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Debtors Bankruptcy Trustees Fraudulent Transfers

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

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

Patterson Belknap Webb & Tyler LLP

Second Circuit Rejects Former Real Estate Mogul's Appeal

After years of litigation involving state, federal, Irish, and (to a lesser extent) Swiss law; transfers of numerous assets, including Ireland’s priciest-personal residence; a jury trial; and extensive post-trial briefing,...more

Jones Day

Seventh Circuit: No Avoidance of Preferential or Fraudulent Transfer Absent Diminution of the Estate

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In Mann v. LSQ Funding Group, L.C., 71 F.4th 640 (7th Cir. 2023), reh'g denied, 2023 WL 4684702 (7th Cir. July 21, 2023), the U.S. Court of Appeals for the Seventh Circuit affirmed the entry of summary judgment by a Wisconsin...more

Patterson Belknap Webb & Tyler LLP

Tenth Circuit Holds that Sovereign Immunity Does Not Limit Section 544 Claim

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

UB Greensfelder LLP

Chasing the Crypto: Why a Ruling in the Madoff Case May Significantly Expand the Universe of FTX Clawback Defendants

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While there are still many unknowns in FTX’s bankruptcy including what, exactly, happened to billions of dollars of customer deposits on the former crypto trading platform, one thing is almost certain: there will be an...more

Greenberg Glusker LLP

[Webinar] Breaking Down Bankruptcy Fraudulent Transfer and Preference Actions for Attorneys - September 15th, 10:00 am - 11:00 am...

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This presentation is prepared for in-house counsel and other attorneys practicing outside of the bankruptcy space and will address the following questions that often arise when dealing with a party that later goes into...more

Jones Day

Another Court Adopts Majority View in Approving Bankruptcy Trustee's Use of Tax Code Look-Back Period in Avoidance Actions

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The ability of a bankruptcy trustee or chapter 11 debtor-in-possession ("DIP") to avoid fraudulent transfers is an important tool promoting the bankruptcy policies of equality of distribution among creditors and maximizing...more

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