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Delaware Bankruptcy Update
AFA Investment Preference Actions Filed
On March 28, 2014, AFA Investment Inc. filed approximately 125 complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, to disallow…
Georgia Bankruptcy Blog
Judge Diehl: Undisbursed Funds Paid Into Court For Garnishment Are Property Of The Estate
By Scott Riddle
In In re Cochran, Ch. 7 Case No. 13-43242, 2014 Bankr. LEXIS 1178 (Bankr. N.D. Ga. Feb. 10, 2014), the issue in the motion to avoid lien was whether funds…
Bankruptcy Report
In re Fisker: Delaware Bankruptcy Court Imposes Roadblock to Credit Bidding
By Dustin Smith
In considering a Section 363 asset sale in In re Fisker Automotive Holdings, Inc., , the United States Bankruptcy Court for the District of Delaware used its “for cause” power…
In Solvency
Optim Chapter 11 Bankruptcy Case: 341 Meeting Scheduled for March 18, 2014
In the Optim Energy, LLC bankruptcy proceeding, the 341 Meeting of Creditors has been scheduled for March 18, 2014. The Section 341 Meeting will be held at the J. Caleb…
Bankruptcy Report
Glass Half Full for U.S. Creditors in Jaffe v. Samsung Electronics Co.: Fourth Circuit Rules In Favor of U.S. Creditors in Chapter 15 Jurisdictional Dispute
By Dustin Smith
On December 3, 2013, the Court of Appeals for the Fourth Circuit upheld, in Jaffe v. Samsung Electronics Co., the power, and the duty, of a United States Bankruptcy Court…
Bankruptcy Report
Bankruptcy Court in SDNY Decides Question of Section 510(b) Subordination of Claims Arising from Securities of an Affiliate of the Debtor
By Jason Zakai
Mandatory subordination pursuant to section 510(b) of the Bankruptcy Code is commonly applied where claims arise from the purchase or sale of securities that were issued by the debtor. Less…
Delaware Bankruptcy Update
Tuscany Bankruptcy: No Unsecured Creditors’ Committee Formed
In the Tuscany International Drilling bankruptcy action, filed in the United States Bankruptcy Court for the District of Delaware, the United States Trustee recently filed a Statement that the Unsecured…
Southern California Bankruptcy Law Blog
Preferential Transfers IV: Defenses to Preference Avoidance Actions (Part I)
Defenses against a preference avoidance action.
Delaware Bankruptcy Update
Plextronics, Inc. Files for Chapter 11 Protection
Plextronics, Inc. (“Plextronics” or the “Debtor”) filed for bankruptcy under Chapter 11 of the Bankruptcy Code on January 16, 2014 in the United States District Court for the District of…
Employee Benefits Law Report
What to Do About Employee Benefits When The Company is Headed Towards Insolvency
If you are a board member or senior executive of a company that is rapidly failing, what do you about employee benefits? No one has ever liked my answer: freeze…