Lyondell Bankruptcy Court holds that safe harbors do not prohibit creditors from asserting state law constructive fraudulent transfer claims

On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. S.D.N.Y. Jan.

Filed under:
USA, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Leveraged buyout, Title 11 of the US Code, Second Circuit, United States bankruptcy court
Authors:
Mark C. Ellenberg , Michael A. Stevens
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP
In re Hostess Brands, Inc.: Southern District of New York Bankruptcy Court refuses to send cash collateral dispute to arbitration

On January 7, 2013, the Judge Robert D. Drain of the United States Bankruptcy Court for the Southern District of New York held that a dispute concerning the debtors’ use of cash collateral was not subject to arbitration, notwithstanding a broad arbitration clause in the parties’ underlying agreement, because the decision to allow a debtor to use cash collateral constituted a “core” issue and was a fundamental aspect of the bankruptcy process. In re Hostess Brands, Inc., No. 12-22052 (RDD), 2013 WL 82914 (Bankr. S.D.N.Y. Jan. 7, 2013).

Background

Filed under:
USA, New York, Arbitration & ADR, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Bankruptcy, Debtor, Collateral (finance), Arbitration clause, Debtor in possession, United States bankruptcy court
Authors:
Michael A. Stevens , Michele C. Maman
Location:
USA
Firm:
Cadwalader Wickersham & Taft LLP