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PRACTICE COLUMNS
Bankruptcy Law
Seventh Circuit Applies Adequacy of Notice in Bankruptcy Case
Friday, November 20, 2009
Adequate notice, both in terms of its substantive content and its provision of appropriate time to take action in response, is one of the linchpins of an effective bankruptcy system.
SPONSOR SPOTLIGHT
Two Bankruptcy Cases Set to Come Before the U.S. Supreme Court
Friday, November 6, 2009
During its current term, the U.S. Supreme Court will hear argument in two critical bankruptcy cases.
Double Duty: UCC Definition of Goods Same for §503(b)(9)
Friday, October 16, 2009
As most practitioners know, the Bankruptcy Code imposes a specific priority scheme that controls the payment of claims. The higher the priority of a particular claim, the more likely it is to be paid.
Delaware Court Reviews Prior Ruling on 'Stub Rent'
Thursday, October 8, 2009
Last month, the U.S. Bankruptcy Court for the District of Delaware took up once again the thorny issues of the allowance and payment of "stub rent" as an administrative expense, as well as real estate taxes relating to pre-petition periods but billed post-petition.
Journal Register Case Reaffirms the Vitality of 'Gift' Plans
Friday, September 18, 2009
In a recent decision by the U.S. Bankruptcy Court for the Southern District of New York in In re Journal Register Co., the bankruptcy court held that under a plan of reorganization a senior creditor may agree to gift a portion of its recovery to a junior creditor, even though the recipient receives a larger recovery than similarly situated creditors.
Stay Violation Damages -- Not Just a Debtor's Remedy Any More
Friday, September 4, 2009
Possibly the single most powerful tool available to a debtor in a bankruptcy proceeding is the automatic stay, which generally prevents creditors and other parties from taking action against the debtor's property without court permission.
Understanding Bankruptcy Preference Litigation and How Best to Avoid It
Monday, August 31, 2009
If you are a business owner who has avoided being named as a defendant in a bankruptcy preference action, count your blessings and the money that you have been lucky or skilled enough to keep in the bank.
Chrysler's Bankruptcy Case: Plans, Sales and Automobiles
Friday, August 21, 2009
Last week, two months after the closing on the underlying sale, the 2nd U.S. Circuit Court of Appeals issued an opinion explaining its affirmance of the bankruptcy court's approval of the sale in the Chrysler bankruptcy case. As has been well-publicized, Chrysler filed for bankruptcy at the end of April and sought quick approval of a sale of all of its assets to a new entity with a different equity structure pursuant to Section 363 of the Bankruptcy Code.
UCC 'Goods' Definition Applies to Section 503(b)(9) of Bankruptcy Code
Friday, August 7, 2009
In In re Plastech Engineered Products Inc., the U.S. Bankruptcy Court for the Eastern District of Michigan held that the Uniform Commercial Code's definition of "goods" applies in determining whether a claim is entitled to administrative expense priority under Section 503(b)(9) of the Bankruptcy Code, which grants such priority to claims for the value of goods received by the debtor within 20 days before the petition date.
Non-Dischargeability Meets the Law of Assignments
Friday, July 10, 2009
If a debt is incurred by virtue of a false financial statement on which the creditor relied, and that debt is then assigned to a third party, can the assignee of that debt claim successfully that the right to have the debt declared non-dischargeable was included in "all of the rights" conferred by the assignment?
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