Seyfarth Shaw LLP
On March 30, the Third Circuit Court of Appeals filed an opinion regarding whether the filing of a mechanic's lien after the commencement of a bankruptcy case violates the automatic stay.
Cadwalader, Wickersham & Taft LLP
In two executive memoranda, President Donald J. Trump directed the U.S. Department of the Treasury to review key elements of the Dodd-Frank post-crisis regulation.
Stroock & Stroock & Lavan LLP
Stroock is pleased to announce the publication of A Guide to the Bankruptcy Law of the United States.
Sheppard Mullin Richter & Hampton
The federal Bankruptcy Code is nearly 40 years old, and as one might expect, bankruptcy practice has evolved in a myriad of ways since its enactment.
Kramer Levin Naftalis & Frankel LLP
In a three-line order, the Delaware Supreme Court recently affirmed the Court of Chancery's dismissal of a suit by a creditor against Athilon Capital Corp.
Kutak Rock LLP
Many "all assets" UCC financing statements contain language in the collateral description which expands upon, illustrates or explains that "all assets" means all of a debtor's assets.
Burns & Levinson LLP
When entering into a new venture, it is not uncommon for a new legal entity to be formed in order to insulate an existing company from the liabilities associated with the new business.
A bankruptcy judge in the Eastern District of California recently issued a decision that is sure to raise appellate eyebrows.
Holland & Knight
In a 6-2 decision, the U.S. Supreme Court ruled in favor of the petitioners in Czyzewski, et al. v. Jevic Holding Corp, et al., reversing the decision of the U.S. Court of Appeals for the Third Circuit.
The Nortel court also partially sustained the objection of two investment funds holding 90 percent of the bonds to a portion of the professional fees asserted by the indenture trustee's attorneys.
An important aspect of the Puerto Rico Oversight, Management, and Economic Stability Act, 48 U.S.C. §§ 2101–2241 ("PROMESA")—the temporary stay of creditor collection efforts that came into effect upon its enactment—was the subject of a ruling handed down by the U.S. Court of Appeals for the First Circuit.
Chapter 15 of the Bankruptcy Code offers an effective mechanism for U.S. courts to provide assistance to non-U.S. courts presiding over the insolvency proceedings of foreign debtors with assets located in the U.S.
Herrick, Feinstein LLP
A seller's failure to give notice of a bankruptcy sale of real property to a party who had a right of first refusal led a bankruptcy court to rule that the right of first refusal survived the seller's bankruptcy...
With its landmark ruling in Deutsche Bank Trust Co. Ams. v. Large Private Beneficial Owners (In re Tribune Co. Fraudulent Conveyance Litig.), 818 F.3d 98 (2d Cir. 2016) ("Tribune 1"), ...
Thus, it concluded that Congress did not authorize a "rare case" exception to the ordinary priority rules.
The ability to avoid fraudulent or preferential transfers is a fundamental part of U.S. bankruptcy law.
Foley & Lardner
The Court noted that during a reorganization case, bankruptcy courts routinely approve interim distributions of estate assets in ways that violate the priority distribution scheme.
Thompson Coburn LLP
When faced with a recalcitrant debtor, clients sometimes move too quickly to put the debtor into an involuntary bankruptcy, especially when fraudulent transfers become apparent.