disappointed figures on road to Detroit
(NYLJ/Monika Kozak/Bigstock)

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How Detroit’s Chapter 9 Case Could Affect New York Municipalities

Paul J. Labov and Dana G. Hefter of Edwards Wildman Palmer explore the Dec. 5, 2013 Eastern District of Michigan opinion (determining that Detroit was eligible to be a Chapter 9 debtor) and analyze the effect it could have on municipalities eligible to file for Chapter 9 protection in New York.

SCOTUS to Rule on Powers of Bankruptcy Judges

Jeffrey A. Wurst and Jon H. Ruiss Jr. of Ruskin Moscou Faltischek discuss ‘Executive Benefits Insurance Agency v. Arkison’, a bankruptcy matter now being considered by the U.S. Supreme Court, and highlight the effect should the court follow the direction proposed by the appellant in that matter.

Utilizing Pre-Approved Retainers Under Code Section 328

Seth H. Lieberman, partner at Pryor Cashman, provides a description of the retention of bankruptcy professionals under the Bankruptcy Code; discusses and analyzes ‘Smart World’ and its impact on the fee requests of bankruptcy professionals retained under Code section 328; and, in light of ‘Smart World’, provides practical tips to professionals seeking retention and payment under that Code section.

Debtors’ Delusions of Bankruptcy

Leslie Berkoff, a partner of Moritt Hock & Hamroff, explores a few cases that demonstrate how the failure to appreciate the law and the impact of a bankruptcy filing can lead to nothing more than delay, wasted resources and, at times, disaster for the debtor.