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Restructuring Globalview
Chapter 15 Does Not Prohibit Foreign Representatives From Pursuing State And Foreign Law Avoidance Actions
Last month Bankruptcy Judge Isacoff in the Southern District of Florida held that a foreign representative may bring state law and foreign law avoidance actions notwithstanding section 1521(a)(7) of the…
Delaware Bankruptcy Update
Corinthian Colleges Preference Actions Filed in Delaware Bankruptcy Court
Starting on April 28, 2017, Craig R. Jalbert, as Distribution Trustee of the Corinthian Distribution Trust, filed approximately 122 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent…
Bankruptcy & Restructuring Law
Section 1521(a)(7)’s Restrictions Found Inapplicable to State Law Fraudulent Conveyance Actions
On March 23, 2017, the U.S. Bankruptcy Court for the Southern District of Florida (the “Court”) issued an opinion in the chapter 15 case of Banco Cruzeiro do Sul, S.A.,…
In Solvency
Affirmative Insurance – Dueling Motions to Dismiss, Denied
By Fox Rothschild LLP, Fox Rothschild LLP
In a 33 page decision released March 29, 2017, Judge Sontchi of the Delaware Bankruptcy Court ruled on competing motions to dismiss the remaining claims and counterclaims in an adversary proceeding…
Finance & Bankruptcy Law Blog
The Structure of Dismissals – Supreme Court’s Jevic Decision Lays Out Ground Rules for Parties Seeking to Resolve Bankruptcies Through the Increasingly Popular Method of Structured Dismissals
On March 22, 2017, the Supreme Court in Czyzewski v. Jevic Holding Corp., 580 U.S. __ (2017) held that a bankruptcy court does not have the power to approve a…
Employment & Labor
U.S. Supreme Court Rules WARN Claimants/Workers Must Get Priority Over Other Unsecured Creditors In Bankruptcy
By Christopher M. Cascino and Gerald L. Maatman, Jr. Seyfarth Synopsis: A bankruptcy court overseeing an employer’s Chapter 11 bankruptcy proceeding allowed the employer to pay certain unsecured creditors before…
Restructuring Globalview
Jevic Holding: The Supreme Court Puts an End to Non-Consensual Structured Dismissals That Violate Bankruptcy Code Priority Scheme
Yesterday, the Supreme Court issued is highly awaited ruling in Czyzewski et al. v. Jevic Holding Corp. et al. The Jevic case presented the question whether bankruptcy courts may approve…
Tax Controversy 360
IRS Opposes Granting of Certiorari in Cases Addressing Definition of Return
By Roger J. Jones, McDermott Will & Emery
Two petitions for certiorari pending before the Supreme Court of the United States ask the Court to resolve the question of whether a tax return filed after an assessment by…
Restructuring Globalview
But I Didn’t DO Anything! — Can Non-action Violate the Automatic Stay?
It is commonly understood that, upon commencement of a bankruptcy case, section 362 of the Bankruptcy Code operates as an automatic statutory injunction against a wide variety of creditor actions…
Delaware Bankruptcy Update
Cal Dive Offshore Contractors, Inc. Preference Actions Filed
On March 2, 2017, Cal Dive Offshore Contractors, Inc. ("Cal Dive" or "Debtor") filed approximately 136 complaints seeking the avoidance and recovery of allegedly preferential and/or fraudulent transfers under Sections 547,…