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New York Bankruptcy Code Debtors

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

Loeb & Loeb LLP

SDNY Bankruptcy Court Explains Differences Between Preferential Judicial Liens v. Statutory Liens

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In Firstbase.io, Inc. v. Harbor Business Compliance Corporation, No. 24-04043, 2025 Bankr. LEXIS 1092 (Bankr. S.D.N.Y.), the U.S. Bankruptcy Court for the Southern District of New York found that a judgment execution lien...more

Skadden, Arps, Slate, Meagher & Flom LLP

SDNY Amends Local Bankruptcy Rules To Streamline Chapter 11 Processes

The U.S. Bankruptcy Court for the Southern District of New York (SDNY) has issued a general order amending its Local Bankruptcy Rules. The amendments introduce a broad set of changes that will impact all types of bankruptcy...more

Jones Day

New York Bankruptcy Court: Lockup Provision in Proposed Settlement Agreement Violated Bankruptcy Code's Disclosure and...

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A bedrock principle underlying chapter 11 of the Bankruptcy Code is that creditors, shareholders, and other stakeholders should be provided with adequate information to make an informed decision to either accept or reject a...more

Pillsbury Winthrop Shaw Pittman LLP

Bankruptcy Court Rejects Attempts to Lock Up Creditor Votes in Favor of Reorganization Plan

Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts. The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more

Jones Day

New York Bankruptcy Court: Setoff and Unjust Enrichment Cannot Be Asserted as Affirmative Defenses in Bankruptcy Avoidance...

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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

Jones Day

New York Bankruptcy Court: Foreign Representative in Chapter 15 Case Need Not Be Appointed by Foreign Court

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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

Pillsbury Winthrop Shaw Pittman LLP

Time Approach Applied to Cap Rent Claim in Century 21 Bankruptcy Cases

New York bankruptcy court breaks with precedent and endorses time approach for calculating lease termination damages over rent amount approach, resulting in smaller claims for landlords. Time approach limits, and often...more

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