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Delaware Bankruptcy Update
U.S. Supreme Court Rules ‘Actual Fraud’ Exception to Discharge Includes Fraudulent Transfer Schemes
[caption id="attachment_2544" align="alignright" width="300"] Copyright: bbourdages / 123RF Stock Photo[/caption] In an Alert published on Wednesday, Audrey Noll examines the U.S. Supreme Court's recent ruling in Husky Int’l Elecs., Inc. v. Ritz: Last…
Franchise Law Update
Do You Know What Actual Fraud Is?
In Husky Int’l Electronics, Inc. v. Ritz, No. 15-145 (U.S. May 16, 2016), a 7-1 majority of the Supreme Court held that a fraudulent conveyance scheme comported with the requirements…
Restructuring Globalview
Supreme Court Deals a Blow to Debtors by Adopting an Expansive View of “Actual Fraud”
Last week, the U.S. Supreme Court in Husky International Electronics, Inc. v. Ritz held a chapter 7 debtor accountable for “actual fraud” despite the absence of a specific fraudulent misrepresentation. The…
The Right Coast
Priority Matters by Douglas G. Baird :: SSRN
Chapter 11 of the Bankruptcy Code is organized around the abso-lute priority rule. This rule mandates the rank-ordering of claims. If one creditor has priority over another, this creditor must…
NextGen Financial Services Report
Fraudulent Transfer Judgments May Survive a Debtor’s Bankruptcy Filing: Supreme Court Clarifies Meaning of “Actual Fraud”
By Dykema
A Supreme Court ruling this week should give creditors a powerful tool to collect their debts from debtors who try to transfer assets before seeking bankruptcy protection. The primary reason…
Delaware Bankruptcy Update
Another Wave of Standard Register Company Preference Actions Filed
From May 11 to May 13, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), unleashed yet another wave of preference actions, filing approximately 257 additional complaints seeking the avoidance and recovery of…
In Solvency
Another Wave of Standard Register Company Preference Actions Filed
From May 11 to May 13, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), unleashed yet another wave of preference actions, filing approximately 257 additional complaints seeking the avoidance and recovery of…
Bankruptcy Report
Fraud is Broad: SCOTUS Declines to Accept Narrow Interpretation of “Actual Fraud” in 11 U.S.C. § 532(a)(2)(A)
Last November, the HHR Bankruptcy Report reported on the Supreme Court’s grant of the petition for certiorari in Husky International Electronics, Inc. v. Ritz, a case in which the Fifth…
Restructuring Globalview
Now You See It, Now You Don’t – The Search for “Unreasonably Small Capital”
In a decision last month in Whyte v. SemGroup Litig. Trust (In re Semcrude L.P.), No. 14-4356, 2016 U.S. App. LEXIS 7690 (3d Cir. Apr. 28, 2016), the United States…
In Solvency
Standard Register Company Preference Actions Filed
On May 5, 2016, SRC Liquidation, LLC International Holdings, LLC ("Liquidating Debtor”), filed approximately 137 complaints seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547 and…