Bruce J. Borrus writes:
Bernie Madoff in New York, Tom Petters in Minneapolis, Allen Stanford in Houston, and Darren Berg in Seattle lead a rogues’ gallery of infamous Ponzi schemers. All are now serving time in prison. But the civil
Bankruptcy Litigation Briefing
Bankruptcy Litigation Briefing, published by Fox Rothschild LLP, focuses on developments and litigation in bankruptcy and financial restructuring. The blog covers topics such as bankruptcy court rulings, creditor and debtor rights, motions for relief from automatic stay, fraudulent transfer claims, and the impact of bankruptcy on intellectual property licenses. It provides analysis of significant bankruptcy cases, strategies for business restructuring, and insights into trustee roles and creditor committees. The content addresses practical legal issues faced by creditors, debtors, and businesses navigating financial distress and bankruptcy litigation nationwide.
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Fifth Circuit: Debtor Judicially Estopped for Failure to Disclose Asset
In a recent opinion, the Fifth Circuit affirmed a district court ruling that found that a debtor was judicially estopped from claiming a stay violation by a mortgagee, who foreclosed on the debtor’s property, due to the debtor’s failure to…
How Bankruptcy Effects Rights Under Trademark Licenses
When a trademark licensor files for bankruptcy, can the licensees of their trademarks continue using those marks, or does the licensor have the right to prohibit their continued use? On Fox’s Above the Fold blog covering advertising law, partner Elizabeth…
Ninth Circuit Clarifies Point Center Decision — To Preserve Right to Appeal, there Must be Evidence in the Bankruptcy Record That Appellant was Appearing, Objecting or Represented
An opinion issued yesterday by the U.S. Court of Appeals for the Ninth Circuit reiterates the importance of filing written objections and appearing in the Bankruptcy Court to preserve rights to appeal. The opinion clarifies the Ninth Circuit’s recent opinion…
For Fraudulent Transfer Statute of Limitations, Transfer of Real Property Occurred upon Recording of Deed, not Execution
A recently issued opinion by the U. S Bankruptcy Court for the District of New Mexico provides some guidance on the relevant date for the transfer of real property for purposes of the statute of limitations applicable to fraudulent transfer…
Delaware Bankruptcy Court Reinforces Use of Pacor Test to Assess Subject-Matter Jurisdiction over Chapter 7 Trustee’s Claims
In Beskrone v. Int’l Educ. Corp., Adv. No. 17-50523 (CSS) (Bankr. D. Del. July 2, 2018), the Bankruptcy Court for the District of Delaware held that a chapter 7 trustee’s adversary proceeding to recover alleged prepetition accounts receivable fell…
Hawaii Bankruptcy Appeal Serves as a Reminder on Preferential Transfers
In an appeal from the U.S. Bankruptcy Court for the District of Hawaii, the U.S. District Court for the District of Hawaii determined when the date of the transfer occurred for the purposes of a preferential transfer asserted by a…
Bankruptcy Court Dismisses Breach of Duty of Fair Representation and Collusion Claims
Kerri Gallagher writes:
The Bankruptcy Court for the Southern District of New York recently dismissed claims in an adversary proceeding commenced by pilots against the pilots’ union and an airline in connection with the airlines’ rejection of an old collective bargaining agreement (“Old…
Mockery of Judicial System Determinations: Eleventh Circuit Confirms “Facts and Circumstances” Test
Kerri Gallagher writes:
The Eleventh Circuit recently held that when determining whether a plaintiff’s inconsistent statements are intended to make a mockery of the judicial system, a court must evaluate all facts and circumstances of the case rather than simply…
U.S. Supreme Court finds Debt obtained by False Promises to Pay, Dischargeable
Samuel Goodstein writes:
The U.S. Supreme Court resolved a dispute about whether debts obtained by false promises to pay (or fraud) can be discharged in bankruptcy.
On June 4, 2018, the U.S. Supreme Court issued an opinion affirming the U.S.…