Supreme Court holds oral argument in Schwab v. Reilly: analyzing a trustee’s duty to object to a facially valid exemption to avoid the risk that an undervalued asset be deemed “fully exempt”?

United States Supreme Court

Washington, D.C.

November 3, 2009

Filed under:
USA, Insolvency & Restructuring, Litigation, Wiley Rein LLP, Tax exemption, Bankruptcy, Debtor, Statutory interpretation, Interest, Consideration, SCOTUS, United States bankruptcy court, Third Circuit, Trustee
Authors:
Rebecca L. Saitta
Location:
USA
Firm:
Wiley Rein LLP
Case study: in re Dynegy Holdings

On March 9, 2012, Susheel Kirpalani, the court-appointed examiner for Dynegy Holdings LLC (Dynegy), concluded that the debtor's transfer of certain assets to its parent company, Dynegy Inc., prior to its bankruptcy filing may be recoverable as a fraudulent transfer. Kirpalani further determined that Dynegy's board of directors breached its fiduciary duty in approving the asset transfer. Dynegy Inc. vigorously disputes the examiner's findings.

Filed under:
USA, Insolvency & Restructuring, Wiley Rein LLP, Bond (finance), Bankruptcy, Debtor, Fiduciary
Authors:
Rebecca L. Saitta
Location:
USA
Firm:
Wiley Rein LLP
Dynegy examiner's report identifies potential fraudulent transfer and prompts request for Chapter 11 trustee

On March 9, 2012, Susheel Kirpalani, the court-appointed examiner for Dynegy Holdings, LLC (Dynegy), concluded that the debtor's transfer of certain assets to its parent company, Dynegy, Inc., prior to its bankruptcy filing may be recoverable as a fraudulent transfer. Kirpalani further determined that Dynegy's board of directors breached its fiduciary duty in approving the asset transfer. Dynegy, Inc. vigorously disputes the examiner's findings.

Filed under:
USA, Insolvency & Restructuring, Litigation, Wiley Rein LLP, Debtor, Fraud, Fiduciary, Trustee
Authors:
Rebecca L. Saitta
Location:
USA
Firm:
Wiley Rein LLP