Ninth Circuit B.A.P. Drove Down Bayshore Boulevard and Rendered a Decision on the Merits of a Section 363(m) Appeal in the Face of New Facts

“We’re riding down the boulevard,
We’re riding through the dark night,
With half the tank and empty heart,
Pretending we’re in love, when it’s never enough, nah.”

Filed under:
USA, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Real Estate, Weil Gotshal & Manges LLP, Ninth Circuit
Authors:
Andriana Georgallas
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Second Circuit Wyly’ing Out? Asset Freeze Order Doesn’t Violate the Automatic Stay

Recently, in SEC v. Miller, No. 14-4261-cv (2d Cir. Dec.

Filed under:
USA, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Weil Gotshal & Manges LLP, Securities fraud, Second Circuit
Authors:
Andriana Georgallas
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Avoiding Foreign Transfers Based on Foreign Law Claims: Fairfield Sentry Cases Illustrate Broad Scope of Safe Harbor in Chapter 15

A series of related decisions issued by the United States Bankruptcy Court for the Southern District of New York in the ongoing Fairfield Sentry U.S. redeemer litigation — Fairfield Sentry II,1Fairfield Sentry III,2 and Fairfield Sentry IV3 — provide insight into, among other things, the interplay between the safe harbor provision of section 546(e)4 of the Bankruptcy Code (the “Safe Harbor”) and chapter 15.

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Authors:
Andriana Georgallas
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Delaware District Court Affirms Decision Holding Triangular Setoffs Are Not Permitted

The United States District Court for the District of Delaware recently affirmed a Delaware bankruptcy court case that held that the mutuality requirement of section 553(a)1The case declined to find mutuality in a triangular setoff between the debtor, a parent entity that owed the debtor money, and that entity’s subsidiary, which was a creditor.2

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, US District Court for District of Delaware
Authors:
Ronit J. Berkovich , Andriana Georgallas
Location:
USA
Firm:
Weil Gotshal & Manges LLP