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Restructuring Globalview
So Which “Applicable Law” Is Applicable Under Section 365?
Under section 365(f)(1), a debtor is permitted to assume and assign leases and executory contracts notwithstanding contractual limitations or "applicable law" that restricts such assignment. However, that broad general authorization…
Delaware Bankruptcy Update
Conex Bankruptcy – Summary Judgment in a Preference Action
In an 18 page opinion released December 18, 2014 in the Conex Holdings bankruptcy (Bank. D. Del. 11-10501), Judge Sontchi of the Delaware Bankruptcy Court analyzed the "ordinary course of…
Restructuring Globalview
It Ain’t Over Till It’s Over – – Final Judgments in Bankruptcy
In ordinary civil litigation, appellate review is generally limited to "final judgments," in order to prevent the wastefulness of appeals on rulings that are not truly dispositive of the case.…
Corporate Defense and Disputes
Second Circuit Affirms Dismissal of Madoff Trustee’s Six-Year Transfer and Preference Claims
By Gregg Mashberg, Richard Spinogatti, Sarah Gold
With several billions of dollars ultimately at stake, the Second Circuit has affirmed that Section 546(e) of the Bankruptcy Code, a safe-harbor protecting certain securities-related payments from bankruptcy “claw backs,”…
Delaware Bankruptcy Update
DEB Stores Holding LLC files for Bankruptcy under Chapter 11
DEB Stores Holding LLC and certain of its affiliated companies (“DEB” or the “Debtors”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on December 4, 2014 in the United…
Bankruptcy Report
TMT Procurement – DIP Lender Did Not Meet “Good Faith” Requirement
The Fifth Circuit recently held that a debtor-in-possession (DIP) lender did not qualify as a “good faith” lender, overturning orders of the United States District Court and Bankruptcy Court for…
Restructuring Debt Review
The Muddy Waters of Claim Classification
By Oren Haker
The chapter 11 case of In re Hyatt out of the Bankruptcy Court for the District of New Mexico illuminates a debtor’s use of claim classification to allocate creditors different…
Delaware Bankruptcy Update
Quantum Foods Preference Actions Update
In a prior post, we discussed the commencement of approximately 72 preference actions filed in the Quantum Foods bankruptcy proceeding by the Creditors Committee. In the preference actions at issue,…
In Solvency
Unitek Global Services Files a Prepack Chapter 11 Bankruptcy in Delaware
By Fox Rothschild LLP, Fox Rothschild LLP
Unitek Global Services, Inc. (“Unitek” or the “Debtor”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the…
Restructuring Globalview
NY Law Firm Equity Partners: Your Services Have No (Reasonably Equivalent) Value
A group of former partners of Dewey & LeBoeuf LLP are doing everything they can to hold on to monthly partnership draws they received in the months and years leading…