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Sixth Circuit Appellate Blog
Sixth Circuit Rejects $500 Million Claim By FDIC
In FDIC v. AmTrustFinancial Corporation, the Sixth Circuit considered the results of the very first trial in the nation under Bankruptcy Code Section 365(o). Section 365(o) is an infrequently litigated…
Bankruptcy Litigation Blog 2.0
Bankruptcy Tweets of 2011-2012 Cases – A Year in Review – V.3
Here's more in the continuing "Year in Review" series, catching up on more of my backlog of twitter posts of case developments in the past 12 months. Each post will feature…
Delaware Bankruptcy Update
What is the Basis for an Administrative Rent Claim?
There are generally three types of claims in a bankruptcy proceeding: unsecured claims, secured claims and administrative expense claims. Section 503 of the Bankruptcy Code governs the allowance of administrative…
Georgia Bankruptcy Blog
ND Ga – Judge Drake Holds Bank Had Prepetition Right To Setoff Even In Absence of Formal Demand Or Default
By Sunghee Sohn
In re MCB Financial Group, Inc., Case No. 10-11176-WHD, 2011 Bankr. LEXIS 5502 (Bankr. N.D. Ga. March 31, 2011) (click here for .pdf of order) In 2008, Debtor MCB Financial…
Bankruptcy Law Insights
Game On in Stockton, CA Chapter 9 Case – Bond Insurer Sets Focus on Calpers
By Ben Feder
The Olympics may be over, but a potential clash of titans is gearing up in the Chapter 9 bankruptcy case of Stockton, California. Municipal bond insurer National Public Finance Guarantee Corporation…
The Brand Protection Blog
Trademark Infringement Suit Continues Despite Bankruptcy of Defendant
The Sixth Circuit, in Dominic’s Restaurant of Dayton Inc. v. Mantia, No. 10-3376, July 7, 2012, affirmed a District Court decision to continue contempt proceedings against a defendant in a…
Georgia Bankruptcy Blog
Southern District of Georgia: Small Business Chapter 11 Plan Must Be Filed Within 300 Days; Deadline Cannot Be Extended Pursuant To Section 105.
By Sunghee Sohn
In re Randi's, Inc., Ch. 11 Case No. 11-10431, Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes;…
In Solvency
Delaware Bankruptcy Court Finds Bonus Plan Was Created in the Ordinary Course of Business
By Fox Rothschild LLP, Fox Rothschild LLP
On July 9, 2012, Judge Peter J. Walsh of the United States Bankruptcy Court for the District of Delaware issued a memorandum opinion (the "Opinion"), in the Blitz U.S.A. bankruptcy…
Finance & Bankruptcy Law Blog
Canonized Credit-Bidding: The Supreme Court Unanimously Affirms Secured Creditor’s Right to Credit-Bid at Free and Clear Sale in Plan
By Michael M. Lauter On May 29, 2012, the Supreme Court ruled 8-0 that a debtor could not confirm a plan over a secured creditor’s objection if the plan provided for…
M & A Law Prof Blog
Supreme Court Protects Credit Bid in Cramdown Bankruptcy Plan
By CorporateAcquisitions MergerLawBlogger
On May 29, 2012, in RadLAX Gateway Hotel LLC v. Amalgamated Bank,the U.S. Supreme Court unanimously held that a debtor-owner of a hotel encumbered by a mortgage lien securing over $120…