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
Fifth circuit rules that serta simmons uptier violated credit agreement, rejects equitable mootness as bar to review of chapter 11 plan confirmation order and excises plan indemnification provision...more
3/31/2025
/ Assignments ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Comity ,
Commercial Bankruptcy ,
Corporate Restructuring ,
Credit Agreements ,
Debt Restructuring ,
Debtors-in-Possession ,
Equitable Mootness ,
Financial Distress ,
Foreign Bankruptcies ,
Indemnification Clauses ,
Restructuring
In In re Pack Liquidating, LLC, 2024 WL 409830 (Bankr. D. Del. Feb. 2, 2024), the U.S. Bankruptcy Court for the District of Delaware ruled that, in accordance with Third Circuit precedent, the Bankruptcy Code, rather than...more
6/6/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Chapter 7 ,
Commercial Bankruptcy ,
Consumer Bankruptcy ,
Corporate Restructuring ,
Creditors ,
Debtors ,
Debtors-in-Possession ,
Estate Claims ,
FDIC ,
Mootness
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
2/13/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 13 ,
Chapter 15 ,
Commercial Bankruptcy ,
Cryptocurrency ,
Debtors ,
Debtors-in-Possession ,
Dismissals ,
Financial Institutions ,
Insolvency ,
Jurisdiction ,
Mass Tort Litigation ,
Remedies ,
Special Purpose Acquisition Companies (SPACs) ,
Trustees
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
12/12/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Chapter 15 ,
Commercial Bankruptcy ,
Cross-Border ,
Debtors ,
Debtors-in-Possession ,
Foreign Banks ,
Legal Representatives ,
New York ,
Power of Attorney ,
Trustees
FIFTH CIRCUIT WEIGHS IN ON BANKRUPTCY ASSET SALES FREE AND CLEAR OF LEASEHOLD INTERESTS -
The ability of a trustee or chapter 11 debtor-in-possession (“DIP”) to sell bankruptcy estate assets “free and clear” of competing...more
In This Issue:
Tenant's Election to Retain Possession of Rejected Lease Premises Preserves Obligations Under Related Agreements -
Section 365(h) of the Bankruptcy Code provides special protection for tenants if a...more
The ability of a bankruptcy trustee to avoid certain transfers of a debtor's property and to recover the property or its value from the transferees is an essential tool in maximizing the value of a bankruptcy estate for the...more
The practice of conferring "derivative standing" on official creditors' committees to assert claims on behalf of a bankruptcy estate in cases where the debtor or a bankruptcy trustee is unwilling or unable to do so is a...more
10/21/2020
/ Bankruptcy Code ,
Breach of Duty ,
Chapter 11 ,
Chapter 7 ,
Commercial Bankruptcy ,
Creditors ,
Debtors-in-Possession ,
Equitable Subordination ,
Limited Liability Company (LLC) ,
Real Party in Interest ,
Standing
In McKillen v. Wallace (In re Irish Bank Resolution Corp. Ltd.), 2019 WL 4740249 (D. Del. Sept. 27, 2019), the U.S. District Court for the District of Delaware had an opportunity to consider, as an apparent matter of first...more
2/27/2020
/ Adversary Proceedings ,
Appeals ,
Automatic Stay ,
Bankruptcy Code ,
Bankruptcy Court ,
Barton Doctrine ,
Breach of Duty ,
Chapter 15 ,
Court-Appointed Receivers ,
Debtors-in-Possession ,
Extraterritoriality Rules ,
Personal Liability ,
Trustees