ABI

JANUARY 28, 2024

City of Ground Prairie ( In re Purdue Pharma L.P. ), the Second Circuit held that a bankruptcy court has statutory jurisdiction to approve a plan that includes a nonconsensual third-party release of direct claims against non-debtors. [1] 6] The claims against the Purdue Debtors and the Sacklers were estimated to be more than $40 trillion.

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Bankruptcy Debtor Creditors Government 40

In the Red

FEBRUARY 15, 2019

this time for new cases filed on or after April 1, 2019. The total debt amount in the definition of small business debtor in Section 101(51D) will rise to $2,725,625. Other adjustments will affect consumers more than business debtors. Official bankruptcy forms will likely be updated as April 1st draws near.

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Bankruptcy Chapter 13 bankruptcy Debtor Secured debt 140

ABI

JANUARY 12, 2022

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] i] The trustee or debtor in possession must cure any defaults to assume a contract or lease. [ii]

Debtor 40

Debtor Bankruptcy Unsecured Creditor Secured Creditor 40

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] 15] Svenhard’s appealed. [16]

Unsecured Creditor 40

Unsecured Creditor 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.

Unsecured Creditor 65

Unsecured Creditor Debtor Bankruptcy Creditors 65

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. 2002), the Ninth Circuit held that the “interest at the legal rate” due to general unsecured creditors of a solvent chapter 11 debtor is the federal judgment rate. [6]

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Unsecured Creditor Bankruptcy Debtor Creditors 65

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.

Debtor 65

Debtor Bankruptcy Creditors Government 65

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.

Debtor 65

Debtor Bankruptcy Manufacturing Retail 65

ABI

JANUARY 24, 2024

[2] The original proof of claim at issue was filed against Maxus and its affiliates (the “Debtors”). In the process of making Agent Orange, the Debtors discharged dioxin and other chemicals into the Passaic River, causing environmental damages. [3] 12] In May 2017, the Debtors’ liquidating plan was confirmed. [13] 11] Id. [12]

Bankruptcy 40

Bankruptcy Debtor Creditors Government 40

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]

Bankruptcy 65

Bankruptcy Debtor Creditors 65

PBWT

JANUARY 23, 2022

In August 2018, the car dealership filed for chapter 11 bankruptcy protection. 11 U.S.C. § 11 U.S.C. § 11 U.S.C. § 11 U.S.C. § A recent decision applied the ordinary course of business defense to a preferential transfer claim where the parties had engaged in only two transactions. 18-50214, Adv.

Bankruptcy 52

Bankruptcy Debtor Law Firms Creditors 52

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. § §§ 544, 547, 548. Among other things, section 546(e) bars avoidance of a “settlement payment. financial institution.

Bankruptcy 104

Bankruptcy Financial Institution Debtor Judgment 104

Fraser

JULY 21, 2020

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. The SBRA created a new “subchapter V” to Chapter 11 of the Bankruptcy Code , which provides small business debtors an easier path through bankruptcy.

Creditors 56

Creditors Bankruptcy Debtor Construction 56

ABI

JANUARY 10, 2020

Luxurious lifestyles alone do not violate the good faith requirement for proposing a plan of reorganization under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). 1] The debtor was a physician who earned approximately $400,000 per year. [2] 11] The plan was ultimately confirmed by the court. [12].

Unsecured Creditor 40

Unsecured Creditor Debtor Bankruptcy Creditors 40

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. § Agustin Bujanda St.

Bankruptcy 40

Bankruptcy Debtor Government 40

PBWT

APRIL 14, 2021

A discharge of debt in bankruptcy “operates as an injunction against the commencement or continuation of an action, the employment of process, or an act, to collect, recover or offset any such debt as a personal liability of the debtor.” ” 11 U.S.C. § See 11 U.S.C. § § 524(a)(2).

Chapter 7 bankruptcy 52

Chapter 7 bankruptcy Judgment Debtor Bankruptcy 52

ABI

JANUARY 26, 2023

the United States Bankruptcy Court for the Southern District of New York held that a trustee appointed under title 11 of the United States Code (the “Bankruptcy Code”) can recover intellectual property rights after a post-petition transfer. [1] 5] Subsequently, the Debtor ceased operation in its original location. [6]

Bankruptcy 40

Bankruptcy Debtor Trade Judgment 40

ABI

JANUARY 20, 2020

In a debtor/creditor relationship, a debtor may explicitly, or implicitly, waive their rights. 2] The judgments were then recorded as judgment liens on property owned by the Debtor (the “Artesian Property”).” [3] 2] The judgments were then recorded as judgment liens on property owned by the Debtor (the “Artesian Property”).”

Debtor 40

Debtor Foreclosure Bankruptcy Legal Rights 40

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 had prepetition contracts with the creditor defendants.

Debtor 65

Debtor Bankruptcy Unsecured Creditor Creditors 65

ABI

JANUARY 12, 2022

In general, student loan debt is not dischargeable in a case under title 11 of the United States Code (the “Bankruptcy Code”) unless there is a showing of undue hardship. A court will typically consider a debtor’s potential for future employment in determining whether student loan debt may be discharged. [i] at *10–11. [ix]

Student loans 40

Student loans Student Loans Loans Bankruptcy 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

Burr Forman

AUGUST 24, 2020

The total number of Chapter 11 bankruptcy filings over the first half of 2020 was up 26% compared to the first six months of 2019, and most commentators expect to see this rise in bankruptcies continue as COVID-19 further hampers economic activity. In re Edgeworth , 993 F.2d 2d 51,56 (5th Cir. See In re Calsol, Inc., 2011); Baez v.

Bankruptcy 52

Bankruptcy Debtor Creditors Judgment 52

ABI

JANUARY 20, 2020

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”). 3] On January 24, 2019, PG&E announced their intent to file a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. [4] By: Gabriela Zapata.

Bankruptcy 40

Bankruptcy Debtor Government 40

ABI

JANUARY 22, 2020

Under Chapter 15 of title 11 of the United States Code (the “Bankruptcy Code”), a court may grant recognition to a debtor’s foreign proceeding as a foreign main or nonmain proceeding depending on the location of a debtor’s center of main interest (“COMI”) or establishment. [1] By: Loredana Miranda. 1] See 15 U.S.C.

Debtor 40

Debtor Bankruptcy Creditors 40

PBWT

MAY 14, 2020

9] Similarly in Deirdre Ventura , Bankruptcy Judge Robert Grossman found no statutory impediment to the debtor’s redesignating her case as a Subchapter V case. [10] 11] [1] [link] [2] In re Progressive Solutions, Inc. , 11] [1] [link] [2] In re Progressive Solutions, Inc. , 8:18-bk-14277-SC (Bankr. 8:18-bk-14277-SC (Bankr.

Debtor 52

Debtor Bankruptcy 52

ABI

JANUARY 19, 2024

Bankruptcy Code, there are various provisions that allow debtors and trustees to avoid certain types of prepetition transfers. [1] 9] In 2019, BWGS’s creditors filed an involuntary petition under Chapter 7 of the Bankruptcy Code. [10] 11] In 2021, Petr sued BMO and Sun Capital seeking to avoid the $24.8 2] 11 U.S.C. §

Bankruptcy 40

Bankruptcy Financial Institution Loans Banks 40

ABI

JANUARY 13, 2022

1] John McDonnell McPherson (“Debtor”) entered into a Litigation Funding Agreement (“Funding Agreement”) with Camac Fund, L.P. Camac”), [2] pursuant to which Camac “extend[ed] financing to the Debtor in exchange for a percentage of the Debtor’s [recoveries from certain litigation].” [3] 14]. Id. McMahon, 482 U.S.

Bankruptcy 40

Bankruptcy Debtor Creditors 40

ABI

JANUARY 13, 2022

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] 1] Subchapter V provides “an expedited process for small business debtors to reorganize quickly, inexpensively, and efficiently.” [2] 21]. . . [1]

Bankruptcy 40

Bankruptcy Debtor Law Firms Loans 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.

Bankruptcy 100

Bankruptcy Debtor Manufacturing Law Firms 100

Troutman Sanders

OCTOBER 16, 2023

On October 11, the Federal Trade Commission (FTC) announced a new proposed rule to prohibit junk fees, which are hidden and bogus fees that can harm consumers and undercut honest businesses. On October 11, the Securities and Exchange Commission (SEC) informed the U.S. On October 11, B25-0449 was signed by Mayor Muriel Bowser (D).

Financial services 52

Financial services Student loans Student Loans Credit Unions 52

Burr Forman

SEPTEMBER 3, 2021

Specifically, Plaintiff alleged Defendant violated § 1692g(a) for failure to provide notice of her statutory rights within five (5) days of the initial contact, and § § 1692d(6) and 1692e(11) for failure to identify itself as a debt collector or that it was attempting to collect a debt during the calls. 17 C 8167, 2019 WL 8405215 at *2 (N.D.

Fair Debt Collection 52

Fair Debt Collection Judgment Collections Debt collector 52

ABI

JANUARY 13, 2022

KG , the United States District Court for the Southern District of New York (“SDNY”) held that a breach of contract claim against a foreign debtor could be dismissed under principles of international comity, even if the debtor did not obtain recognition under Chapter 15 of Title 11 of the United States Code (the “Bankruptcy Code”). [1]

Bankruptcy 40

Bankruptcy Debtor Creditors Banks 40

In the Red

FEBRUARY 13, 2019

What is the effect of rejection of a trademark license by a debtor-licensor? In late October, the Supreme Court granted review and has set oral argument for February 20, 2019. The court held that under Section 365(g) of the Bankruptcy Code, rejection operates as a breach by the debtor but not as a termination of the contract.

Bankruptcy 100

Bankruptcy Debtor Manufacturing Trade 100

Credit Corp

NOVEMBER 9, 2020

In 2019, the FTC received 75,200 complaints about debt collectors —down from 84,500 in 2018. FTC 2019 Annual Report: Types of Debt Collection Complaints Reported by Consumers. Percentage of complaints: 45% in 2019. Percentage of complaints: 18% in 2019. Percentage of complaints: 12% in 2019. Communication Tactics.

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Collection Agencies Collections Agency Credit Bureau Collections 105

ABI

JANUARY 16, 2020

Under section 363 of title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor-in-possession may sell the debtor’s assets. iii] During its Chapter 11 case, Waypoint Leasing Holdings LTD. 11 CV 0795 SJF, 2011 WL 2470609, at *4 (E.D.N.Y. 18-13648, 2019 WL 4273889, at *21 (Bankr.

Bankruptcy 40

Bankruptcy Secured Creditor Debtor Creditors 40

ABI

JANUARY 16, 2020

Under section 1123(a)(4) of title 11 of the United States Code (the “Bankruptcy Code”), a reorganization plan should provide equal treatment for each claim of a particular class, unless the claim holder specifically agrees to less favorable treatment. [1] 3] The Debtors proposed a Chapter 11 plan pursuant to which they would raise $1.5

Creditors 40

Creditors Debtor Bankruptcy Banks 40

Consumer Financial Services Law

JULY 21, 2021

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). Newrez, LLC v. Beckhart , No. 7:20-cv-00192-BO, 2021 U.S. July 6, 2021).

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Bankruptcy Debtor Creditors Loans 40