PBWT

OCTOBER 24, 2022

bankruptcy court recently denied chapter 15 recognition to a case in the Isle of Man (IOM). Although the court found that the IOM proceeding was a “foreign proceeding,” it also held that the debtor’s center of main interests wasn’t in the IOM and the debtor didn't have an establishment there.

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Bankruptcy Debtor Creditors Government 65

ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In Ferrandino & Son, Inc. Sahene Construction L.L.C. ( In re Sahene Construction), the United States Bankruptcy Court for the District of Louisiana held that a non-debtor defendant was not entitled to protection of an automatic stay.

Debtor 40

Debtor Construction Bankruptcy Judgment 40

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff In In re PG&E Corp. , the United States Court of Appeals for the Ninth Circuit held that solvent-debtors are required to pay unimpaired creditors their bargained for post-petition interest rate. [1] 1] In January 2019, PG&E Corp.

Debtor 40

Debtor Bankruptcy Creditors Unsecured Creditor 40

Troutman Sanders

JANUARY 18, 2023

Throughout the latter half of 2022, filing for bankruptcy became a reality for many high-profile crypto firms. However, on June 12, 2022, Celsius issued a memo informing its customers of its decision to pause withdrawals from the platform due to “extreme market conditions.” But on January 4, 2023, the U.S.

Bankruptcy 98

Bankruptcy Debtor Government Collections 98

PBWT

SEPTEMBER 30, 2022

To encourage parties to transact with debtors in bankruptcy, the Bankruptcy Code in corporate bankruptcies provides highest priority to “administrative expenses,” which include “the actual, necessary costs and expenses of preserving the estate.” ” 11 U.S.C. § ” 11 U.S.C. §

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Bankruptcy Debtor Lender Government 112

PBWT

JANUARY 30, 2023

The concept of “property of the estate” is important in bankruptcy because it determines what property can be used or distributed for the benefit of the debtor’s creditors. See 11 U.S.C. § See 11 U.S.C. § § 541. § 541. In re Celsius Network LLC , Case No. 22-10964 (MG), 2023 Bankr.

Bankruptcy 65

Bankruptcy Debtor Unsecured Creditor Creditors 65

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Section 362 of title 11 of the United States Code (the “Bankruptcy Code”) provides that the filing of a bankruptcy petition results in an automatic stay generally enjoining all actions, including a foreclosure sale, against a debtor or its property. [1]

Foreclosure 40

Foreclosure Debtor Bankruptcy Judgment 40

PBWT

FEBRUARY 10, 2022

“[E]nsnared between his involvement in a business that is legal under the laws of Arizona but illegal under federal law,” one debtor’s chapter 13 petition was recently dismissed due to his undisputed violations of the Controlled Substances Act. Bankruptcy Court for the District of Arizona. ” The U.S.

Bankruptcy 68

Bankruptcy Manufacturing Debtor Retail 68

Collection Industry News

DECEMBER 17, 2022

The number of bankruptcy filings by private equity-backed companies in the U.S. edged higher in 2022, with the consumer sector, battered by supply chain disruptions and surging inflation, leading the pack. Forty-nine private equity portfolio companies have filed for bankruptcy in 2022, representing 6.6%

Bankruptcy 40

Bankruptcy Lender Healthcare Debtor 40

ABI

JANUARY 26, 2023

John’s University School of Law American Bankruptcy Institute Law Review Staff Title 11 of the United States Code (the “Bankruptcy Code”) provides debtors with “a fresh start” by granting them a discharge of most debts. [1] 1] However, there are exceptions to discharge, including 11 U.S.C. § 523(a)(2)(A). [14]

Debtor 40

Debtor Bankruptcy Creditors 40

PBWT

OCTOBER 30, 2022

The ramifications of uneven increases to fees in chapter 11 bankruptcies continue to ripple through federal courts. Trustee fees chapter 11 debtors had to pay in virtually every district in the U.S. Trustee program, especially in large bankruptcy cases. Trustee program, especially in large bankruptcy cases.

Bankruptcy 65

Bankruptcy Debtor Government Judgment 65

Burr Forman

JANUARY 26, 2022

Meek have been recognized in the January 2022 issue of Lawdragon’ s “500 Leading Bankruptcy & Restructuring Lawyers” List. Lawdragon says, “The start of the pandemic brought expectations for mountains of commercial bankruptcy work. Hall, David W. Houston IV, and Derek F. And while that has not (yet?)

Lawyers 52

Lawyers Bankruptcy Unsecured Creditor Creditors 52

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. the “Debtor”) $1.5 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]

Secured Creditor 40

Secured Creditor Bankruptcy Debtor Collateral 40

PBWT

AUGUST 29, 2022

A bankruptcy court ruled that a creditor didn’t need to seek derivative standing to sue a liquidating trustee. The creditor, himself a trustee of the debtor’s employee stock-option plan, had standing to sue without prior court permission because his suit wasn’t brought on behalf of the bankruptcy estate.

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Creditors Debtor Bankruptcy 65

PBWT

JANUARY 23, 2022

20-05031, 2022 LEXIS 70 (Bankr. 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. §

Bankruptcy 52

Bankruptcy Debtor Law Firms Creditors 52

ABI

JANUARY 19, 2024

John's University School of Law American Bankruptcy Institute Law Review Staff Section 727(b) of title 11 of the United States Code (the “Bankruptcy Code”) provides that a Chapter 7 debtor’s bankruptcy discharge eliminates the debtor’s liability for “all debts that arose before the date of the order of relief.” [1]

Bankruptcy 40

Bankruptcy Debtor Creditors Judgment 40

ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff One of the requirements a debtor must meet in order to be eligible for Subchapter V of Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) is that it must be "engaged in commercial or business activities." [1]

Debtor 40

Debtor Bankruptcy Unsecured Debt Creditors 40

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Under title 11 of the United States Code (the “Bankruptcy Code”), a debtor may be discharged of his or her debts. [1] 7] Thereafter, the Court converted Jaurigui’s chapter 11 case to chapter 7. [8] 18] [1] See 11 U.S.C.A. §

Debtor 40

Debtor Bankruptcy Creditors Loans 40

PBWT

DECEMBER 28, 2022

It’s often hard to persuade a bankruptcy court to grant a motion for substantial contribution. Second, did my work result in more than an incidental benefit to the bankruptcy estate? Proving that work was also done for other creditors and a bankruptcy estate is not an easy task. 22-1016, 2022 U.S. 11 of this title.”

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Bankruptcy Creditors Debtor Government 65

PBWT

MARCH 3, 2022

uniform Laws on the subject of Bankruptcies throughout the United States.” ” While Congress has general authority to establish a bankruptcy system, bankruptcy laws must be “uniform.” ” But not every aspect of the bankruptcy system is the same across every judicial district. In Siegel v.

Bankruptcy 65

Bankruptcy Debtor Creditors 65

PBWT

APRIL 17, 2022

21-20049, 2022 U.S. Equitable mootness is judge-made doctrine that arises during appeals of bankruptcy court orders, most often appeals of orders confirming chapter 11 plans. Plan proponents argue that reversal on appeal would wreak havoc on a debtor’s bargained-for reorganization. ’” 2022 U.S.

Debtor 65

Debtor Bankruptcy 65

ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff A motion for a preliminary injunction in a bankruptcy is governed by Federal Rule of Bankruptcy Procedure 7065, which incorporates Federal Rule of Civil Procedure 65. [1] Garrity Kuester St. 2] In Vital Pharmaceuticals, Inc.

Bankruptcy 40

Bankruptcy Debtor Creditors Government 40

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). 3d 1070 (11th Cir.

Debtor 65

Debtor Bankruptcy Manufacturing Retail 65

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Endo Pharmaceuticals (“Endo”) develops, manufactures, markets, and distributes prescription pharmaceutical products. 11] If the automatic stay applied, it would prevent the D.C. 11] If the automatic stay applied, it would prevent the D.C.

Bankruptcy 40

Bankruptcy Manufacturing Debtor Government 40

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Article I, Section 8, Clause 4, of the United States Constitution contains the “Bankruptcy Clause,” which vests Congress with the power to establish “uniform Laws on the subject of Bankruptcies throughout the United States.” [1] 11] In Siegel v.

Bankruptcy 40

Bankruptcy Debtor Creditors 40

PBWT

AUGUST 16, 2022

The Bankruptcy Court for the District of Hawaii ruled that the extension was constructively fraudulent, and thus avoidable under Bankruptcy Code section 548. 21-br-00094, 2022 WL 3221232 (Bankr. But the Owners’ grand plans never came to fruition, and they eventually filed for chapter 11 bankruptcy.

Debtor 65

Debtor Construction Collateral Lender 65

Collection Industry News

OCTOBER 3, 2022

Jane Rue Wittstein, September 30, 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.”

Bankruptcy 40

Bankruptcy Judgment Debtor Government 40

ABI

JANUARY 26, 2023

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Gordos Restaurant Corp. , John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Gordos Restaurant Corp. , 5] Subsequently, the Debtor ceased operation in its original location. [6]

Bankruptcy 40

Bankruptcy Debtor Trade Judgment 40

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff Under section 362 of title 11 of the United States Code (the “Bankruptcy Code”), the filing of a bankruptcy petition results in an automatic stay that generally enjoins any creditor from taking any action against a debtor or its property. [1]

Foreclosure 40

Foreclosure Bankruptcy Debtor Creditors 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

Bankruptcy 40

Bankruptcy Financial Institution Loans Banks 40

ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff The Worker Adjustment and Retraining Notification Act ("WARN Act") provides that “an employer shall not order a plant closing or mass layoff until the end of a 60-day period after the employer serves written notice of such order” to each impacted employee. [1]

Bankruptcy 40

Bankruptcy Debtor Retail Judgment 40

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

Bankruptcy 40

Bankruptcy Debtor Healthcare Government 40

ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff The Bankruptcy Court for the Southern District of New York was presented with two issues related to a subpoena target’s refusal to comply in In re Three Arrows Capital, Ltd. Tayler Eynon St. 2] Three Arrows Capital, Ltd. 2] Three Arrows Capital, Ltd. (“the

Bankruptcy 40

Bankruptcy Debtor Trade Judgment 40

Burr Forman

JANUARY 7, 2022

Birmingham AL – December January 6, 2022 – Burr & Forman LLP announces the election of eight attorneys to partnership, effective January 1. From Burr & Forman’s Jacksonville office: Armando Nozzolillo is a member of the firm’s Creditors’ Rights and Bankruptcy practice group.

Bankruptcy 52

Bankruptcy Creditors Secured Creditor Manufacturing 52

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Section 524(a) of Title 11 of the United States Code (the “Bankruptcy Code”) provides that a debtor may be discharged (i.e., 1] Section 524(e) provides that a discharge of a debtor’s debt does not affect the liability of a non-debtor. [2]

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Creditors Bankruptcy Debtor Collections 40

Troutman Sanders

FEBRUARY 13, 2024

On February 8, a New York bankruptcy judge ruled against cryptocurrency exchange Gemini’s claim that it has a secured claim on more than $800 million in Genesis Global Capital assets. The judge stated that since Genesis never transferred the assets, they cannot be considered as collateral pledged by the debtor. billion in debt.

Financial services 52

Financial services Student loans Student Loans Collection Agencies 52

ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In large bankruptcy cases, 28 U.S.C. § Bankruptcy Court for the Southern District of New York held that a claims agent retained under 28 U.S.C. § 2] During bankruptcy proceedings, Madison Square Boys & Girls Club, Inc. . §

Bankruptcy 40

Bankruptcy Debtor Trade Collections 40