2019 11 
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. §
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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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.
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.
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]
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
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.
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