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Delaware Bankruptcy Update
Preference Actions filed in CPI, Corp.
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 approximately 44 preference complaints seeking to…
Restructuring Globalview
Managing the Chapter 15 Cross-Border Insolvency Case – A Book Review of The Pocket Guide for Judges by the Honourable Louise De Carl Adler
Chapter 15 of the Bankruptcy Code provides a mechanism for a foreign debtor or representative in non-U.S. insolvency proceedings to protect such debtor's U.S. assets from U.S. creditors’ collection actions…
Delaware Bankruptcy Update
What is the Status of a Tenant’s Rental Obligations While Landlord is in Bankruptcy?
Section 365(d) of the Bankruptcy Code requires the debtor-tenant to satisfy all the terms under the lease during the post petition period until the tenant either rejects the lease, or…
Delaware Bankruptcy Update
How does the “automatic stay” of the bankruptcy code apply to landlords?
The automatic stay is one of the most powerful protections provided to debtors in a bankruptcy proceeding. The stay acts as an injunction that prohibits creditors (including landlords) from commencing…
In Solvency
How does the “automatic stay” of the bankruptcy code apply to landlords?
The automatic stay is one of the most powerful protections provided to debtors in a bankruptcy proceeding. The stay acts as an injunction that prohibits creditors (including landlords) from commencing…
In Solvency
Powerwave Preference Actions Filed
From January 23-27, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee (the “Trustee”) of Powerwave Technologies, Inc. (“Powerwave” or the “Debtor”), filed approximately 102 preference complaints seeking to avoid…
Restructuring Globalview
Show Me the Money – Courts in the Second Circuit Continue to Apply Section 109 to Chapter 15 Cases and Cash in the Bank Does the Job
In December 2013, the Court of Appeals for the Second Circuit held that section 109 of the Bankruptcy Code was applicable to Chapter 15 cases. In Drawbridge Special Opportunities Fund…
Restructuring Globalview
Same Song – – Third Verse: US Supreme Court Hears Arguments in Wellness v. Sharif
"Bad news comes in threes." "Third time's the charm." "Three strikes and you're out." One of these three adages may come to characterize the outcome of a case of significant…
Texas Bankruptcy Blog
When Can I Avoid Pre-Bankruptcy Credit Counseling?
By Bryan Fears
The bankruptcy general rule is that individuals must receive credit counseling from an approved agency within 180 days prior to filing bankruptcy. However, there are exceptions to this general rule.…
Delaware Bankruptcy Update
Tri-Valley Corp. Bankruptcy – Preference Complaint Dismissed – Leave to Amend Granted
Summary In a straight-forward 11 page decision signed January 7, 2015, Judge Walrath of the Delaware Bankruptcy Court granted a defendant’s motion to dismiss a preference complaint, but granted the plaintiff…