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Bankruptcy Code Bankruptcy Trustees

Troutman Pepper Locke

What Happens to My Unpaid Wages if My Employer Files for Bankruptcy? - Creditor’s Rights Toolkit

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When a company files for bankruptcy, it can be an unsettling time for the company's employees who may worry about job and financial security, including unpaid wages and employee benefits. While these concerns are legitimate,...more

Jones Day

New York Bankruptcy Court Adopts "Realistic Possibility" Standard for Free and Clear Sales Under 11 U.S.C § 363(f)(5)

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Section 363(f)(5) of the Bankruptcy Code allows a bankruptcy trustee to sell estate property free and clear of any competing interest in the property (such as a lien or other security interest) if the interest holder "could...more

Greenberg Glusker LLP

United States v. Miller: U.S. Supreme Court Narrows the Scope of Sovereign Immunity Abrogation Under Section 106(a)

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The United States Supreme Court has held that the sovereign immunity waiver in Section 106(a) of the Bankruptcy Code does not extend to state law claims “nested” within a Section 544(b) claim for relief, depriving bankruptcy...more

Jones Day

Business Restructuring Review Vol. 24, No. 3 | May–June 2025

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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

Jones Day

U.S. Supreme Court Rules that Bankruptcy Code Provides Only Limited Abrogation of Sovereign Immunity to Avoidance Actions

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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

Rivkin Radler LLP

Supreme Court Decision Limits Trustees’ Ability to Pursue Fraudulent Transfer Actions

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The Supreme Court recently issued an opinion, resolving a circuit split, narrowing the sovereign immunity exception by limiting a trustee’s ability to pursue avoidance actions against the government when such action invokes...more

Nelson Mullins Riley & Scarborough LLP

Supreme Court Limits Trustee Avoidance Powers in U.S. v. Miller - Section 106(a) Doesn’t Waive Sovereign Immunity for...

Section 106(a) Doesn’t Waive Sovereign Immunity for State-Law-Based Section 544(b) Claims - The U.S. Supreme Court has significantly curtailed bankruptcy trustees’ powers in United States v. Miller, 145 S. Ct. 839 (2025). In...more

Tarter Krinsky & Drogin LLP

The Supreme Court Limits A Trustee’s Rights To Recover Fraudulent Transfers Against The Internal Revenue Service

The Bankruptcy Code provides chapter 7 trustees with significant powers to liquidate and collect estate assets and pursue litigation claims, such as fraudulent transfer claims against third parties, all to increase the...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides United States v. Miller

On March 26, 2025, the United States Supreme Court decided United States v. Miller, No. 23-824, resolving a circuit split and holding that in an action brought under § 544(b) of the bankruptcy code, § 106(a)’s sovereign...more

Jones Day

New Jersey Bankruptcy Court: Motion Not Necessary to Assume Unexpired Lease

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The ability to assume, assume and assign, or reject executory contracts and unexpired leases is a power central to ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to maximize the value of the estate...more

Ervin Cohen & Jessup LLP

The Ultra Vires Exception to the Barton Doctrine is Very Narrow

Q: I am a state court receiver in a case that has been disrupted by a bankruptcy filing. The bankruptcy trustee has been threatening to sue me, in the bankruptcy court, for what she claims were negligent actions and to...more

Troutman Pepper Locke

What Types of Releases Are Contained in a Chapter 11 Plan, and Do I Have to Agree to Them? - Creditor’s Rights Toolkit

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Chapter 11 plans contain various releases – some in favor of the debtor and some in favor of certain nondebtor third parties. While creditors are bound by a Chapter 11 discharge, they have options for dealing with a plan's...more

Patterson Belknap Webb & Tyler LLP

The Barton Doctrine: Suit Against Receiver Did Not Require Court Permission

The Barton doctrine provides that a court-appointed receiver cannot be sued absent “leave of court by which he was appointed.” Barton v. Barbour, 104 U.S. 126, 127 (1881). “An action against a receiver without court...more

Nelson Mullins Riley & Scarborough LLP

United States v. Miller Oral Argument: Supreme Court Justices Seem Divided on Issues of Allowing a Trustee to Sue the IRS for...

This author previously wrote an article published in Bloomberg Law regarding the Supreme Court’s decision to take up an appeal of a decision on the Tenth Circuit Court of Appeals in United States v. Miller. In Miller, the...more

Hendershot Cowart P.C.

Executory Contracts and Contract Rejection: What Non-Debtors Need to Know About Bankruptcy

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Bankruptcy debtors have special rights in contracts or leases where both parties have outstanding obligations, known in legal terms as “executory contracts” or “unexpired leases”. If you are doing business with a company that...more

Husch Blackwell LLP

Protecting Energy Project Buyout Rights From Developer Bankruptcy

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Energy development contracts commonly permit landlords (on whose land the energy project is constructed) a buyout right with respect to the project, often for a nominal payment… but that right isn’t guaranteed in the event of...more

Jones Day

Business Restructuring Review Vol. 23 No. 4 | July–August 2024

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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

Jones Day

Ohio Bankruptcy Court Offers Guidance on (the Amended) Ordinary Course Payment Preference Defense

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To encourage vendors and other creditors to continue doing business with financially distressed entities, the Bankruptcy Code includes various defenses to litigation brought by a bankruptcy trustee or chapter 11...more

Jones Day

First Impressions: Seventh Circuit Rules that the Bankruptcy Code's "Safe Harbor" for Securities Contracts Transfers Applies to...

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Section 546(e) of the Bankruptcy Code's "safe harbor" preventing avoidance in bankruptcy of certain securities, commodity, or forward-contract payments has long been a magnet for controversy. Several noteworthy court rulings...more

Rosenberg Martin Greenberg LLP

Timing May Be Everything When Employing Bankruptcy Professionals

When Byron David filed a Chapter 7 bankruptcy case in July of 2018, Donald King was appointed Chapter 7 trustee. King filed an application to retain a law firm as his counsel. The bankruptcy court granted that application....more

Fleurinord Law PLLC

How Irrevocable Trusts Can Protect Assets from Bankruptcy & Divorce in Florida

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In the complex world of estate planning, irrevocable trusts offer a robust mechanism for protecting assets from various threats, including bankruptcy and divorce. This article delves into the specific protections offered by...more

King & Spalding

The Seventh Circuit Upholds District Court’s Decision That Safe Harbor Provision of Section 546(e) Applies to Privately Held...

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A recent ruling from the United States Court of Appeals for the Seventh Circuit provides additional comfort for lenders receiving full repayment in connection with leveraged acquisitions. The U.S. Bankruptcy Code gives...more

Levenfeld Pearlstein, LLC

Subchapter V Trustee Fees Protected as Administrative Expenses Outside the Ordinary Course of Business

Since its inception, Subchapter V of chapter 11 of the United States Bankruptcy Code has raised novel questions for practitioners to consider and, ultimately, for courts or legislators to address. One of these issues – the...more

Jones Day

Texas Bankruptcy Court: Debtor's Non-Economic Rights Under LLC Agreement Are Estate Property Protected by Automatic Stay

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The Bankruptcy Code invalidates "ipso facto" clauses in executory contracts or unexpired leases that purport to modify or terminate the contract or lease (or the debtor's rights or obligations under the contract or lease)...more

Jones Day

Business Restructuring Review November–December 2023 | Vol. 22 No. 6

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Health Care Provider Bankruptcy Update: Patient Care Ombudsman Not Necessary In Every Health Care Business Bankruptcy Case - Recent headlines have starkly illuminated the headwinds facing health care providers struggling...more

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