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Delaware Bankruptcy Update
Preference Actions filed in Deb Shops Bankruptcy
On July 29, 2015, Deb Shops SDFMC LLC, in its capacity as debtor in possession, filed 92 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547…
In Solvency
Trump Entertainment – Automatic Stay v. Norris-LaGuardia Act
By Fox Rothschild LLP, Fox Rothschild LLP
In a 23 page opinion released July 21, 2015 in the Trump Entertainment Resorts case (Bank. D. Del. 14-12103), Judge Kevin Gross of the Delaware Bankruptcy Court opined upon the…
Restructuring Globalview
Bankruptcy Mischief: Fraudulent Concealment and Bad Faith Will Not Justify Disallowing Bankruptcy Code Exemptions
Did I say I didn’t have any assets, I meant they were exempt!” Can a debtor lose the right to exempt property in a bankruptcy case if it is discovered…
Sixth Circuit Appellate Blog
Bankruptcy Mischief: Fraudulent Concealment and Bad Faith Do Not Matter When It Comes To Disallowing Bankruptcy Code Exemptions
Desperate times call for desperate measures. It is not surprising then that a less than scrupulous debtor might be less than candid when disclosing assets and liabilities to a bankruptcy…
Restructuring Globalview
The Baker Botts Decision – – Are We All Overreacting?
Last month, the Supreme Court announced its decision in Baker Botts LLP v. Asarco LLC. As most readers will be aware, that case involved a dispute over whether debtor’s retained counsel…
Restructuring Globalview
The recharacterization doctrine is ripe for Supreme Court review
When a bankruptcy court ‘‘recharacterizes’’ debt, it causes something the parties have identified as debt to be converted into equity. Unlike an equitable subordination analysis, in which courts determine whether…
Plan Proponent
ABI Commission Report – Class Acceptance & Cramdown
This is the next (long overdue) post in Plan Proponent’s series on the confirmation-related recommendations in the ABI Commission Report (and, in particular, its Exiting the Case piece). In this post, we’ll switch to Section F…
New Jersey Law Blog
SCOTUS: Second Mortgages NOT Voidable In Chapter 7 Proceedings (Caulkett Decision)
On Monday, June 1, 2015, the Supreme Court of the United States published its opinion in the matter of Bank of America v. Caulkett. The issue determined was whether or…
Delaware Bankruptcy Update
Nortel Opinion Interprets Supreme Court’s Wellness Opinion
Summary In a 12 page decision released June 2, 2015, Judge Gross of the Delaware Bankruptcy Court gives us our first Delaware specific insight into how the U.S. Supreme Court's…
Restructuring Globalview
Commercial Mortgage-Backed Securitization Investors Given “Safe Harbor” Protection
How far do the Bankruptcy Code’s “safe harbor” provisions extend in the commercial mortgage-backed securitization (CMBS) market? Do these safe harbor provisions protect financial institutions that act merely as conduits…