Searching Content indexed under Financial Restructuring by Duane Morris LLP ordered by Published Date Descending.
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Court: New Value Need Not Remain Unpaid To Limit Preference Liability
In Kaye v. Blue Bell Creameries (In re BFW Liquidation), 899 F.3d 1178 (11th Cir. 2018), the U.S. Court of Appeals for the Eleventh Circuit found that a liability for an allegedly preferential transfer may be reduced ...
United States
22 Oct 2018
Supreme Court Resolves Circuit Split On Issue Of Whether Statement About A Single Asset Is One Respecting Debtor's Financial Condition
Section 523(a)(2) was enacted to place limits on the Bankruptcy Code's "fresh start" policy by protecting victims of fraud.
United States
3 Jul 2018
SCOTUS Prohibits Non-Consensual Structured Dismissals in Deviation of Bankruptcy Code Priority Scheme
In Czyzewski et al. v. Jevic Holding Corp., et al., 580 U.S. __ (2017), decided on March 22, 2017, the United States Supreme Court held that a bankruptcy court cannot approve a non-consensual "structured dismissal" that provides for distributions deviating from the ordinary priority scheme of the Bankruptcy Code.
United States
30 Mar 2017
Second Circuit Reverses Lower Court's Restrictions On The Restructuring Of Bondholder Rights In Marblegate
Recently, in a split (2-1) decision, the United States Court of Appeals for the Second Circuit overturned the United States District Court for the Southern District of New York's decision...
United States
17 Feb 2017
Singapore Unveils New Proposed Debt Restructuring Legislation
Singapore's Ministry of Law has unveiled proposed amendments to the Singapore Companies Act to be made in 2017 to strengthen Singapore as an International Centre for Debt Restructuring.
21 Dec 2016
Singapore Accepts Recommendations To Strengthen Debt Restructuring
On 20 July 2016, Singapore's Ministry of Law accepted the recommendations of the Committee to Strengthen Singapore as an International Centre for Debt Restructuring (the "Committee").
United States
28 Jul 2016
U.S. Supreme Court Addresses Authority Of Federal Bankruptcy Courts To Enter Final Orders And Judgments
In Wellness International Network, Ltd. v. Sharif, Case No. 13-935, 575 U.S. ___ (2015) ("Wellness"), the Supreme Court of the United States was presented with yet another question regarding the authority of federal bankruptcy courts to enter final orders and judgments in certain proceedings.
United States
27 May 2015
SEC Temporary Asset Freeze Not Barred By Automatic Stay Provisions
an effort to protect the property of a bankruptcy estate, Section 362(a) of the U.S. Bankruptcy Code imposes an automatic stay on most proceedings against a debtor in bankruptcy.
United States
18 Apr 2015
Debtors May Be Denied Discharge For Inadequate Financial Records
In Harrington v. Simmons (In re Simmons), 513 B.R. 161 (Bankr. D. Mass. 2014), the U.S. Bankruptcy Court for the District of Massachusetts considered the U.S. trustee's request that a Chapter 7 debtor be denied a discharge for his failure to maintain adequate financial records or satisfactorily explain the loss of his assets.
United States
9 Feb 2015
Section 1113 Applies To Expired Collective Bargaining Agreements
Recently, in the case of In re Trump Entertainment Resorts, the U.S. Bankruptcy Court for the District of Delaware addressed the issue of whether a debtor has the authority to reject an expired collective bargaining agreement.
United States
20 Nov 2014
Proceed With Caution When Foreclosing In Washington State: Split Decisions Regarding Deficiency Claims
Last week, the Washington Court of Appeals, Division One, ruled that, notwithstanding the anti-deficiency provision in the state's Deeds of Trust Act, a lender can pursue a deficiency judgment against a guarantor following a non-judicial foreclosure of the property securing the underlying borrower's obligation.
United States
1 Mar 2014
Public Works Projects And Municipal Bankruptcies
The good news is that public works construction projects for municipalities are projected to remain a major sector of construction activity for the foreseeable future.
United States
24 Jan 2014
Second Circuit Ruling Appears To Limit Ability Of U.S. Bankruptcy Courts To Assist Foreign Debtors
In Drawbridge Special Opportunities Fund LP v. Barnet (In re Barnet), Case No. 13-612, 2013 WL 6482499 (2d Cir. Dec. 11, 2013), the United States Court of Appeals for the Second Circuit held that in order for a foreign representative to achieve "recognition" of a foreign debtor's insolvency proceedings in another country as "foreign main proceedings" under chapter 15 of the United States Bankruptcy Code—11 U.S.C. § 101, et seq. (the "Bankruptcy Code")—the foreign debtor must satisfy the "eligibi
United States
18 Dec 2013
Nevada Ruling Suggests Lenders Wait Until Foreclosure Before Pursuing Guarantor Claim
In a recent case, the Supreme Court of Nevada agreed that a lender needed to wait until the completion of a foreclosure sale before making a deficiency claim against a guarantor.
United States
4 Mar 2013
Supreme Court To Address Circuit Split Over 'Defalcation' Meaning
In a corporate system based in part on the separation of ownership and control, the relationship between principals and agents is riddled with agency problems.
United States
29 Nov 2012
Supreme Court Addresses Circuit Split Over Cramdown Plans Precluding Credit Bidding
In a docket crowded with blockbuster cases this term, the Supreme Court's decision concerning the circuit split over cramdown plans precluding credit bidding by secured lenders may not stoke as much passion or fury as the cases concerning the Patient Protection and Affordable Care Act or Arizona's immigration law, but RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 132 S. Ct. 845 (2011) is arguably one of the more important business bankruptcy cases in over a decade.
United States
28 May 2012
Fifth Circuit Expands Documents Applicable To Determining Claim Preservation
In a matter of apparent first impression, in Spicer v. Laguna Madre Oil & Gas II LLC (In re Texas Wyoming Drilling Inc.), the 5th U.S. Circuit Court of Appeals held in an opinion dated July 21 that it was permissible to consider both a plan of reorganization and its accompanying disclosure statement when determining whether a debtor had sufficiently preserved certain causes of action pursuant to § 1123 of the Bankruptcy Code.
United States
6 Jan 2012
Trustee's Fraudulent Transfer Complaint Survives Motion To Dismiss
In its Jan. 11 opinion in In re DBSI Inc., the U.S. Bankruptcy Court for the District of Delaware held that a trustee's complaint seeking to recover actual and constructively fraudulent transfers satisfied the heightened pleading requirements set forth in Rule 9(b) and post-Twombly.
United States
12 Mar 2011
Creditors Entitled to 'Reasonable' Fees Incurred Pursuing Self Interest
On Nov. 18, in In re Adelphia Communications Corp., the U.S. Bankruptcy Court for the Southern District of New York addressed the question of whether ad hoc committees and individual creditors of a debtor are entitled to reimbursement of their legal fees and other professional expenses where the debtor's confirmed and effective Chapter 11 plan of reorganization authorized payment of creditors' "reasonable" fees and expenses.
United States
3 Feb 2011
Bankruptcy Court Reinforces New Value Defense to Preference Claims
In Bogdanov v. Avnet Inc. ("In re Amherst Techs. LLC" ), the U.S. Bankruptcy Court for the District of New Hampshire followed the majority of circuits in holding, in connection with the defense of a § 547 preference action: (1) that "new value" is given when a creditor provides some actual value to the estate; (2) that new value need not remain unpaid in order to allow the preference defendant to offset the new value against previous payments; and (3) that an otherwise preferential payment used
United States
29 Dec 2010
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