The South Bay Law Firm Law Blog highlights developing trends in bankruptcy law and practice. Our aim is to provide general commentary on this evolving practice specialty.
 





 
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      Bankruptcy and Insolvency News and Analysis Week Ending February 5, 2016
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    Bankruptcy and Insolvency News and Analysis – Week Ending February 5, 2016

    Monday, February 8th, 2016

    Houses and Money

    Sales

    Managing the Preparation, Delivery and Review of the Disclosure Schedule in Section 363 Transaction Can Help Avoid a Shipwreck

    Claims

    Subordination of Claims Under Bankruptcy §510(B)

    Bankruptcy Law News: Reclamation or Section 503(b)(9) Claim? – A Potential Trap

    Secured Claims

    In re Domistyle, Inc.: When Is a Section 506(c) Surcharge Appropriate?

    Avoidance and Recovery

    Fraudulent Transfers In Hypnotic Taxi

    Confirmation

    Ninth Circuit Follows the Lead on Absolute Priority Rule

    Unsecured Creditor Wins Over Individual Ch. 11 Debtor

    Cross-Border

    Cross-Border Closing Opinions of U.S. Counsel

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    Bankruptcy and Insolvency News and Analysis – Week Ending January 15, 2016

    Sunday, January 17th, 2016

    Financial Crisis Logo

    Trends and Legislation

    AACER: Pardon the Interruption. . .Bankruptcy Filings Resume Their Decline

    Bankruptcy Filings Declined 10 Percent in 2015

    2015 Bankruptcy Recap: 46% Increase Fueled By Oil & Gas/Mining Industry – Analysts Predict Further Uptick

    Examining Proposed Chapter 11 Reforms Through the Lens of Recent Retail Cases

    Post-Petition Operations

    Is a “Sound Business Purpose” Always Enough?

    Sales

    Faced with a Belated Offer for the Debtor’s Assets, Bankruptcy Court Converts the Case to Chapter 7 to Allow a Trustee to Run the Sale Process

    Avoidance Actions

    PREFERENTIAL TRANSFER LAWSUITS BY NEW BORROWERS/DEBTORS — IS IT GAME OVER ON THE ORDINARY COURSE DEFENSE?

    Red Flag Warnings: Ignore Them At Your Peril

    UCC Financing Statements: The Ins and Outs of “Authorization”

    Claims

    Claims Trading Warps the Bankruptcy System

    Dismissal

    ‘Sketchy Activity’ Gets Bankruptcy Case Dismissed

    Cross-Border

    Regulations, Roadmaps and Recommendations: The Latest Developments in the Harmonisation of Global Insolvency Laws

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    Bankruptcy and Insolvency News and Analysis – Week Ending October 23, 2015

    Friday, October 23rd, 2015

     

    A Run on the Bank

    Trends

    The LSTA Publishes Detailed Response to the ABI Commission’s Proposed Bankruptcy Reforms

    Secured Claims

    California Court Holds Implied Consent Is a Valid Alternative Basis to Surcharge Secured Creditors’ Collateral

    Executory Contracts

    Bankruptcy Court Makes ‘Executive’ Decision, Rules Master Service Agreement Ineligible for Rejection

    Sales

    Das Moot – Debtors’ Argument that 363(m) Moots Creditors’ Appeal of Sale Order Gets Sunk by Third Circuit

    Avoidance and Recovery

    In re PSN USA, Inc: Eleventh Circuit Holds Indirect Benefits May Constitute Reasonably Equivalent Value Under Section 548

    Cross-Border

    Chapter 15 Provides Restructuring Avenue for Brazilian Companies

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    Bankruptcy and Insolvency News and Analysis – Week Ending September 25, 2015

    Friday, September 25th, 2015

     

    Great Recession - 1

    Case Commencement

    Guernsey Dairy Opinion – Allowing WARN Claims to Arise May Breach a Director’s Duty

    Venue and Compensation

    Stakeholders Have Mixed Views on Attorneys’ Fee Guidelines and Venue Selection for Large Chapter 11 Cases

    What Happens In The Bahamas – – Stays In The Bahamas

    Creditors’ Expenses Can Be Reimbursed in Ch. 7 Case

    Automatic Stay

    District Court Holds that Assignee is Not Entitled to Safe Harbor Protections

    Claims and Administrative Expenses

    Checkmate: Trumping a Supplier’s Administrative Claim

    REEXAMINING THE EQUITABLE POWERS OF THE BANKRUPTCY COURT AFTER LAW V. SIEGEL

    Sales

    Third Circuit Approves Use of Escrow Agreements Funded by Acquirers to Pay Junior Creditors Before Senior Creditors

    So Long as It’s Your Own Money — Third Circuit Allows Secured Creditors to Gift Value to Junior Creditors to Resolve Sale Objection Even When More Senior Creditors Receive Nothing

    Confirmation and Discharge

    Putative Class Actions in Bankruptcy for Violations of the Discharge Injunction and Bankruptcy Code Section 524(j)

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    Bankruptcy and Insolvency News and Analysis – Week Ending August 7, 2015

    Friday, August 7th, 2015

    Burning 20

    Trends

    July Commercial Chapter 11 Filings Increase 77 Percent from 2014

    Claims And Litigation

    Just Follow the Rules!  FRCP amendments could be e-discovery game changer

    Officer/Director Breach of Duty: If Things Get Bad Enough, There May Be Recourse

    Avoidance and Recovery

    Ordinary Course of Business Defense Further Examined – Burtch v. Revchem Composites, Inc.

    In a Case of First Impression at the Circuit Level, Ninth Circuit Holds an Insider Who Waives his Right to Indemnification from the Debtor is not a “Creditor” for Purposes of Preferential Transfers Under Sec. 547 of the Bankruptcy Code

    Sales

    The ABI Commission on Business Bankruptcy Reform: The Sale of All or Substantially All of the Debtor’s Assets and Proposed Creation of “Section 363(x)”

    Confirmation

    IN RE SEASIDE ENGINEERING: ELEVENTH CIRCUIT HOLDS FAST ON LEGITIMACY OF NON-CONSENSUAL THIRD PARTY PLAN RELEASES

    Structured Dismissals Part IV – Bells & Whistles: Sweetening the Pot and Drawing Objections

    Post-Bankruptcy Investing & Chapter 22s: Iconic Branding Alone Is Not Enough

    Cross-Border

    OAS S.A. Part III – SDNY Takes a Narrow View of Chapter 15’s Public Policy Exception

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    Bankruptcy and Insolvency News and Analysis – Week Ending July 31, 2015

    Friday, July 31st, 2015

    panic-on-the-floor

    Trends

    Fitch: U.S. Consumer Bankruptcies Set to Fall to Eight-Year Low

    Bankruptcy Filings Down 12 Percent Since Last June

    Sales

    Credit Bidding: Not An Absolute Right (And What Does That Mean?)

    Avoidance and Recovery

    The Fifth Circuit Declares A Mulligan In The Golf Channel “Innocent Transferee” Case

    Claims

    Tenth Circuit Declares “No Recharacterization Without Justification”

    Cross-Border

    SDNY Sides with Fifth Circuit and the UNCITRAL Model Law when Granting Recognition to OAS S.A. et al.

    OAS S.A. Part II – SDNY Holds That Austrian Financing Subsidiary Has Its Center of Main Interests in Brazil

    OAS Chapter 15 decision sheds new light on cross-border insolvency practice, but may add complexity to financial institutions’ global credit risk management

     

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    Bankruptcy and Insolvency News and Analysis – Week Ending July 10, 2015

    Friday, July 10th, 2015

    wanted_decent_job

    Trends

    Bankruptcy Filings Fall 12 Percent for the First Half of 2015, Commercial Filings Drop 19 Percent

    Automatic Stay

    District Court Holds Swap Claim Assignee Not A Swap Participant Entitled To Safe Harbor Rights

    Sales

    Onward, Christian Soldiers: Some Guidance on 363 Sales, Fair Auctions, and Proposed Sales to Insiders

    Avoidance and Recovery

    Fifth Circuit Seeks Mulligan on Texas Law Question in Golf Channel case

    Related Articles

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    Insolvency News and Analysis – Week Ending November 21, 2014

    Friday, November 21st, 2014
    English: The Supreme Court of the United State...

    The Supreme Court of the United States. Washington, D.C. (Photo credit: Wikipedia)

    Trends

    Ch. 11s Fall 24 Percent in Week Ended Nov. 14 from Year Ago Pace

    Third Quarter Review

    Legislation and Rules

    A Dozen Reforms the ABI’s Bankruptcy Reform Commission Report Should Endorse

    Amendments Adopted by the Supreme Court to be Effective December 1, 2014

    Jurisdiction

    Thoughts on a New Age of Consent: What Does Consent Mean with Respect to Stern Claims?

    Secured Claims

    ‘Stripping Off’ Mortgage Cases Going To High Court

    Avoidance and Recovery

    NOLs – A Recoverable Transfer?

    Positive Health Of The Fraudulent Transferee’s Good Faith Defense

    Sales

    Buyer Beware: Payment On Assumed Debt In An Asset Sale Could Be An Avoidable Preference

    Confirmation

    Cramdown Hurdles Round 2: Confirmation Can Be An Elusive Prize

    Cross-Border

    Chapter 15 Bankruptcy: Game-Changer or False Dawn?

    Forty-Four Percent of Chapter 15s Filed in S.D.N.Y. in 2014

    Suntech Chapter 15: Moving COMI and Establishing Jurisdiction Held Legitimate and Not Improper Manipulation

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    Insolvency News and Analysis – Week of November 7, 2014

    Friday, November 7th, 2014
    English: The John Minor Wisdom U.S. Courthouse...

    English: The John Minor Wisdom U.S. Courthouse, home of the United States Court of Appeals for the Fifth Circuit, New Orleans, Louisiana. (Photo credit: Wikipedia)

    Trends

    Year-Over-Year Bankruptcy Filings Continue to Decline

    Current Developments

    Recent Developments in Bankruptcy Law

    Secured Claims

    Recent “Family Farmer” Case Shows How Secured Creditors Can Avoid Being Plowed Down By Unfair Cramdown Provisions

    The Bankruptcy Clause, the Fifth Amendment, and the Limited Rights of Secured Creditors in Bankruptcy

    Lenders take note of recent Fifth Circuit bankruptcy decision

    In re Motors Liquidation: No Intent Required for UCC-3 Termination Statement to be Effective

    Avoiding Collateral Damage: In re Motors Liquidation and the Effectiveness of UCC Termination Statements

    Administrative Claims

    In re World Imports: Court Denies Section 503(b)(9) Claims of Sellers Who Did Not Ship Goods Directly to the Debtor

    Proofs of Claim

    Think Twice: Signing Proofs of Claim for Clients

    Avoidance and Recovery

    Is this Harbor Safe? Second Circuit Set to Explore Limits of Bankruptcy Code Section 546(e)

    New Value Does Not Need to Remain Unpaid

    Give and Take: Delaware Bankruptcy Court Dismisses Trustee’s Turnover and Avoidance Claims Relating to Debtor’s Net Operating Losses

    Ordinary Course of Business Preference Defense Clarified in a Recent SDNY Bankruptcy Court Decision

    Sales

    Opportunistic Acquisitions: Buying Assets Through Bankruptcy

    Liquidations

    Stop in the Name of Equity: Second Circuit Affirms Dismissal of Appeals in Chapter 11 Liquidation Proceedings as Equitably Moot

    Reorganizations

    Momentive Postscript – Bankruptcy Rule 3018: Vote Changing on Chapter 11 Plans: You Can’t Have Your Cake and Eat It, Too

    Cross-Border

    Corporate Bankruptcy Tourists Land in U.S.

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    Insolvency News and Analysis – Week Ending October 10, 2014

    Friday, October 10th, 2014

    Current Events

    Commercial Restructuring and Bankruptcy News (ReedSmith, LLP)

    Venue

    The Short Case for Venue Reform

    Procedure

    Proposed Bankruptcy Rule and Official Form Changes

    Secured Claims

    Just When You Thought You Were Out, They Pull You Back In

    Credit bidding challenges in bankruptcy

    Administrative Claims

    When Are Goods “Received” by the Debtor? Establishing International Suppliers’ Entitlement to 503(b)(9) Administrative Expense Claim

    Executory Contracts, IP, and Licensing

    Questioning the Executoriness of Trademark Licenses in Integrated Agreements

    Avoidance and Recovery Actions

    Dilution Of Corporate Stock As A Fraudulent Transfer In Antonello

    R-E-C-O-V-E-R: Find Out What It Means to the Third Circuit

    Strong Arm Powers: What Can Be Done With An Avoided Lien?

    Uniform Voidable Transactions Act Approved by Uniform Law Commission to Replace UFTA

    Subordination and Recharacterization

    Focusing on Intent in Recharacterization Analysis, Delaware Bankruptcy Court Ruling Indicates that Creditors Seeking Derivative Standing Face High Hurdle

    Bankruptcy Sales

    Opportunistic Acquisitions: Buying Assets Through Bankruptcy

    Sales Free and Clear: What About Restrictive Covenants?

    Conversion and Dismissal

    Taking a Stand Where Few Have Trodden: Structured Dismissal Held Clearly Authorized by the Bankruptcy Code

    Cross-Border

    Brazilian Reorganization Plan: Fundamentally Fair or Wholesale Trampling of Creditors’ Rights?

    U.S. Causes of Action and Attorney Retainer Fund Sufficient Assets for Chapter 15 Recognition

    A “Second Bite” from the Second Circuit: Revisiting Section 363 Review of Transfers in Chapter 15 Bankruptcy Cases

    Second Circuit Holds That a Sale by a Chapter 15 Debtor in a Foreign Main Proceeding of a Claim Against an Obligor Located in the U.S. Must Be Reviewed by the U.S. Bankruptcy Court Under Section 363 of the Bankruptcy Code

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