John Wick - What You Need To Know about the Corporate Transparency Act
Once Removed Episode 24: Expressing Goals and Intent for the Trust
Once Removed Episode 23: Naming Guardians for Minor Children
Digital Planning Podcast Episode: Planning for Influencers
A Primer On Trusts - A Podcast with Janathan Allen
Once Removed Episode 12: SLATs and the Case of McKim vs. McKim
Once Removed Episode 11: Spousal Lifetime Access Trusts, or SLATs
Once Removed Episode 10: Trustee Removal and Case Update on Leo Kahn Revocable Trust
Nonprofit Basics: Meeting Minutes Best Practices
Nonprofit Basics: Conflict of Interest Policies and Best Practices for Approving Insider Compensation
The Case of the Disappearing Trust
Protecting Your Estate Plan from Challenges: No-Contest Clause Explained
Estate Planning 101: The Five Most Important Clauses for Wills and Trusts
Law Brief: Alexis Gruttadauria and Rich Schoenstein Discuss Why You Need an Estate Plan
THE PAPER CHASE
Investment Management Update – Exit Strategies
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Trustees Sleep Easy after High Court Ruling
Bill on Bankruptcy: ResCap Report, a Bargain at $83 Million
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
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
Louisiana Pellets, Inc. and German Pellets Louisiana, LLC filed for Chapter 11 bankruptcy in 2016. The bankruptcy court confirmed the debtors’ plan in 2017, which established a liquidating trust for the debtors’ remaining...more
On March 14, 2024, the U.S. District Court for the Southern District of New York denied a motion by Citibank, N.A. for leave to file an interlocutory appeal of a bankruptcy court’s order denying a motion to dismiss fraudulent...more
The Bankruptcy Code provides that, in chapter 11 cases where the court does not find "cause" for the appointment of a trustee, the court "shall" appoint an examiner, upon a request from the Office of the U.S. Trustee (the...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
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
The scope of the Bankruptcy Code's "safe harbor" shielding certain securities, commodity, or forward-contract payments from avoidance as fraudulent transfers has long been a magnet for controversy, particularly after the U.S....more
In a 2021 ruling, the U.S. Court of Appeals for the Second Circuit revived nearly 100 lawsuits seeking to recover fraudulent transfers made as part of the Madoff Ponzi scheme. In one of the latest chapters in that resurrected...more
A powerful tool afforded to a bankruptcy trustee or a chapter 11 debtor-in-possession ("DIP") is the power to recover pre-bankruptcy transfers that are avoidable under federal bankruptcy law (or sometimes state law) because...more
We have previously blogged about the section 546(e) defense to a trustee’s avoidance powers under the Bankruptcy Code. A trustee has broad powers to set aside certain transfers made by debtors before bankruptcy. See 11...more
In most cases seeking recognition of a foreign bankruptcy proceeding in the United States under chapter 15 of the Bankruptcy Code, the foreign debtor's "foreign representative" has been appointed by the foreign court or...more
In earlier posts, the Red Zone has discussed the Supreme Court’s ruling in Siegel v. Fitzgerald, 142 S. Ct. 1770 (2022), which held that increased U.S. Trustee quarterly fees for large Chapter 11 debtors between 2018 and 2020...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
To prevent "trafficking in corporate shells," the Bankruptcy Code prohibits any discharge of corporate or partnership debts if the debtor is not an "individual" and, in a chapter 11 case, if the debtor proposes a liquidating...more
We have previously discussed the growing list of judicial decisions addressing the appropriate remedy for overpayment of U.S. Trustee (“UST”) quarterly fees. In U.S. Tr. Region 21 v. Bast Amron LLP (In re Mosaic Mgmt. Grp.,...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
Recent Developments in Bankruptcy Law - Cumulative, through April 2023 - 1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing...more
Back in June of 2022 we discussed the Tenth Circuit’s post-Sigel decision in John Q. Hammons Fall 2006 LLC v. U.S. Trustee (In re John Q. Hammons Fall 2006 LLC), 15 F.4th 1011 (10th Cir. Oct. 5, 2021), which held that the...more
In a previous blog post from June 2022, we discussed the Tenth Circuit’s post-Sigel decision in John Q. Hammons Fall 2006 LLC v. U.S. Trustee (In re John Q. Hammons Fall 2006 LLC), 15 F.4th 1011 (10th Cir. Oct. 5, 2021),...more
1. AUTOMATIC STAY - 1.1 Covered Activities - 1.1.a Court declines to enjoin third party claims against the debtor’s jointly liable parent corporation. The debtor manufactured earplugs for many years. A major multinational...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