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ContractsProf Blog
Recharged: Another Bankruptcy Court Says Electricity Is NOT a Good
In February, we posted about an Oregon bankruptcy court that had concluded that electricity is not a good. Last week, a New York bankruptcy court followed suit in an unpublished…
Restructuring Globalview
MOAC Mall Holdings LLC v. Transform Holdco LLC – The US Supreme Court Unanimously Rules That Section 363(m) Is Not Jurisdictional
By Justin Cloyd
On April 19, 2023 the Supreme Court issued its unanimous ruling in MOAC Mall Holdings LLC v. Transform Holdco LLC, 528 U.S ____ (2023), holding that the limitations contained in…
Credit Report
Supreme Court rules section 363(m) limitations on bankruptcy sale appeals not jurisdictional
By Brian Hockett, dwarfieldthompsoncoburn-com, Katie Kraft
On April 19, 2023, the U.S. Supreme Court issued its opinion in MOAC Mall Holdings LLC v. Transform Holdco LLC, 598 U.S. (2023), reversing the Second Circuit decision and determining…
Bench & Bar of Minnesota
SCOTUS: Bankruptcy doesn’t erase debts incurred by the fraud of another
By Minnesota State Bar Association
By George H. Singerghsinger@hollandhart.com The United States Supreme Court recently answered the question of whether a debtor in bankruptcy can discharge a debt resulting from another person’s fraud, even if…
Real Bankruptcy Intel
Ultra Petroleum Seeks US Supreme Court Review of Fifth Circuit’s Make-Whole and Contractual Default Rate Ruling
By Sean T. Scott, Aaron Gavant, Kyle J. Tum Suden
On February 13, 2023, Ultra Petroleum Corporation (“Ultra”) filed a petition for a writ of certiorari with the US Supreme Court seeking review of the Fifth Circuit’s October 2022 ruling…
Consumer Financial Services Law Monitor
Supreme Court to Hear Bankruptcy Case Focusing on Tribal Immunity
By Jared Bissell, Deborah Kovsky-Apap
The Lac du Flambeau Band of Lake Superior Chippewa Indians (Lac du Flambeau Band) found support from law professors specializing in federal Indian law as well as an assemblage of…
Consumer Financial Services Law Monitor
Supreme Court Holds Debtor Who is Liable for Fraud Cannot Discharge That Debt in Bankruptcy
By Andrew Buxbaum, Deborah Kovsky-Apap
In a unanimous decision, the Supreme Court held that § 523(a)(2)(A) of the Bankruptcy Code precludes a debtor from discharging a debt obtained by fraud, regardless of the debtor's own…
Herrick Restructuring Review
Considering the Allowability of “Make-Whole Payments” in Bankruptcy
By Steven Smith, Elizabeth Plowman
Ultra Petroleum Corporation et al. v. Ad Hoc Committee of OpCo Unsecured Creditors, No. 21-20008 (5th Cir. 2022) Make-whole provisions—common provisions in credit agreements providing for lump sum payments to…
Green Leaf Brief
Decision Blocks Ch. 13 Bankruptcy for Cannabis Business Employee
If you work for a cannabis business, then bankruptcy relief may not be available to you, according to the In re Blumsack decision out of the U.S. Bankruptcy Court for…
Hunton Retail Law Resource
Third Circuit Dismisses Talc Bankruptcy
By Gregory G. Hesse, Brandon Bell
On Monday, January 30, 2023, the Third Circuit in In re LTL Management, LLC ordered debtor LTL Management, LLC’s chapter 11 petition dismissed for failure to demonstrate that the petition…