The Supreme Court recently heard arguments in a patent dispute case, Oil States Energy Services, LLC v. Greene’s Energy Group, LLC. Although the case has nothing to do with bankruptcy law, its outcome could have a substantial impact on
Bankruptcy Law Insights
Commentary & Analysis on Current Events & Issues in Large & Mid-Market Chapter 11 Cases
Bankruptcy Law Insights, published by Kelley Drye & Warren LLP, focuses on legal issues arising in bankruptcy and insolvency cases. The blog covers topics such as intercompany loan disputes, creditor rights and priorities, debtor-in-possession financing, lease assumption and cure requirements under the Bankruptcy Code, intercreditor conflicts, and avoidance actions related to pre-bankruptcy transfers. It analyzes court decisions from various jurisdictions, including the Second, Ninth, and Delaware bankruptcy courts, providing insight into how bankruptcy law principles are applied in complex commercial reorganizations and creditor-debtor disputes. The blog addresses procedural and substantive aspects of chapter 11 cases, including creditor committee challenges, adequate assurance for landlords, and the treatment of secured and unsecured claims.
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Judge Silverstein’s Opinion in Millennium Lab Holdings Threatens to Bring Clarity and Common Sense to Debate Regarding Constitutional Power of Bankruptcy Courts
By Ben Feder
In December 2015, U.S. Bankruptcy Court Judge Laurie Silverstein of the District of Delaware confirmed a plan of reorganization in the Millennium Lab Holdings chapter 11 case that included the non-consensual release of certain claims against various non-debtor third parties. …
Fees for Defending Fees – Recent Rulings Permit Contractual Circumvention of Supreme Court’s Baker Botts v. Asarco Decision
By Ben Feder
The Supreme Court two years ago ruled in Baker Botts v. Asarco that bankruptcy professionals entitled to compensation from a debtor’s bankruptcy estate had no statutory right to be compensated for time spent defending against objections to their fee applications. …
Could Supreme Court Case on Debt Recharacterization Provide a Pathway Out of the Stern v. Marshall Maze?
By Ben Feder
The Supreme Court recently granted certiorari in PEM Entities LLC v. Levin, in which it will decide whether federal or a state law should apply when a debt claim held by a debtor’s insider is sought to be recharacterized…
Millennium Lab Holdings – Ruling on Third Party Releases Highlights Continuing Constitutional Questions Regarding Power of Bankruptcy Courts
By Ben Feder
In Millennium Lab Holdings, Delaware District Court Judge Leonard Stark, on an appeal from a bankruptcy court order confirming a plan of reorganization, recently upheld a challenge to the bankruptcy court’s constitutional authority to release claims against non-debtor third parties…
Nortel Judge Rejects Noteholders’ Challenge to Indenture Trustee’s Fees
By Ben Feder
Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware handed down an important ruling last week that turned aside most of an unusual challenge to the fees and expenses of an indenture trustee in the long-running…
Delaware Bankruptcy Judge: A Carve-Out for Fees Is Not a Cap
By Ben Feder
Judge Christopher Sontchi recently issued an important opinion in the Molycorp chapter 11 case. He held that a standard carve-out in a financing order for the fees of counsel and other professionals for an official creditors’ committee will not…
Punt, Pass or Kick? Supreme Court Struggles With Jevic at Oral Argument
By Ben Feder
The U.S. Supreme Court heard oral arguments this week in the case of Czyzewski v. Jevic Holding Corp. Although veteran Court watchers caution about seeking to predict ultimate rulings based on justices’ questions and stated concerns, it is…
Jevic Could Be the Most Consequential Chapter 11 Decision in Many Years
By Ben Feder
The U.S. Supreme Court will hear the case of Czyzewski v. Jevic Holding Corp. during the new term that began last week. The questions it presents are relatively simple. First, can a bankruptcy court, in dismissing a case under the…
Secured Creditors Can Chill a Bit Following Aeropostale Ruling
By Ben Feder
The ability of a secured creditor to credit bid its debt in connection with a sale of a debtor’s assets received a strong boost in a decision last month in the Chapter 11 case of Aeropostale from U.S. Bankruptcy Judge…