News & Analysis as of

Sanctions Commercial Bankruptcy

Jenner & Block

April 2023 - Recent Developments in Bankruptcy Law

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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

Hogan Lovells

English court sanctions contested restructuring plan for the Adler Group

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On 12 April 2023, the English High Court (Mr Justice Leech) sanctioned the restructuring plan between AGPS BondCo plc (the “Plan Company”), and six classes of its creditors under Part 26A of the Companies Act 2006 (the...more

Patterson Belknap Webb & Tyler LLP

Creditor that Filed an Excessive Claim Draws Court’s Rebuke and Possible Sanctions

This post is about a junkyard, hogs getting slaughtered, and a bankruptcy judge poised to sanction a creditor and her counsel. The message from the case to would-be claimants in other cases is simple: do not “overreach.” In...more

Hogan Lovells

Sanctions no bar to sanction: Nostrum Oil & Gas PLC’s scheme of arrangement

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Nostrum Oil & Gas PLC’s scheme of arrangement under Part 26 of the Companies Act 2006 (the “Scheme”) was sanctioned on 26 August 2022, with the “scheme effective date” occurring on 31 August 2022. While the terms of the...more

Nelson Mullins Riley & Scarborough LLP

Somebody Call 9011: Counsel and Decedent’s Estate Benchslapped Under Rule 9011 for Repeated Attempts to Circumvent the Bankruptcy...

In a recent opinion from the United States Bankruptcy Court for the Eastern District of California, Judge Christopher Klein sanctioned a decedent’s estate’s representative and its lawyer for frivolously and repeatedly...more

Ward and Smith, P.A.

"My Lawyer Made Me Do It" is Not an Absolute Defense to Bankruptcy Court Sanctions

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Last year, we offered a lesson and a moral from a North Carolina district court decision reversing a $115,000 sanctions order by a North Carolina bankruptcy court.  The lesson from the case was that the bankruptcy court...more

Ward and Smith, P.A.

Use Clarity to Avoid Contempt in Bankruptcy

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This is a story about contempt and clarity - It comes to us from a July 2021 North Carolina district court decision reversing a $115,000 sanctions order by a North Carolina bankruptcy court. The story offers a lesson and...more

Holland & Knight LLP

Venezuela Economic Outlook

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Here is our biweekly summary of recent economic developments in Venezuela: • The Venezuelan local press reported that two Chilean companies, Alimentos y Frutos S.A., and Empresas Carozzi S.A., requested before Venezuelan...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Long Arm Jurisdiction? Foreign Counsel May Not Be Sanctioned Absent...

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The Bankruptcy Court for the Southern District of New York recently held that a foreign counsel cannot be sanctioned for an attempt to assist its client in avoiding discovery orders issued by the court, when personal...more

BCLP

Ruined, Missing Wine leads to Million Dollar Hangover for Debtor

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A Chapter 7 debtor’s failure to comply with a bankruptcy court order to preserve a $2 million dollar-plus collection of fine wines has led to the imposition of sanctions of over $1 million, most of which could be charged...more

Foley Hoag LLP - Global Business and Human...

Five on Friday – Five Recent Developments that We’ve Been Watching Closely

It’s Friday and time for another overview of developments in the field of business and human rights that we’ve been monitoring. This week’s post includes: an announcement by the International Criminal Court regarding the...more

Lewitt Hackman

FRANCHISEE 101: Bankruptcy Discharges Franchise Law Claims

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A recent Bankruptcy Appellate Panel decision is a reminder of both a benefit of bankruptcy, in appropriate circumstances, and the need to respect the bankruptcy discharge a party obtains in the process. Mr. Lee was...more

Katten Muchin Rosenman LLP

Bridging the Week - July 2015 #4

FC Stone Companies and Goldman Sachs Receive Largest Fines in CME Group’s 27 Disciplinary Actions Cascade: CME Group handed down sanctions in 27 separate disciplinary actions last week for alleged violations of rules...more

Troutman Pepper

Real Estate Cases: You May Want to Think Twice Before You File

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Branch Bank & Trust Co. v. Michael’s Enterprises of Virginia, Inc. (In re Michael’s Enterprises of Virginia, Inc.), 519 B.R. 916 (Bankr. E.D. Va. 2014)  – A mortgage lender sought sanctions against the debtor, its sole...more

Goodwin

Misconduct Not Grounds to Terminate Chapter 15 Recognition

Goodwin on

A recent ruling from the U.S. Bankruptcy Court for the Southern District of New York illustrates the limited, specific grounds for changing or terminating chapter 15 recognition. The ruling demonstrates that recognition may...more

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