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 January 22, 2016
    Bankruptcy and Insolvency News and Analysis Week Ending January 15, 2016
    Bankruptcy and Insolvency News and Analysis Week Ending January 8, 2016
    Happy Holidays
       

    Bankruptcy and Insolvency News and Analysis – Week Ending September 18, 2015

    September 18th, 2015

    Panic-of-1857

    Case Commencement

    Dueling venues and the (almost) futility of involuntary bankruptcy

    Bankruptcy Estate

    Whose Property Is The Corporate Social Media Account?

    Automatic Stay

    Religious Proceeding Violates Automatic Stay

    Claims, Avoidance, and Recovery

    Think You Got A Blank Check? Think Again

    In re Alternate Fuels, Inc.: Key Takeaways for Venture Capitalists Working with Emerging Companies

    A Bankruptcy Horror Story – State Bank of Toulon v. Covey (In re Duckworth)

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    Bankruptcy and Insolvency News and Analysis – Week Ending September 11, 2015

    September 12th, 2015

    1907_Panic-2

    Claims and Priorities

    “Conduct” Test Now the Rule in the Seventh Circuit – But We Still Don’t Know How the Seventh Circuit Will Deal With Due Process Concerns

    Decoding the Code: Bankruptcy Code Section 510(a) – Subordination Agreements in Bankruptcy

    Fail to ‘Notice’ an Objection to Your Proof of Claim? Too Bad Says the Bankruptcy Court

    Avoidance and Recovery

    Overview of the Landscape for Evaluating Creditors’ Breach of Fiduciary Duty Claims in Delaware

    The Good Faith Transferee Defense and Publicly Traded Securities

    Cross-Border

    Bankruptcy Court Authorizes Hellas II Liquidators to Proceed with Claims against Apax, TPG and Others

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    Bankruptcy and Insolvency News and Analysis – Week Ending August 14, 2015

    August 14th, 2015

    1923_german_financial_crisis

    Avoidance and Recovery

    Assumption/Assignment of Contracts – Preference Defense

    Fraudulent Transfer, Breach of Fiduciary Duty Claims Constitute Equitable Tolling

    Sales

    Chapter 11 Sales: Believe It Or Not, There Really Are Limits

    Transferring Customer Data in an Asset Sale

     

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

    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

    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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    Debt Equity: Recharacterization of Debt in Bankruptcy Proceedings – And What To Do About It

    July 30th, 2015

    Burma_1926_Promissory_Note

    How can an ostensible lending transaction be recharacterized later on as an equity investment?

    When a client decides to extend debt funding to a struggling venture that finds itself in bankruptcy, this loan can later be “recharacterized” as equity, leaving your client to wait at the back of the line behind “true” lenders and lienholders.

    On Tuesday (7/28), colleagues Victor Sahn and Jeff Pomerance of SulmeyerKupetz Professional Corporation joined me and about 30 of our friends for a webinar discussion on debt-equity recharacterization and the related (but distinct) concept of claim subordination in bankruptcy.

    View it here.

    Update:  A 3-judge panel of the Tenth Circuit Court of Appeals has very recently issued a decision on this issue (available here), upholding prior authority and deciding a request for recharacterization in favor of the creditor.  Along the way, the Tenth Circuit acknowledged a split in the Circuits over the basis for Bankruptcy Courts’ authority to recharacterize claims.  Will we see a trip to the Supreme Court?

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

    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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    Bankruptcy and Insolvency News and Analysis – Week Ending June 26, 2015

    June 26th, 2015

    us-economy-cartoon

    Jurisdiction

    Difficulties in Pursuing Non-Bankruptcy Litigation in Bankruptcy Court

    Corporate Governance

    The LLC Member In Bankruptcy: Ehmann And Its Progeny

    Claims Objection And Subordination

    Mandatory Subordination of Claims Arising from the Purchase or Sale of Securities

    Can You Object to a Claim Just Because It Doesn’t Include Supporting Documentation? The Answer May Not Be as Simple as You Think

    Avoidance and Recovery

    Everything Has Its Own Value: 7th Circuit Holds That Forbearances by a Lender May Be Considered When Determining Reasonably Equivalent Value

    Confirmation

    Insight – Trucker’s bankruptcy exit may roughen road for small creditors

    Cross-Border

    Raising a Drawbridge Objection: Eligibility in Chapter 15 Cross-Border Insolvency Cases

    Related Articles

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    Bankruptcy and Insolvency News and Analysis – Week Ending June 19, 2015

    June 19th, 2015

    Uncle Sam is Broke

    Trends

    Return of the Turnaround?

    Polsinelli’s Jim Bird talks top five distressed industries

    Secured Claims

    Video Interview: Discussing Bank of America v. Caulkett, Supreme Court Ruling Survives Bankruptcy

    Confirmation

    Losing Momentive: A Roadmap to Higher Cramdown Interest Rates

    Can You Vote More Than Once? The Bankruptcy Code’s Current “Numerosity” Standard Under § 1126(c) and Possible Reform

    Cramdown Hurdles Round 3: Try, Try Again

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    Bankruptcy and Insolvency News and Analysis – Week Ending June 5, 2015

    June 5th, 2015

    Down With the Rich

    Trends

    May Commercial Chapter 11 Bankruptcies Increase 16%

    Quick Bankruptcy Exit May Lead to Return Trip, Professionals Say

    Unsecured Claims

    Setoffs – Cutting Your Losses Both Inside and Outside Bankruptcy

    Secured Claims

    United States Supreme Court Begrudgingly Extends Dewsnup Decision

    You’re Late! You’re Late! For a Very Important Date! Seventh Circuit Holds Bankruptcy Rule 3002(c) Deadline to File Proofs of Claim Applies to Secured Claims

    The ABI Commission on Reform of Chapter 11 Final Report: What Secured Creditors Need to Understand

    Recent Unitranche Issues in the RadioShack Bankruptcy Case

    Fodder for the Dinner Table: The Rights of Secured Creditors in Chapter 11

    Litigation

    Spoken in Your Office, Read in the Courtroom: What Corporate Officers and Trustees Need to Know About the Waiver of the Attorney-Client Privilege in Bankruptcy

    Confirmation

    In re Jevic Holding Corp: Third Circuit Allows Structured Dismissal of Chapter 11 Case that Violates the Bankruptcy Code’s Priority Scheme

    Related Articles

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