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Delaware Bankruptcy Update
Sanjel (USA) Inc. – Chapter 15 Creditors May Challenge Reach of Stay in Recognition Order
A recent decision by the United States Bankruptcy Court for the Western District of Texas in In re Sanjel (USA) Inc., et al., Case No. 16-50778-CAG (Bankr. W.D. Tex. July 29,…
In Solvency
Abeinsa Holding Opinion – Motion for Relief from Stay Granted
By Fox Rothschild LLP, Fox Rothschild LLP
Summary In a 9 page decision dated October 6, 2016, Judge Carey of the Delaware Bankruptcy Court granted the motion of Portland General Electric ("PGE") for relief from the automatic stay of…
Restructuring Globalview
Puerto Rico Continues the Struggle to Restructure its Debts
When we last discussed the Commonwealth of Puerto Rico’s efforts to restructure some $72 billion in municipal debt, a Federal District Court Judge had found the Commonwealth’s 2014 municipal debt-restructuring law,…
Financial Services Perspectives
The Eleventh Circuit has spoken: “Debtors who surrender property must get out of the creditor’s way”
In recent years, there has been a hotbed of litigation across the nation, particularly in Florida state and bankruptcy courts, regarding a debtor’s ability to contest a secured creditor’s foreclosure…
In Solvency
Opinion in NewPage (Pirinate Consulting) is a Reminder of 547 Defenses
By Fox Rothschild LLP, Fox Rothschild LLP
Over three years ago, in September 2013, Pirinate Consulting Group LLC, in its capacity as Litigation Trustee (the "Trustee") of the NewPage Creditor Litigation Trust, began filing complaints in the…
Delaware Bankruptcy Update
Bankruptcy Code Section 303(i) Does Not Preempt State Law Claims by Non-Debtors
In Rosenberg v. DVI Receivables XVII, LLC, 2016 WL 4501675 (3d Cir. August 29, 2016), the United States Court of Appeals for the Third Circuit held that Section 303(i) of the…
In Solvency
ADI Liquidation, Inc. Avoidance Actions Filed
On September 7-8, 2016, various debtors in the ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), et al. bankruptcy proceeding filed approximately 332 complaints seeking the avoidance and recovery of allegedly…
Delaware Bankruptcy Update
ADI Liquidation, Inc. Avoidance Actions Filed
On September 7-8, 2016, various debtors in the ADI Liquidation, Inc. (f/k/a AWI Delaware, Inc.), et al. bankruptcy proceeding filed approximately 332 complaints seeking the avoidance and recovery of allegedly…
Georgia Bankruptcy Blog
Balloon Payments Are Allowed In Chapter 13 Plans, Says Judge Carter In Middle District Of Georgia
By Scott Riddle
In In re Cochran, Ch. 13 Case No. 15-52314-aec, 2016 WL 4575557 (Bankr. M.D. Georgia, September 1, 2016), the primary issue was "whether a plan that calls for distributions in…
Delaware Bankruptcy Update
Easement Held to be an In Rem Property Interest Subject to Section 363 Sale
In the decision of In re Metroplex on the Atlantic, LLC, 545 B.R. 786 (Bankr. E.D.N.Y. 2016), the United States Bankruptcy Court for the Eastern District of New York held that…