United States Bankruptcy Court for the District of Delaware Holds That Litigation Trustee May Pursue State Law Fraudulent Conveyance Claims, Notwithstanding Bankruptcy Code Safe Harbors -
On June 20, 2016, the United...more
In a June 3, 2016 decision, the United States Bankruptcy Court for the District of Delaware (“the Bankruptcy Court”) invalidated, on federal public policy grounds, a provision in the debtor-LLC’s operating agreement that it...more
In its recently issued decision in Husky International Electronics, Inc. v. Ritz, a 7-1 majority of the Supreme Court has clarified that intentionally fraudulent transfers designed to hinder or defraud creditors can fall...more
The Bankruptcy Code contains “safe harbors” that, among other things, exempt transfers made in connection with certain financial contracts, including securities contracts, from avoidance by the bankruptcy trustee as...more
On September 30, 2015, the United States District Court for the Southern District of New York (the “District Court”) denied the motion of Lehman Brothers Holdings Inc. (“LBHI,” and collectively with all of LBHI’s...more
In a blow to the Lehman Chapter 11 estates, the United States Bankruptcy Court for the Southern District of New York held on September 16, 2015 that Intel Corporation’s Loss calculation resulting from a failed transaction...more
On June 29, 2015, the United States Court of Appeals for the Second Circuit affirmed the decision of the United States Bankruptcy Court for the Southern District of New York, which held that claims asserted by counterparties...more
7/16/2015
/ Appeals ,
Bankruptcy Code ,
Bilateral Agreements ,
Broker-Dealer ,
Commercial Bankruptcy ,
Contract Interpretation ,
Creditors ,
Lehman Brothers ,
Repurchases ,
SIPA ,
Stock Repurchases ,
Trustees
On May 21, 2015, the United States Court of Appeals for the Third Circuit affirmed a decision of the United States Bankruptcy Court for the District of Delaware, which had approved the structured dismissal of the Chapter 11...more
In a memorandum decision dated May 4, 2015, Judge Vincent L. Briccetti of the United States District Court for the Southern District of New York affirmed the September 2014 decision of Judge Robert D. Drain of the United...more
Dealing a major blow to the trustee’s efforts to recover fraudulent transfers on behalf of the bankruptcy estate of the company run by Bernard Madoff, Judge Jed S. Rakoff of the United States District Court for the Southern...more
8/6/2014
/ Bankruptcy Code ,
Bernie Madoff ,
Commercial Bankruptcy ,
Cross-Border ,
Extraterritoriality Rules ,
Feeder Funds ,
Foreign Investment Fund ,
Fraudulent Transfers ,
Insolvency ,
Judge Rakoff ,
Popular
The United States Bankruptcy Court for the Southern District of New York recently entered a memorandum opinion in the Lehman Brothers Inc. (LBI) proceeding under the Securities Investor Protection Act (SIPA). The Bankruptcy...more