'Loan-to-own' strategy may lead to limitation on credit-bidding

On April 14, in In re Free Lance-Star Publishing, 512 B.R. 798 (Bankr. E.D. Va. 2014), the U.S. Bankruptcy Court for the Eastern District of Virginia considered the objection of Chapter 11 debtors to a secured creditor's right to credit bid at a sale of the debtors' assets pursuant to 11 U.S.C. Section 363.

Filed under:
USA, Virginia, Insolvency & Restructuring, Litigation, Duane Morris LLP, Debtor, Personal property, Secured creditor, United States bankruptcy court, US District Court for Eastern District of Virginia
Authors:
Rudolph J. Di Massa, Jr. , James G. Schu, Jr.
Location:
USA
Firm:
Duane Morris LLP
Discharge Exception for Fraud by Corporate Insider Is More Broad Than Circuit Court of Appeals Had Thought

On May 16, 2016, the Supreme Court of the United States handed down its opinion in Husky International Electronics, Inc. v. Ritz, Case No. 15-145.

Filed under:
USA, Insolvency & Restructuring, Litigation, White Collar Crime, Duane Morris LLP, Debtor, Fraud, Misrepresentation, SCOTUS, Fifth Circuit
Authors:
Rudolph J. Di Massa, Jr.
Location:
USA
Firm:
Duane Morris LLP
Second Circuit's significant decision could impact liquidating trustees

In the case of United States of America v. Edward P. Bond, No. 12-4803 (2d. Cir. August 13, 2014), the United States Court of Appeals for the Second Circuit (the "Second Circuit") issued a decision that could have far-reaching effects on how liquidating chapter 11 bankruptcy cases will be handled in the future.

Filed under:
USA, Insolvency & Restructuring, Litigation, Tax, Duane Morris LLP, Liquidation, Internal Revenue Service (USA), Second Circuit, United States bankruptcy court
Authors:
Lawrence J. Kotler , William C. Heuer , Rudolph J. Di Massa, Jr. , Rosanne Ciambrone , Ron Oliner
Location:
USA
Firm:
Duane Morris LLP