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Delaware Bankruptcy Update
Seeking Relief from the Automatic Stay – Personal Injury Claimants
Very often in the course of a bankruptcy proceeding, a creditor with a pending lawsuit against the debtor will need to obtain relief from the automatic stay in order to…
PropertyProf Blog
Boyack & Berger on Zombie Mortgages
Andrea Boyack (Washburn) & Robert Berger (U.S. Bankruptcy Court) have posted Bankruptcy Weapons to Terminate a Zombie Mortgage (Washburn Law Journal) on SSRN. Here's the abstract:Bankruptcy’s strongest public policy is…
Bankruptcy Report
In Recent Ruling, SCOTUS Preserves Junior-Lien Lenders’ Secured Claims
On June 1, 2015, the U.S. Supreme Court issued its decision in Bank of America v. Caulkett.[1] The Court’s unanimous opinion, which was written by Justice Thomas, established that junior…
Restructuring Globalview
Baker & Botts – Is the Second Shoe About to Drop?
When the Supreme Court issued its decision in Baker & Botts L.L.P. v. ASARCO LLC in June, it caused something of a flutter in the bankruptcy community. The decision held…
Cannabis Law Now
10th Circuit Rules Bankruptcy Code Does Not Protect Marijuana Businesses
By Steve Levine
The 10th Circuit court ruled on August 21, 2015, that neither Chapter 7 nor 13 is available to a marijuana business owner. The court stated that because of "the federally illegal marijuana based…
Restructuring Globalview
Here Today, Gone Tomorrow: Confirmation of a Chapter 11 Plan Could Strip Your Liens if You’re Not Careful
On August 4, 2015, the Second Circuit weighed in for the first time on the circumstances in which the confirmation of a Chapter 11 plan could strip a secured creditor…
Delaware Bankruptcy Update
Boomerang Systems, Inc. Formation Meeting Scheduled
In the Boomerang Systems, Inc. bankruptcy proceeding (Delaware Bankruptcy Case No. 15-11729), a formation meeting has been scheduled for Thursday, August 27, 2015 at 10:00 a.m. (ET) at the J. Caleb Boggs Federal…
Delaware Bankruptcy Update
Priority Status Given to Claims of Landlords Against Involuntary Debtors
On August 11, 2015, the Bankruptcy Court for the Northern District of California ruled on an issue “of apparent first impression” that claims for unpaid rent brought by landlords for office…
Delaware Bankruptcy Update
Ordinary Course of Business Defense Further Examined – Burtch v. Revchem Composites, Inc.
In the recent opinion of Burtch v. Revchem Composites, Inc. (In re Sierra Concrete Design, Inc.), Adv. No. 10-52667 (CSS), 2015 WL 4381571 (Bankr. D. Del. July 16, 2015), the…
In Solvency
Ordinary Course of Business Defense Further Examined – Burtch v. Revchem Composites, Inc.
In the recent opinion of Burtch v. Revchem Composites, Inc. (In re Sierra Concrete Design, Inc.), Adv. No. 10-52667 (CSS), 2015 WL 4381571 (Bankr. D. Del. July 16, 2015), the…