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Restructuring

Avoidance Actions

Avoidance Actions, Case Overviews, Property of the Estate, Rules & Procedures

A Tale of Fraud and Overzealousness: How the Judicial Shrinkage of “Initial Transferee” Saved an Innocent Immigrant From a Corrupt Car Dealer and a Troublesome Trustee

Contributor(s)

Ronit J.
Berkovich

Chapter 13, Automatic Stay, Avoidance Actions, Breaking the Code, Case Overviews, Chapter 11 Trustees & Examiners, Jurisdiction & Appeals, Litigation Issues, Property of the Estate, Secured Claims, What We're Watching

Courts Begin to Wrestle with the Impact of City of Chicago, Illinois v. Fulton on a Debtor’s Ability to Recover Estate Property

Contributor(s)

Jennifer Brooks
Crozier

Avoidance Actions, Case Overviews, Chapter 15, What We're Watching

Avoiding Foreign Transfers Based on Foreign Law Claims: Norske Case Favors Flexible Approach to Safe Harbor Analysis in Chapter 15

Contributor(s)

Andriana
Georgallas

Avoidance Actions, Case Overviews, Chapter 15, What We're Watching

Avoiding Foreign Transfers Based on Foreign Law Claims: Fairfield Sentry Cases Illustrate Broad Scope of Safe Harbor in Chapter 15

Contributor(s)

Andriana
Georgallas

Avoidance Actions, Case Overviews, Chapter 11 Trustees & Examiners, Chapter 7 Trustees, Government, Lookback Period, What We're Watching

No Time Runs against the King (IRS): The Golden Creditor Rule and its Discontents

Avoidance Actions, Case Overviews, Litigation Issues, What We're Watching

Delaware Bankruptcy Court Weighs in: Debtors Are Not Excluded From Bankruptcy Code’s Definition of “Financial Participant” and Safe Harbor

Contributor(s)

Avoidance Actions, Case Overviews, Constitutional Law, Jurisdiction & Appeals, Litigation Issues, Property of the Estate

Fraudulent Transfer Claims Avoid State Sovereign Immunity, But Only If a Property Interest Exists Under State Law

Contributor(s)

Ronit J.
Berkovich

Avoidance Actions, Litigation Issues, What We're Watching

It’s (Still) Alive! The Second Circuit Throws the 546(e) Safe Harbor a Lifeline Post Merit Management

Contributor(s)

Alexander
Welch

Avoidance Actions, Case Overviews, Litigation Issues, What We're Watching

Safe Harbor Re-Opened? SDNY Revisits Merit Management

Contributor(s)

Avoidance Actions, Case Overviews

Going Once, Going Twice: Avoiding a Prepetition Foreclosure Sale in Chapter 11

Contributor(s)

Avoidance Actions, Case Overviews, Pre-Filing Considerations

A Check is Transferred When It's Honored, Not Delivered

Contributor(s)

Avoidance Actions, International

Extra-territorial Transfers Don’t Phone Home: Revisiting the Presumption Against Extraterritoriality in Ampal–American

Avoidance Actions, Financial Markets, Pre-Filing Considerations

Seventh Circuit Exposes Leveraged Buy-Outs to Avoidance Risk in FTI v. Merit Management

Avoidance Actions

District Court Denies Interlocutory Appeal of Protective Order

Avoidance Actions

When is Conduct Ordinary Enough to Constitute Conduct in the “Ordinary Course of Business”?

Avoidance Actions

Third Circuit Agrees, No Aggregation of Claims Among Creditors to Defeat Preference Minimum Thresholds

Contributor(s)

Avoidance Actions

Third Circuit Agrees That When it Comes to Fraudulent Transfers, There’s No Room for 20/20 Hindsight

Avoidance Actions, SIPA Proceedings

In Madoff Fraudulent Transfer Cases, Bankruptcy Court Focuses on Intent of the Transferees

Avoidance Actions, Jurisdiction & Appeals

Asserting Personal Jurisdiction Over Foreign Banks

Avoidance Actions

Seventh Circuit’s Warning to Landlords: Getting Out of Your Lease With a Distressed Company May Expose You to Bankruptcy Risk

Avoidance Actions

Sentinel Appeal Part I – Seventh Circuit Discusses Inquiry Notice

Avoidance Actions, International

Extraterritorial Transactions – a Viable Way to "Take the Money and Run"?

Avoidance Actions

Northern District of Illinois Examines Law on Fraudulent Transfer, Recharacterization and Equitable Subordination

Avoidance Actions

Another Case Involving a Truck, But Not to Worry – This One Is Not About Interest Rates!

Avoidance Actions

One Fewer Reason to Fear the Hague Convention – New York Bankruptcy Court Permits Mailing of Claim Objection to Foreign Claimants

Avoidance Actions

Making a Clean Break, Part II: Tenth Circuit Sheds Light on Reasonably Equivalent Value for Severance

Avoidance Actions

Making a Clean Break, Part I: Tenth Circuit Sheds Light on When Terminated Officer Ceases to Be Insider

Avoidance Actions

House Wins! 7th Circuit Holds that “Good Faith” Defense Under Section 550(b)(1) Applies to Casino in Fraudulent Transfer Action

Avoidance Actions

Safe No More? Court Vacates Opinion Safe Harboring REMIC Payments

Avoidance Actions, Chapter 15, Chapter 7 Trustees, Claims, Due Process Concerns, Financing, International, Litigation Issues, Lookback Period, Mass Torts

Lookback Period: Two Weeks

Avoidance Actions, Chapter 15, Claims, International

Bankruptcy Court Analyzes English and Luxembourgish Insolvency Law – Opts to Take a Cup of Tea With its Decision and Decline Luxembourg’s eau de vie1

Avoidance Actions, Case Overviews, Claims, Distressed Debt Funds, Due Process Concerns, Litigation Issues, Lookback Period, Rules & Procedures

Lookback Period: Eight Weeks (Part 4)

Avoidance Actions

“Ordinary” Doesn’t Always Mean “Often”: Tenth Circuit Holds that First-Time Transaction Can Qualify for the Ordinary Course of Business Exception under Section 547

Avoidance Actions, Contest

Announcing the Winner of the Weil Bankruptcy Blog First Annual Law Student Note Competition

Avoidance Actions, Chapter 11 Plans, Claims, Executory Contracts & Unexpired Leases, Financing, Jurisdiction & Appeals, Litigation Issues, Lookback Period, News, Professionals, Real Estate, Rules & Procedures, Subordination & Recharacterization

Lookback Period: Two Weeks

Avoidance Actions, Real Estate

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

Contributor(s)

Gabriel A.
Morgan

Avoidance Actions

Deprizio, Shmeprizio: A Waiver of Indemnification Can Shield an Insider Guarantor From Liability (at Least in the Ninth Circuit)

Avoidance Actions

Securitized Loan Payments Safe Harbored Under Section 546(e)

Assumption & Rejection, Avoidance Actions, Corporate Governance & Fiduciary Duties, Executory Contracts & Unexpired Leases

Bankruptcy Court Analyzes Preference and Fraudulent Transfer Claims as Applied to the Termination of a Lease

ABI Reform Commission, Avoidance Actions

ABI Chapter 11 Reform Commission Series: Avoidance Actions and Other Litigation Issues

Avoidance Actions, Financing, Subordination & Recharacterization

There’s a Thin Line Between Equity and Debt: Affiliates, Advances and Avoiding Recharacterization

Avoidance Actions, Financing, International

Free Trade, Comity, and the Bankruptcy Code

Avoidance Actions

Where’s the Beef? (Part II)

Avoidance Actions

Where’s the Beef? (Part I)

Avoidance Actions

No Protection in Ponzi Schemes: Utah Bankruptcy Court Limits Investors’ Ability to Retain Returns on Investments

Automatic Stay, Avoidance Actions, Jurisdiction & Appeals

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

Avoidance Actions

Double Dipping? Section 503(b)(9) and the New Value Defense to Preference Liability

Avoidance Actions

I Hear Nothing, I See Nothing, I Know Nothing: Third Circuit Says Transferee’s Knowledge Not Relevant to Establishing Fraudulent Transfer Claims

Avoidance Actions

Delaware Bankruptcy Court Weighs in on Subsequent New Value Circuit Split

Contributor(s)

Andriana
Georgallas

Avoidance Actions

Caveat Debtor: Liens Preserved Pursuant to Section 551 Subject to Defects Under State Law

Contributor(s)

Gabriel A.
Morgan

Avoidance Actions

Pass the Buck: Fourth Circuit Preserves the Mere Conduit Defense

Avoidance Actions

Ignorance Isn’t Always Bliss: Tenth Circuit Illustrates Limits of Good Faith and Subsequent Transferee Defenses Under UFTA

Automatic Stay, Avoidance Actions, Executory Contracts & Unexpired Leases, Throwback Thursday

A Spoonful of Sugar Helps the [UCC] Remedy Go Down: Recognition of Stoppage Rights in the Early Years of the Bankruptcy Code

Avoidance Actions

Ex-President Surely Feels Like a Room without a Roof: Happy Not to Be Deemed an Insider (Part II)

Contributor(s)

Andriana
Georgallas

Avoidance Actions

Ex-President Surely Feels Like a Room without a Roof: Happy Not to Be Deemed an Insider (Part I)

Contributor(s)

Andriana
Georgallas

Avoidance Actions

How Safe Is the Section 546(e) Safe Harbor? Part III: Risk to the Financial Markets

Avoidance Actions, Slice of the Pie, Valuation

Always Sunny In Adelphia – Bankruptcy Court Rejects DCF with Unreliable Projections, Drops Some Valuation Knowledge

Avoidance Actions

Section 547(c)(2)(B): Congress Meant What It Said and It Said What It Meant, This Test is Objective One-Hundred Percent!

Avoidance Actions

How Safe Is the Section 546(e) Safe Harbor? Part II: Financial Intermediaries and Financial Institutions

Avoidance Actions, Financing

“Release the Kraken” II: For Want of a Lien, the Botticelli Could Be Lost. . .

363 Sales, Avoidance Actions, Valuation

“Keep Calm and Carry On”: “Panicked” Asset Sale Not Inconsistent With Good Faith Finding for Constructive Fraudulent Transfer Analysis

Avoidance Actions, Setoffs

Whose Value is It Anyway? When it Comes to Three-Party Relationships and Preference Liability, It May Not Matter.

Avoidance Actions

Eleventh Circuit Holds That Trustee Cannot Recover Tax Payments IRS Already Refunded

Avoidance Actions

“Moo”-ving Away from Omegas: Seventh Circuit Opens the Barn Door for Use of Constructive Trusts as a Preference Defense

Avoidance Actions

Telling Clients to “Just Keep Paying” Won’t Cut It – Bankruptcy Court Claws Back Legal Fees as Constructively Fraudulent Transfers

Avoidance Actions

I Didn’t Know, I Swear! Section 548(c)’s Good-Faith Defense to Fraudulent Transfer Actions

Avoidance Actions, Claims, Jurisdiction & Appeals

Distributions to Cash Out Shareholders of Target Company in an LBO are Subject to Fraudulent Transfer Lawsuits in State Court

Avoidance Actions

Health Insurer to Bankruptcy Trustee: I’d Prefer You Not Avoid That Transfer

Avoidance Actions, Releases & Exculpations

The Fraudulent-Transfer Risk of Intangible Consideration

Avoidance Actions

It’s Settled: You Can Take Your Money and Run, but You Can’t Hide from Section 547(b)

Avoidance Actions

Did I Do That? When It Comes to Affiliation, Family Matters. (So, Too, May the Definition of “Corporation.”)

Contributor(s)

Andriana
Georgallas

Avoidance Actions, Slice of the Pie, Valuation

Unreasonably Small Capital

Avoidance Actions

It’s (Postpetition) Payback Time in the Third Circuit: Payments to a Creditor After a Bankruptcy Filing Should Not Be Considered When Applying the New Value Defense to a Preference

Avoidance Actions

A Matter of Time: Delaware Bankruptcy Court Considers the Proper Date to Determine Secured Status in Preference Actions

Avoidance Actions

Shifting Assets, Shifting Burdens: “Indirect Benefits” and the Burden of Production in Fraudulent Transfer Cases

Avoidance Actions, Claims

Third Circuit Holds that Transferred Trade Claims Remain Subject to Disallowance under Section 502(d)

Avoidance Actions

Just How Ordinary is Ordinary? Raising the “Ordinary Course of Business” Defense to Preference Actions in One-Off Transactions

Avoidance Actions, Valuation

You’re Insolvent, but Not That Insolvent

Avoidance Actions

Avoid the Statute of Limitations on Avoidance Actions: Relate-Back!

Avoidance Actions

Transferee Wins Settlement Battle, Loses Avoidance War

Contributor(s)

Andriana
Georgallas

Avoidance Actions

How Safe Is the Section 546(e) Safe Harbor? Part I: Quebecor

Avoidance Actions, Chapter 11 Plans, Secured Claims

I Thought I Went to Law School to Avoid Math: Calculating Recovery in a Chapter 7 Liquidation in the Context of a Preference Action

Avoidance Actions, Valuation

Delaware Bankruptcy Court Finds No Value in Litigation Trustee’s Method of Valuing Going Concern of Debtor

Avoidance Actions

There’ve Been Happ[ier] Days: Ponzi Scheme, But Not Fraudulent Transfer

Contributor(s)

Andriana
Georgallas

Automatic Stay, Avoidance Actions, Jurisdiction & Appeals, Tax Issues

A Majestic Reversal: Third Circuit Holds Tax Status Is Not Estate Property; Revocation Cannot Be Avoided

Avoidance Actions, Claims, Financing

Score One for Federalism – State Law, Recharacterization, and Fraudulent Conveyances in the Ninth Circuit

Avoidance Actions

It’s Tough to Justify a Non-Ordinary Payment… At Least in the Southern District of New York

Avoidance Actions

Benefits from Subchapter S Election Constitute Reasonably Equivalent Value for Dividend Payment by Insolvent Debtor

Avoidance Actions, Jurisdiction & Appeals, Stern Files

Stern Files: Back to the Supreme Court?

Avoidance Actions

Slipping into the Safe Harbor: When Is a Supply Contract a Protected “Forward Contract”?

Avoidance Actions, Financing

“Show Me the Money (or Money’s Worth)” — Divided Court of Appeals Finds New Value Defense Protects Surety’s Use of Loan Proceeds

Avoidance Actions

Sour Grapes: This Deal May Have Been Corked But Can’t Be Put Back in the Bottle – Court Rules Fire Sale of Vineyard was Unconscionable but not “Fraudulent”

Avoidance Actions

Under Construction: Further Broadening the Securities Settlement Payment Safe Harbor Under Section 546(e) of the Bankruptcy Code

Avoidance Actions, Jurisdiction & Appeals, Stern Files

Stern Files: The Circuit that Originally Gave Us Stern Creates the First Stern Circuit Split

Avoidance Actions, Jurisdiction & Appeals, Stern Files

Ninth Circuit Weighs In On Stern v. Marshall and Fraudulent Transfer Actions OR Stern v. Marshall (Yet Again): Are We All Just Making a Mountain Out of a Mole Hill?

Avoidance Actions, Chapter 7 Trustees

Can’t Touch This: The Release that Saved a Creditor from a Preference Action

Avoidance Actions

But Judge, Operating in the Red was Ordinary Course for this Debtor!

Avoidance Actions, Claims

Armor-Plated Agreements – Second Circuit Protects Risk Allocation in Bankruptcy Claim Trader’s Contract

Avoidance Actions

Don’t Mess With Taxes: Court Holds that Debtors’ Payment of Taxes Owed by a Third Party Constitutes “Reasonably Equivalent Value”

Avoidance Actions

Southern District Affirms Judge Peck’s Quebecor Decision, Broadly Interpreting “Settlement Payments” as Including Payments to Redeem Outstanding Notes

Avoidance Actions, Jurisdiction & Appeals, Stern Files

Sixth Circuit First Court of Appeals to Address Fraudulent Transfers in Light of Stern

Avoidance Actions, Utilities

Safe From Avoidance: Electricity Requirements Contracts

Avoidance Actions

A Fraud By Any Other Name…

Avoidance Actions, Jurisdiction & Appeals, Litigation Issues, Stern Files

A Scatological Analysis of Bankruptcy Court Jurisdiction and Authority After Stern v. Marshall

Avoidance Actions, Claims

Buyers Beware in Delaware—Transferred Claims Remain Subject to Disallowance Under Section 502(d)

Avoidance Actions, Jurisdiction & Appeals

TOUSA’s Transeastern Lenders File Petition for Rehearing En Banc in Eleventh Circuit

Avoidance Actions, Case Overviews, Claims, Energy Sector, Financing

Dynegy Global Settlement Approved

Avoidance Actions, Throwback Thursday, Valuation

Mmm mmm (still) good! Five Years Later, the Third Circuit’s Decision in VFB LLC v. Campbell Soup Company Shows No Signs of Spoilage

Avoidance Actions

Eleventh Circuit Upholds Bankruptcy Court’s Fraudulent Transfer Ruling in TOUSA

Avoidance Actions, Executory Contracts & Unexpired Leases

Sellers Celebrate: Delaware Bankruptcy Court Confirms that Assumption and Assignment of an Executory Contract Offers Protection from Preference Claims

Avoidance Actions, Jurisdiction & Appeals

Southern District Stern Review: Rakoff Rules that Fraudulent Transfer Actions Belong in Bankruptcy Court, But Only for Reports and Recommendations

Avoidance Actions

Eleventh Circuit Holds that Indenture’s “No-Action” Clause Bars Fraudulent Transfer Actions by Individual Noteholders

Avoidance Actions, Chapter 11 Plans, Involuntary Petitions, Secured Claims

2011: A Reminder to Secured Creditors to Take Nothing for Granted

Contributor(s)

Ronit J.
Berkovich

Avoidance Actions, Jurisdiction & Appeals

Making Tough Choices: Fifth Circuit Allows Debtor to Bring Avoidance Action After Creditors Have Already Been Paid and Issues Decision on “Applicable Law”

Avoidance Actions

Losing Control: Court Rejects “Control Test” for Determining if Debtor Has Interest in Dividends it Paid

Avoidance Actions

Two Means Two: Delaware Bankruptcy Court Confirms that the Two-Year Look-Back Period for Fraudulent Transfers Is Non-Negotiable

Avoidance Actions, Claims

Have Your Cake and Eat It Too: Defendants in Insider Preference Actions under State Law May Doubly Benefit from the New Value Defense

Avoidance Actions

Keep Your Claws Off My Principal: Eleventh Circuit Weighs in on Recovery of Fraudulent Transfers in Ponzi Schemes

Avoidance Actions, Jurisdiction & Appeals

Back to Bankruptcy Court: District Court Denies Motion to Withdraw the Reference Even Though It Finds that Bankruptcy Court Lacked Authority to Finally Decide Claims

Avoidance Actions

District Court’s Dismissal of Madoff Trustee’s Constructively Fraudulent Claims Against Customers Reaffirms a “Settled” Principle

Avoidance Actions

Members May Be Insiders of an LLC Debtor in the Seventh Circuit

Avoidance Actions

It’s Settled — the Securities Safe Harbor Has Been Expanded

Avoidance Actions, Claims

The Only Things Certain in Life: Death, Taxes, and…the Finality of Foreclosure Sales?

Avoidance Actions, Energy Sector, Financing

Be Careful What You Draft for: Delaware Chancery Court Blesses Dynegy’s Reorganization

Contributor(s)

Gabriel A.
Morgan

Avoidance Actions

Second Circuit Affords Safe Harbor Protections to Redemption of Commercial Paper

Avoidance Actions

Bet You’ve Never Heard This One Before, Your Honor . . . Why Pleading Constructive Fraud May Be Just as Hard – If Not Harder – Than Pleading Actual Fraud in the Bankruptcy Context

Avoidance Actions

New York and Delaware Are Now at Odds over Application of Section 546(e)’s “Safe Harbor” to Private Stock Transactions

Avoidance Actions

District Court Quashes TOUSA Fraudulent Transfer Decision

Avoidance Actions

Attorneys Beware! Good Faith Required for “Mere Conduit” or Control Exception to Initial Transferee Liability

Avoidance Actions

Trustees Beware! Securitization Trustees May Be Liable for Fraudulent Transfers

Avoidance Actions

Equitable Subrogation as a Defense to a Preference Action? Maybe…But Don’t Bank on It!

Avoidance Actions

Early Payments to Trade Creditors May Fall Outside the “Ordinary Course of Business” Defense to a Preference Action

Avoidance Actions

District Court Tries to Make Sense of the Good Faith Defense under Section 548(c)