Bankruptcy

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Upcoming Committee Formation Meeting: Thursday, August 23 2018 10:00 AM Case Name: 18-11814 (BLS) Location: Office of the US Trustee, 844 King Street, Room 3209, Wilmington ,DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief. Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.…
The case of Davey v Money and Anor (2018) EWHC 766 (Ch) should serve as a gentle warning to secured creditors to be aware of the level of their involvement in the administration of a customer. Background Angel House Development Limited (“AHDL“), a property development company, borrowed £16 million from Dunbar Assets Plc (“Dunbar“) in order to fund the purchase and redevelopment of a property, Angel House, in Tower Hamlets. Dunbar took security for the…
It’s certainly been interesting to watch the last several years of opinions from the Delaware Supreme Court. A July 2018 opinion adds to the list of interesting opinions because it limits the circumstances under which business judgment deference will be allowed. The opinion is Elizabeth Morrison v. Ray Berry et. al., which was first issued on July 9, 2018, and then revised on July 27. The opinion is drawing ample commentary from corporate lawyers and litigators.…
Here’s an aggregation of 28 of my Twitter posts from the beginning of July 2018, with links to cases, articles, and news briefs that restructuring professionals should find of interest. Thanks for reading! LIFE, BUSINESS, AND THE WORLD GENERALLY: Barbarism with an Eco-Friendly Face:  More outstanding reporting by Rukimi Callimachi:  “The announcement — by a group better known for suicide attacks that have killed and maimed thousands — prompted a flurry of mocking memes on the internet, some…
Time and again,  litigators experience hassles with a witness obtaining notarization of a signature. That sometimes leads to submission of affidavits that are technically not proper, and related angst. But is such an affidavit a declaration under penalty of perjury, if the “penalty of perjury” language is used?  Yes, said an Illinois federal court  See Snyder v. Wal-Mart Stores, No. 18 C 583 (April 2, 2018). Hat tip to Steven Garmisa for flagging the case in…
By Jaye A. Calhoun, Jason R. Brown and William J. Kolarik, II On Friday, August 10, 2018, the Louisiana Department of Revenue (the “Department”) released Remote Sellers Information Bulletin No. 18-001 (the “RSIB”).  The RSIB states that the Louisiana Sales and Use Tax Commission for Remote Sellers (the “Commission”) “will not seek to enforce any sales or use tax collection obligation on remote sellers based on United States Supreme Court’s decision in South Dakota …
Upcoming Committee Formation Meeting:  Friday, August 17 10:00 AM Case Name: 18-11975 (MFW) Location:The Doubletree Hotel, 700 King Street, Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief. Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.…
Upcoming Committee Formation Meeting:  Thursday, August 16 10:00 AM Case Name: 18-11818 (KJC) Location: The Du Pont Hotel, 42 W. 11th Street, Wilmington, DE 19801 Notice of Formation Meeting for Official Committee of Unsecured Creditors can be found here. See the petition for relief. Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter.…
September and October 2018 trials are approaching for federal court litigation regarding State Farm’s 2004 contributions used for messaging said to be related to the campaign for office of Justice Karmeier of the Illinois Supreme Court. In a recent ruling, the district judge (Herndon) struck two of plaintiff’s expert opinions related to the contributions. The ruling is summarized in a July 24, 2018 article at the Madison County Record.…
In a June 20, 2018 opinion, Judge Carey of the United States Bankruptcy Court for the District of Delaware sustained an objection to a proof of claim that had been traded during the bankruptcy case and filed by the claim purchaser. The opinion highlights the importance of being vigilant in conducting diligence before acquiring a claim against a bankruptcy debtor, especially regarding the ability of the original creditor to assign the claim without the debtor’s consent.…