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In Solvency
Trump Decision – Administrative Claims of Employees
By Fox Rothschild LLP, Fox Rothschild LLP
In an 11 page opinion (the "Opinion") released March 9, 2015, in the Trump Entertainment Resorts, Inc. bankruptcy (Case No. 14-12103), Judge Gross interpreted Bankruptcy Code 503(b)(1)(A) in approving the…
Delaware Bankruptcy Update
CPI Preference Actions – Pretrial Conference Scheduled
As detailed in this prior post, on February 6, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee (the “Trustee”) of CPI, Corp., et al. (“CPI” or the “Debtors”), filed…
In Solvency
How does a landlord recover its administrative rent claim?
Section 365(d)(3) of the Bankruptcy Code requires the debtor-tenant to “timely perform all the obligations …. under any unexpired lease of nonresidential real property” until such time that the tenant…
In Solvency
Cal Dive Formation Meeting Scheduled
By Fox Rothschild LLP, Fox Rothschild LLP
In the Cal Dive International, Inc. bankruptcy proceeding, a formation meeting has been scheduled for Tuesday, March 17, 2015 at 10:00 a.m. (ET) at the Doubletree Hotel, 700 N. King…
Restructuring Globalview
Executory Contracts – The Whole is Greater than the Sum of its Parts
Determining whether a contract is executory and, thereby, subject to assumption or rejection under Section 365(a) of the Bankruptcy Code, can be a difficult and fact intensive inquiry. The Eighth…
Restructuring Globalview
A Push for Unanimity in the ABI Commission Report Leaves Important Issues Unaddressed
After more than two years of study on what needs fixing, the ABI Reform Commission proposed hundreds of discrete recommendations on refurbishing the Bankruptcy Code. The 396 page report addresses a…
Asset Protection Law Journal
Keep Bankruptcy Code §548(e) in Mind if You Have a DAPT
By Ken Laino
About 16 states now have laws that allow a Domestic Asset Protection Trust (DAPT). These trusts can be very useful to protect assets in many situations. But keep in mind…
Sixth Circuit Appellate Blog
Choice of Law and Bankruptcy Transfers: Sixth Circuit Tackles Both in Personal Injury Case
In a split decision issued late last week, the Sixth Circuit overturned a Michigan district court’s disposition of a tort suit from North Carolina arising out of allegedly faulty breast…
In Solvency
What are a Landlord’s “Rejection Damages?”
If the debtor-tenant seeks to terminate and surrender the lease, that is “reject it”, the landlord may be entitled to a “rejection damage” claim. A landlord is not entitled to…
Restructuring Globalview
Puerto Rico Municipal Restructurings: Back to The Negotiating Table
On February 6th, Federal District Judge Francisco Besosa ruled that Puerto Rico’s municipal debt-restructuring law, the “Recovery Act”, was unconstitutional stating that: "The Recovery Act is pre-empted by the federal…