Rudy Giuliani’s recent legal woes. First, he lost a defamation lawsuit and faced a judgment of $148.1 million. Then, after he filed for bankruptcy protection, he faced an adversary proceeding to determine his...more
The Supreme Court recently issued an opinion, resolving a circuit split, narrowing the sovereign immunity exception by limiting a trustee’s ability to pursue avoidance actions against the government when such action invokes...more
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
Section 106(a) Doesn’t Waive Sovereign Immunity for State-Law-Based Section 544(b) Claims - The U.S. Supreme Court has significantly curtailed bankruptcy trustees’ powers in United States v. Miller, 145 S. Ct. 839 (2025). In...more
On April 7, Colorado enacted SB 25-133, titled the Colorado Voidable Transactions Act, which amended and renamed the statute formerly known as the “Colorado Uniform Fraudulent Transfers Act.” The Act originally created a...more
The Bankruptcy Code provides chapter 7 trustees with significant powers to liquidate and collect estate assets and pursue litigation claims, such as fraudulent transfer claims against third parties, all to increase the...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
To assist a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") in maximizing the value of the bankruptcy estate for the benefit of all stakeholders, the Bankruptcy Code authorizes a trustee or DIP to avoid certain...more
Over the last 15 years, private equity (“PE”) firms have invested hundreds of billions of dollars in the healthcare sector, infiltrating every corner of the industry from emergency rooms and labs to billing providers and...more
In the high-stakes trial, Coan et al. v. Dunne et al., Attorney Thomas H. Curran, representing Chapter 7 Trustee Richard M. Coan, successfully exposed the Irish developer Sean Dunne and his wife, Gayle Killilea’s unsuccessful...more
The restructuring landscape in 2024 demonstrated dynamic shifts, with courts across jurisdictions issuing pivotal rulings that helped reshape bankruptcy law....more
On November 27, 2023, the U.S. Court of Appeals for the Second Circuit revived some of a bankruptcy litigation trustee’s fraudulent transfer claims stemming from the leveraged buyout of apparel retailer Nine West. The lawsuit...more
This author previously wrote an article published in Bloomberg Law regarding the Supreme Court’s decision to take up an appeal of a decision on the Tenth Circuit Court of Appeals in United States v. Miller. In Miller, the...more
In situations where a bankruptcy court avoids a fraudulent transfer or similar transaction, subsequent transferees who received proceeds of the avoided transaction from the initial transferee can avoid liability in certain...more
On July 8, 2024, the U.S. Court of Appeals for the Second Circuit reversed, in a summary order, the dismissal of fraudulent transfer claims brought by the purported contract creditor of a shipping company against the shipping...more
On August 23, 2024, a divided panel of the U.S. Court of Appeals for the Ninth Circuit affirmed a jury’s verdict for a Chapter 7 trustee in an actual fraudulent transfer claim, which was based on the determination that...more
After nearly a decade of historically low interest rates, many borrowers will now have to grapple with near-term maturities between 2025 and 2028 on approximately $4.9 trillion of corporate debt. While some borrowers may...more