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Delaware Bankruptcy Update
Ascendia Brands Files Over 200 Preference Actions in Delaware Bankruptcy Proceeding
Introduction In July of this year, Ascendia Brands, Inc., began filing preference actions against various defendants who allegedly received payments from Ascendia. According to the complaints, the defendants, many of whom were former customers…
Bankruptcy & Restructuring Law
What Does “Commercially Reasonable Determinants of Value” Mean Under Section 562 of the Bankruptcy Code?
As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”), Congress added Section 562 to the Bankruptcy Code. Section 562 governs the timing of damage measurements with…
In Solvency
Litigation Trustee in SemCrude Files Preference Complaints
By Fox Rothschild LLP, Fox Rothschild LLP
Earlier this month, Bettina M. Whyte, the SemGroup Litigation Trustee (the "Trustee") filed approximately 350 adversary actions against various creditors in the SemCrude bankruptcy. The majority of the adversary actions…
In The (Red)®
Third Circuit Decision Suggests Another Way For Trademark Licensees To Protect Against License Rejection In Bankruptcy
Trademark licensees have long faced the serious risk of losing all license rights to a trademark if the licensor files bankruptcy and rejects the trademark license as an executory contract.…
Land Use Prof Blog
Hauser on the Case for Allowing Mortgage Modifications in Bankruptcy
Susan E. Hauser (North Carolina Central) has posted Cutting the Gordian Knot: The Case for Allowing Modifications of Home Mortgages in Bankruptcy, Journal of Business & Technology Law, Vol. 5,…
Renewable Energy Insights
Erving Industries, Inc.: The Sale of Electricity May Be Entitled to a Priority Claim Under Section 503(b)(9) of the Bankruptcy Code
A recent decision of the United States Bankruptcy Court for the District of Massachusetts in the Erving Industries, Inc. chapter 11 cases(1) held that electricity sold by a supplier that…
Delaware Bankruptcy Update
North American Petroleum Corporation Files for Bankruptcy in Delaware Following Dispute With Enterra Energy
Introduction North American Petroleum Corp ("North American") filed for bankruptcy protection in the United States Bankruptcy Court for the District of Delaware on May 26, 2010. According to North American's…
Delaware Bankruptcy Update
Electrical Components International Files Bankruptcy, Seeking Approval of Prepackaged Plan of Reorganization
Introduction On March 30, 2010, Electrical Components International ("ECI"), filed a Petition for Bankruptcy in the United States Bankruptcy Court for the District of Delaware. One of the first documents…
Bankruptcy Litigation Blog 2.0
Bankruptcy Tweets for the Week Ending 4/4/2010
No shortage of interesting cases. Here are a few that I posted on Twitter this past week. RSS Feeds are also available TX Dist. Ct. affirms decision requiring debtor to pay…
Bankruptcy & Restructuring Law
Dollar Amount Revisions Under Various Sections of the Bankruptcy Code Take Effect as of April 1, 2010
Pursuant to section 104(a) of the Bankruptcy Code (11 U.S.C. § 104(a)), starting April 1, 1998, and at each three year interval ending on April 1 thereafter, the dollar amounts…