Earlier this week, George L.

Introduction

Introduction

Introduction

Last week, Visteon Corporation began filing preference complaints against hundreds of current and former creditors of the company. This post will look briefly at the nature of Visteon’s business, why the company filed for bankruptcy, as well some of the likely “next steps” now that the company has filed its preference complaints.

The Bankruptcy Filing

Recently, over 180 adversary actions were filed in the MPC Computers bankruptcy. The adversary actions fall generally in to two categories - preference actions filed by MPC's Committee of Unsecured Creditors and breach of contract actions filed by MPC. This post will look briefly at why MPC filed for bankruptcy and discuss what may happen next now that the adversary actions are underway.

Background on the MPC's Business and Events Leading to Bankruptcy

Earlier this month, I submitted a post looking at an Opinion in the Eclipse Aviation bankruptcy. In the Eclipse Opinion, Judge Walrath discussed the subject matter jurisdiction of the Bankruptcy Court. Specifically, the Court looked at whether certain claims brought by a plaintiff fell within the Court's "related to" jurisdiction.

On February 1, 2010, the United States Bankruptcy Court for the District of Delaware revised its Local Rules. A clean copy of the Local Rules are available here.