The Consolidated Appropriations Act, 2021 (“CAA”) was signed into law on December 27, 2020. As mentioned in this prior post, the CAA contains many amendments to the Bankruptcy Code which impacts creditors and other interested parties to a bankruptcy
Delaware Bankruptcy Blog
Review of Bankruptcy Proceedings and Legal Developments in Delaware and Throughout the Country
The Delaware Bankruptcy Blog, published by Carl D. Neff, focuses on legal developments and practical issues arising in bankruptcy cases within Delaware courts. It covers topics such as stay relief negotiations, insurance coverage considerations in bankruptcy, late-filed claims and excusable neglect standards, preference actions and defenses, debtor asset sales and bidding procedures, and significant bankruptcy litigation outcomes. The blog addresses procedural and substantive bankruptcy law matters, including analysis of court decisions, strategic considerations for creditors and debtors, and the impact of bankruptcy on related litigation and claims resolution processes.
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Amendments to the Bankruptcy Preference Statute in the Consolidated Appropriations Act, 2021
By Carl D. Neff
On December 27, 2020, the much-anticipated Consolidated Appropriations Act, 2021 (“CAA”) was signed into law. The CAA contains several COVID-19-related amendments to the United States Bankruptcy Code, 11 U.S.C. §§ 101, et seq. (“Bankruptcy Code”), which may impact many types…
In-Shape Holdings, LLC Files for Bankruptcy Protection in Delaware
By Carl D. Neff
On December 16, 2020, In-Shape Holdings, LLC and two affiliated debtors (together, the “Debtors” or “In-Shape”) filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code. In-Shape Holdings, LLC is a health club operator in Stockton,…
Preference Actions Filed in NSC Wholesale Holdings in the Delaware Bankruptcy Court
By Carl D. Neff
Starting on October 14, 2020, NSC Wholesale Liquidating Trust (“NSC Trust”), the liquidation trust appointed by the by the United States Bankruptcy Court for the District of Delaware to prosecute claims on behalf of the NSC estate, filed approximately 62…
Sears and Kmart Preference Actions Filed En Masse in the Southern District of New York
By Carl D. Neff
Starting on October 8, 2020, Kmart Holding Corporation, Sears, Roebuck & Co. and other affiliated debtors of Sears Holdings Corporation (“Debtors”) collectively filed over 400 complaints in the United States Bankruptcy Court for the Southern District of New York, seeking…
A Primer on Defenses to Bankruptcy Preference Claims
By Carl D. Neff
Your business provided goods or services to another company. Shortly thereafter, that company then files for bankruptcy, and owes your business substantial sums of money. After the filing of the bankruptcy action, you then receive a letter from counsel demanding…
Local Rules of the Delaware Bankruptcy Court – Comment Period
By Carl D. Neff
The Delaware Bankruptcy Court issued a notice stating that the comment period for its Local Rules is currently open. Per the notice, the comment period is open from October 1 through October 30, 2020.
A current version of the Local…
Top Five Tips for Commercial Landlords Dealing with a Tenant in Bankruptcy
By Carl D. Neff
There has been no shortage of significant bankruptcy filings in 2020 as a result of the ongoing pandemic. Large companies such as J.C. Penney, Brooks Brothers, Lucky Brand, GNC, subsidiaries of Regus, and others, have all filed for bankruptcy protection,…
Delaware Bankruptcy Court Issues Order Setting Bar Dates in Subchapter V Cases
By Carl D. Neff
The United States Bankruptcy Court for the District of Delaware issued an Order establishing Bar Dates for filing proofs of claim in Subchapter V Cases. The Bar Dates are set at the filing of the case for creditors and governmental…
Delaware District Court and Bankruptcy Court Move to Phase 2
By Carl D. Neff
On September 1, 2020, the United States District Court for the District of Delaware issued a Standing Order Re: Criminal and Civil Jury Selections; Jury Trial; and Transition to Phase 2. Per the Standing Order, the Delaware District Court…