PBWT

DECEMBER 13, 2020

Cuker Interactive, LLC filed a Chapter 11 bankruptcy petition on December 13, 2018, in the United States Bankruptcy Court for the Southern District of California. 1998), wherein a Bankruptcy Appellate Panel likewise held that solvent debtors must pay postpetition interest to unsecured creditors at the federal judgment rate. [8]

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PBWT

OCTOBER 15, 2020

It seems to be a common misunderstanding, even among lawyers who are not bankruptcy lawyers, that litigation in federal bankruptcy court consists largely or even exclusively of disputes about the avoidance of transactions as preferential or fraudulent, the allowance of claims and the confirmation of plans of reorganization.

Bankruptcy 65

Bankruptcy Acquisition Debtor Lawyers 65

ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . Congress passed the Small Business Reorganization Act of 2019 (“SBRA”) to give small businesses a better chance to successfully reorganize under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] John’s University School of Law.

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PBWT

NOVEMBER 15, 2020

The Bankruptcy Code enables a trustee to set aside certain transfers made by debtors before bankruptcy. See 11 U.S.C. §§ ” 11 U.S.C. § ” 11 U.S.C. § ” 11 U.S.C. § In 2008, Greektown Casino, Holdings, and other related entities filed for bankruptcy.

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) contains certain provisions addressing “single asset real estate” or “SARE.” [i] ii] Consequently, the designation of a debtor as a SARE may have significant ramifications in a case.

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ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 365(a) of title 11 of the United States Code (the "Bankruptcy Code") allows a bankruptcy trustee to assume and assign an executory contract of the debtor. [1] 11] Id. 15] Svenhard’s appealed. [16] 10] Id.

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Unsecured Creditor Bankruptcy Debtor Creditors 40

Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy.

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Creditors Bankruptcy Debtor Construction 56

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. In In re Brinskele , a bankruptcy court in California held that a judgment lien against Edward A. 5] The Spouse quit-claimed his interest in certain real property in Marin County, valued at $1,595,000.00, to the Debtor on April 23, 2012. [6] John’s University School of Law.

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Debtor Judgment Bankruptcy Creditors 40

Burr Forman

AUGUST 24, 2020

Cheese’s parent), many prominent companies have filed for bankruptcy protection in recent months. Most practitioners with no real exposure to bankruptcy law may be aware of the general ramifications of bankruptcy proceedings. In re Edgeworth , 993 F.2d 2d 51,56 (5th Cir.

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Bankruptcy Debtor Creditors Judgment 52

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Subject to court approval, a trustee or debtor in possession may assume or reject an executory contract or unexpired lease of a debtor under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). [i] John’s University School of Law.

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Debtor Bankruptcy Unsecured Creditor Secured Creditor 40

ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In In re McPherson , a Maryland bankruptcy court held that when a prepetition contract contains an arbitration clause, the bankruptcy court must defer to the arbitration as to the prepetition noncore claims. [1] John’s University School of Law.

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Bankruptcy Debtor Creditors 40

PBWT

APRIL 6, 2021

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. The debtor had married into a family that owned real estate assets in New Mexico, Colorado and Arizona and lived off income from two spendthrift trusts formed by his late wife.

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Unsecured Creditor Debtor Bankruptcy Creditors 65

PBWT

JANUARY 23, 2022

In August 2018, the car dealership filed for chapter 11 bankruptcy protection. A bankruptcy trustee sued the charity to void and recover the 2018 payment it received as a preferential transfer. 11 U.S.C. § 11 U.S.C. § 11 U.S.C. § 11 U.S.C. § In re Reagor Dykes Motors, LP, Case No.

Bankruptcy 52

Bankruptcy Debtor Law Firms Creditors 52

ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In Moyal v. 1] In February of 2019, Plaintiff David Moyal brought an action in New York state court for breach of a distribution agreement against a German company, Münsterland Gruppe GmbH & Co. John’s University School of Law. Münsterland Gruppe GmbH & Co.

Bankruptcy 40

Bankruptcy Debtor Creditors Banks 40

ABI

JANUARY 20, 2020

American Bankruptcy Institute Law Review, Staff Member. . In general, a debtor may reject an executory contract subject to court approval under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). John’s University School of Law. 1] In In re PG&E Corp. Energy Regulatory Comm’n, Adv. (

Bankruptcy 40

Bankruptcy Debtor Government 40

ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . The Small Business Reorganization Act of 2019 (“SBRA”) created a new subchapter V of chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] John’s University School of Law. 21]. . . [1] 1] See In re Blue, 630 B.R.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. A unique opportunity for Chapter 11 restructuring of small businesses with up to $7.5 million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million of third-party debt is set to expire early 2021. By Jerrold L.

Bankruptcy 45

Bankruptcy Creditors Debtor Lawyers 45

PBWT

MARCH 28, 2022

As a result of Purdue Pharma’s proposed plan of reorganization, and the ongoing opioid epidemic that continues to grip the nation, the debate over non-consensual third-party releases has gone mainstream despite being a popular tool for debtors for decades. See 11 U.S.C. § § 524(g). 2d 285 (2d Cir. 3d 126 (3d Cir.

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Debtor Bankruptcy Manufacturing Retail 65

ABI

JANUARY 24, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Maxus Energy Corporation , the United States Bankruptcy Court for the District of Delaware held that PSE&G could not file an amended proof of claim years after the bar date had passed on its timely-filed proof of claim. [1]

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Collection Industry News

OCTOBER 3, 2022

In the case of an appeal to a district court from a bankruptcy court, however, this statutory authority arguably conflicts with another statutory provision dictating that appeals from a bankruptcy court order or judgment be heard by a “district court” or a “bankruptcy appellate panel.” In Northern Pipeline Constr.

Bankruptcy 40

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Consumer Financial Services Law

JULY 21, 2021

Bankruptcy Court for the Eastern District of North Carolina. The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). 1795 (2019).

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Bankruptcy Debtor Creditors Loans 40

PBWT

FEBRUARY 1, 2021

Bankruptcy Judge Karen B. Ruling on plaintiff-debtor Southland Royalty Company LLC’s motion for partial summary judgment, Judge Owens found that Halliburton did not obtain a lien on Southland’s production of oil, natural gas, or their proceeds. Perfect your liens on time or you may lose them. in her recent decision.

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Bankruptcy Construction Debtor Acquisition 59

PBWT

AUGUST 24, 2020

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

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Debtor Bankruptcy Creditors Government 65

PBWT

JULY 23, 2020

Our February 26 post [1] reported on the first case dealing with the question whether a debtor in a pending Chapter 11 case may redesignate it as a case under Subchapter V, [2] the new subchapter of Chapter 11 adopted by the Small Business Reorganization Act of 2019 (“SBRA”), which became effective on February 19. [3]

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Bankruptcy Debtor Creditors 65

BN Lawyers

JUNE 12, 2019

On April 16, 2019 ruling in the U.S. Bankruptcy Court for the Northern District of Texas in the case of In re: Essential Financial Education, Inc. held that an involuntary bankruptcy petition filed under 11 U.S.C. Involuntary Bankruptcy Petition requirements . The Bankruptcy Court Ruling.

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Bankruptcy Creditors Debtor Education 52

PBWT

JUNE 22, 2021

In bankruptcy as in federal jurisprudence generally, to characterize something with the near-epithet of “federal common law” virtually dooms it to rejection. [1] Thus, the Court holds that EH-REIT is a business trust under Singapore law and, thus, an eligible debtor under the Bankruptcy Code. [13]

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Debtor Bankruptcy Government Collections 65

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 363(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that bankruptcy courts may authorize the trustee of a debtor to sell or lease property of the bankruptcy estate. [1] 1] 11 U.S.C. §

Bankruptcy 40

Bankruptcy Debtor Government 40

BN Lawyers

JUNE 18, 2019

However, this policy inevitably comes into conflict with the Bankruptcy Code, which is grounded on a policy of centralized dispute resolution. As a result, the courts have been left to determine when arbitration clauses are enforceable in bankruptcy. An April 16, 2019 ruling in the U.S. The Bankruptcy Court Ruling.

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Bankruptcy Debtor Creditors 52

ABI

MARCH 9, 2020

Bankruptcy Court May Refrain from Enforcing a Valid Arbitration Clause. . American Bankruptcy Institute Law Review Staff. . Generally, a court will enforce an arbitration clause in a contract, but may refrain from doing so under certain circumstances. [1] By: Laila Rizk. John’s University School of Law.

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Bankruptcy Debtor Collateral Construction 40

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In the U.S. Bankruptcy Code, there are various provisions that allow debtors and trustees to avoid certain types of prepetition transfers. [1] 11] In 2021, Petr sued BMO and Sun Capital seeking to avoid the $24.8

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Bankruptcy Financial Institution Loans Banks 40

PBWT

OCTOBER 25, 2020

There are several ways in which property owners can advantageously use the Bankruptcy Code to effectuate strategic dispositions of assets. But the bankruptcy process can be fraught with uncertainty that can upend the best laid plans. But the Agreement remained binding even in the absence of a formal bankruptcy case. ’ Id.

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Bankruptcy Creditors Debtor Judgment 52

Burr Forman

AUGUST 20, 2020

Relying on a plain reading of Sections 1188 and 1189 of the Bankruptcy Code, Bankruptcy Judge Scott M. The Court expressly disagreed with three decisions by bankruptcy judges in other states that have permitted debtors to re-designate their cases under Subchapter V and liberally granted extensions of these statutory deadlines. [3].

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Debtor Bankruptcy Creditors Government 40

In the Red

MAY 21, 2019

After dividing the courts for a number of years, we finally have the answer to the big question of whether rejection of a trademark license by a debtor-licensor deprives the licensee of the right to use the trademark. After various disputes over the Agreement, Tempnology filed Chapter 11. The Circuit Split.

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Bankruptcy Debtor Manufacturing Law Firms 100

PBWT

JULY 25, 2021

Some courts permit debtors to designate vendors crucial to their business as “critical vendors.” ” These vendors supply debtors with necessary goods or services. Debtors are permitted to pay them amounts owing when a bankruptcy case is filed. The debtors filed for chapter 11 on June 10, 2019.

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Debtor Bankruptcy Unsecured Creditor Creditors 65

ABI

JANUARY 26, 2023

1] In In re Szczyporski, the United States Court of Appeals for the Third Circuit held that the shared responsibility payment is a tax entitled to priority under Title 11 of the United States Code (the “Bankruptcy Code”). [2] 3] The IRS filed a proof of claim against the Debtors for unpaid taxes and interest, including a $927.00

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Bankruptcy Debtor Healthcare Government 40

PBWT

JULY 8, 2020

These claims are entitled to priority for actual and necessary goods and services supplied to a debtor in bankruptcy. For a claim to qualify for administrative expense status, a debtor must request that the claimant provide goods and services post-petition or induce the claimant to do so. § 503(b)(1)(A). June 30, 2020).

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Bankruptcy Unsecured Creditor Secured Creditor Debtor 52

ABI

JANUARY 26, 2023

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Gordos Restaurant Corp. , 1] Between 1972 and 2019, Gordon Krueger and Arthur Greason (the “Original Owners”) operated a restaurant and bar known as “Gordos.” [2] 5] Subsequently, the Debtor ceased operation in its original location. [6]

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