Bankruptcy News (Lexis Insights)
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Updated: 18 weeks 1 day ago
Opel, European Union State Aid and Insolvency: The Negotiations by GM to Spin Off Opel
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I. INTRODUCTION
The Weltfinanzkrise slammed into the world automotive industry with hurricane force on Sunday, September 14
In re North Shore Hematology-Oncology Associates, 400 B.R. 7 (Bankr. E.D.N.Y. 2008)
In re North Shore Hematology-Oncology Associates held that appointment of a healthcare ombudsman is not necessary unless patients' rights to quality care and privacy have already been violated. The threshold for appointing a healthcare ombudsman is very high and requires evidence that patients are
Commercial & Residential Maintenance, Inc. v. Abblitt (In re Abblitt)
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In Commercial and Residential Maintenance, Inc. v. Abblitt (In re Abblitt) , 2009 Bankr. LEXIS 4084 (Bankr. D. Or. Dec. 21
The 9th Circuit's Interpretation of Inherent Power to Sanction Attorneys
Bankruptcy courts have broad authority to discipline attorneys pursuant to their inherent sanction power. In the recent Price v. Lehtinen (In re Lehtinen) decision, the Ninth Circuit stated that bankruptcy courts can exercise their inherent power to sanction attorneys in any way that is not puniti
Jones v. Wells Fargo Home Mortgage, Inc. (In re Jones)
This Emerging Issues Analysis examines a bankruptcy court's decision to order the implementation of certain accounting procedures where punitive damages alone would not make the mortgage company change its behavior. The court relied on its own inherent authority as well as the author
Immunity of "Settlement Payments" from Fraudulent Transfer Suits
In this Emerging Issues Analysis, author James M. Lawniczak looks at the 2009 appellate decisions establishing the majority view that buyout payments made to departing shareholders in leveraged buyout situations will be protected from avoidance actions under Code section 546(e) so long as the paymen
Terminal Valuation: Will the Seventh Circuit Decision on Valuation of United Airlines Bond Collateral Bring Closure to Recharacterization Litigation?
The Seventh Circuit's decision to reverse a ruling on valuation made by the Northern District of Illinois District Court regarding collateral for United Airlines bonds is an interesting one in its own right, for its approach to valuing collateral in bankruptcy. It is also an important development
The Treatment of "Stub Rent" in the Goody's and Stone Barn Retail Apparel Bankruptcies
Two recent decisions in retail apparel bankruptcy cases, in Delaware and New York, highlight the ongoing uncertainty regarding "stub rent". While the ultimate financial outcomes for the landlords in the two cases are similar, the different approaches taken by the courts leave open questi
Debtor Against Debtor: Limits on the Discharge of Claims by One Bankruptcy Estate Against Another
As corporate bankruptcy filings increase, one debtor corporation is more likely to find that it has claims against another unaffiliated debtor corporation. The US Bankruptcy Code is generally not drafted with this situation in mind, and questions may arise regarding the effect of one debtor's bank
New Revenue Procedure 2009-37 and the Cancellation of Indebtedness Income Deferral Under I.R.C. Section 108(i)
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In 2009 Congress enacted I.R.C. Section 108(i), which permits a taxpayer to defer recognition of COD income when the taxpayer or a related
Ogle v. Fidelity & Deposit Co. of Maryland, 586 F.3d 143 (2d Cir. 2009)
In this Emerging Issues Analysis, James Lawniczak considers the Second Circuit's holding that an unsecured creditor has a valid claim under a prepetition indemnity agreement for the expenditure of postpetition attorneys' fees related to the litigation of issues under the underlying contract. The d
Schubert v. Lucent Techs. (In re Winstar Communications, Inc.), 554 F.3d 382 (3rd Cir. 2009)
Common sense dictates that a transaction is not at arms length when one of the transacting parties is coerced into purchasing inventory it does not need, does not have the cash to finance the purchase, and is forced out compliance with financial covenants by the purchase. So the Third Circuit held
Riker, Danzig, Scherer, Hyland & Perretti v. Official Committee of Unsecured Creditors (In re Smart World Technologies, LLC), 552 F.3d 228 (2d Cir. 2009)
In this Emerging Issues Analysis, author James Lawniczak looks at the Second Circuit's consideration of whether a fee request was pre-approved under Code section 328(a) and thus was not subject to the reasonable compensation determination of section 330. In a case of first impression, the court jo
Sternberg v. Johnston, 582 F.3d 1114 (9th Cir. Oct. 1, 2009)
In this Emerging Issues Analysis, the author looks at a decision from the Ninth Circuit that effectively creates a circuit split on the issue of whether attorney's fees are available not only for remedying a stay violation but also for the efforts in collecting damages for the violation. The Ninth
New Pre-Bankruptcy Procedures in Greece
As of 16 September 2007, a new Insolvency Code governs insolvency and restructuring in Greece. The Code strives to abandon the inefficiency and archaic obscurity of the old law and to institute an efficient and effective insolvency regime drawing on the most current international economic and lega
New Pleading Standards for Avoidance Actions in Bankruptcy Courts
Pleading standards in bankruptcy avoidance actions have historically been set extremely low. The standards were so low that practitioners seldom saw a motion to dismiss under Rule 12(b)(6). The rules have just changed.
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