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Legal News – LexBlogosphere: 11/23/07
By Rob La Gatta
Hope everyone is recovering well from last night's celebration.As we continue to count down the final few days of existence for these LexBlogosphere updates (preparing to usher in the arrival…
In The (Red)®
The Bull Rips A Hole In The Matador’s Cape: New Ninth Circuit Decision Limits Reach Of Section 502(b)(6)’s Landlord Cap
A commercial real estate lease often represents the largest single liability of many debtors. For retailers, which typically have scores or even hundreds of store leases, the liability involved is orders…
In The (Red)®
Ordinary Course Preference Case Takes Extraordinary Turn: Ninth Circuit Strikes Down Local Bankruptcy Rule On Jury Trials
Preference lawsuits are filed all the time in bankruptcy cases and the ordinary course of business defense is frequently asserted. Still, it's the rare case that ends up with a federal court of…
In The (Red)®
The Best Of Both Worlds: Can A Secured Creditor Get A Section 503(b)(9) “20 Day Goods” Administrative Claim Too?
In a decision from August 17, 2007, just released for publication, the Ninth Circuit's Bankruptcy Appellate Panel (BAP) faced a previously unanswered question under Section 503(b)(9) of the Bankruptcy Code, the…
In The (Red)®
Another Court Follows The Footstar Decision On Assumption Of IP Licenses In Bankruptcy
Intellectual property licenses continue to be significant to companies across a wide range of industries. This fact makes their treatment in business bankruptcy cases a topic of keen interest. Can A…
In The (Red)®
Third Circuit Holds Contemporaneous Exchange Defense To Preference Claim Is Available Even For Credit Transactions
On June 7, 2007, the U.S. Court of Appeals for the Third Circuit issued a decision in the In re Hechinger Investment Company case holding that the "contemporaneous exchange for new…
The Contingency
Honorary “Director” Not a “Director”, Tenth Circuit Holds
Section 547(b) of the Bankruptcy Code allows a debtor (or its trustee) to set aside pre-bankruptcy transfers to "insiders" of the debtor. The definition of insider includes companies for which…
New Jersey Law Blog
Rights of Suppliers under Bankruptcy Law
In light of yesterday's bankruptcy filing by Rockaway Bedding, suppliers to the retail chain need to be aware of how to proceed in protecting themselves for the goods they have…
Finance & Bankruptcy Law Blog
Fobian Overruled
In Travelers Cas. and Sur. Co. of America v. Pacific Gas & Electric Co., 127 S. Ct. 199 (2007) ("Travelers"), the United States Supreme Court overturned a Ninth Circuit Court…
Georgia Bankruptcy Blog
MD Ga – Vehicle Driven Primarily By Debtor’s Spouse Was Not “Aquired For Personal Use of Debtor,” And Hanging Paragraph Of §1325(a) Did Not Protect Creditor
By Scott Riddle
By: Scott B. Riddle, Esq. In In re Adams, Ch. 13 Case No. 06-51651, 2007 Bankr. LEXIS 616 (Bankr. M.D. Ga. March 1, 2007)(Hershner), the debtor husband purchased a new…