In one of the first decisions from a United States court involving alleged overreaching by an offshore fund, the Bankruptcy Court for the Southern District of New York, in In re Stillwater Asset Backed Offshore Fund Ltd., 2013 Bankr. LEXIS 226, 57 Bankr. Ct. Dec. 127, recently denied a motion by the putative debtor, an offshore fund incorporated in the Cayman Islands, to dismiss an involuntary petition filed under the U.S. bankruptcy laws.

Law360, New York (July 10, 2012, 12:36 PM ET) -- "This is an easy case," Justice Antonin Scalia wrote in his brief, 12-page, May 29, 2012, opinion that settles the issue of whether the Bankruptcy Code grants the secured creditor a right to credit bid in an auction sale under a plan.