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Motion to Dismiss Bankruptcy Code Debtors

DLA Piper

Delaware Bankruptcy Court Clarifies Broad Scope of Fraudulent Transfer Claims

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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

Nelson Mullins Riley & Scarborough LLP

Equity Won’t Save You: Bankruptcy Court Rules that Principles of Equity Cannot be Used to Extend the Deadline to File a...

In a recent decision that highlights a key circuit split, Bankruptcy Judge Patricia M. Mayer of the Eastern District of Pennsylvania ruled that equitable powers under Section 105(a) of the Bankruptcy Code cannot be used to...more

Holland & Hart LLP

Why Bankruptcy Is A Budding Alternative For Cannabis Cos.

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Bankruptcy can be a remarkable tool for rehabilitating a struggling business, preserving jobs and going-concern value, and liquidating the assets of an insolvent company. The drafters of this country's bankruptcy laws...more

Bracewell LLP

546(e)’s Not-So-Safe Harbor: Second Influential Judge Echoes Concerns that Broad Exemption Shelters Pirates

Bracewell LLP on

Delaware Judge Brendan Shannon has joined calls for reforming Section 546(e) of the bankruptcy code, echoing concerns that the section’s safe harbor from fraudulent transfer liability has allowed investors to “loot privately...more

Fox Rothschild LLP

COMPLIANCE WITH OFFICIAL BANKRUPTCY FORM 105 SATISFIES ASHCROFT V. IQBAL

Fox Rothschild LLP on

Section 11 of Official Bankruptcy Form 105, Involuntary Petition Against an Individual, provides: Allegation- Each petitioner is eligible to file this petition under 11 U.S.C. § 303(b). The debtor may be the...more

Patterson Belknap Webb & Tyler LLP

Court Dismisses Bankruptcy Case to Enable Debtor to Seek a Paycheck Protection Loan

It is well known in the restructuring world that a debtor in bankruptcy can’t get a PPP loan. But what if you’re a debtor and decide a PPP loan could save your business? Will a court dismiss the case so you can seek a loan?...more

Kramer Levin Naftalis & Frankel LLP

"Time Is On My Side" — When a "Time of the Essence" Closing Date Keeps Rolling Like a Stone for 60 Days

The recent decision of the Bankruptcy Court for the Southern District of New York in In re AAGS Holdings LLC, Case No. 19-13029 (SMB) (Bankr. D. Del. Nov. 12, 2019), underscores the ability of debtors — and specifically, for...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Definition of “Transfer” under Bankruptcy Code

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed a case questioning the definition of a “transfer” under §544 and 550 of the Bankruptcy Code and whether the transfer was voidable when made by an unsecured creditor. The...more

Snell & Wilmer

Is a Bankruptcy Plan that Violates Federal Criminal Law Proposed in Bad Faith?

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Although legal in many states, marijuana remains illegal under federal criminal law. See 21 U.S.C. § 856(a)(1). One would think that engaging in illegal activity under federal criminal law would preclude relief under federal...more

Fox Rothschild LLP

Is Prepetition Bad Faith “Cause” For Dismissal In A Chapter 7?

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In a recent case out of the Southern District of Florida, the Court outlined the standard for dismissal of an individual’s Chapter 7 case based on the Debtor’s pre-petition bad faith behavior. The statutory language of §...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Remoteness Going to a Court of Appeals

Back in the day--say, the last two decades of the twentieth century--we bankruptcy lawyers took it largely on faith that the right structural and contractual provisions purporting to confer bankruptcy-remoteness were...more

Kramer Levin Naftalis & Frankel LLP

“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

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