Although the Weil Bankruptcy Blog generally focuses on developments in the chapter 11 context, from time to time we cover cases outside of the bankruptcy world that may interest our readers. Among the challenges restructuring professionals frequently face are analyzing bond indentures, identifying parties’ respective rights to determine whether potential transactions are permissible, and invoking their clients’ rights to payment and other protections. As we have seen in the recent decisions in
In Del. Trust Co. v. Energy Future Intermediate Holding Co. LLC (In re Energy Future Holdings Corp.), 527 B.R. 178 (Bankr. D. Del. 2015), the bankruptcy court ruled that, even though a chapter 11 debtor repaid certain bonds prior to maturity, a "make-whole" premium was not payable under the plain terms of the bond indenture because automatic acceleration of the debt triggered by the debtor's chapter 11 filing was not a "voluntary" repayment.
Rhode Island recently amended its Credit for Reinsurance Act to include two provisions regarding credits for reinsurance relating to the insolvency of the ceding insurer.
In the seemingly never-ending post-Stern quest to elucidate what constitutes a “core” versus “non-core” matter – and exactly what impact that distinction has on the bankruptcy court’s authority to enter a final judgment – the Bankruptcy Court for the Southern District of New York recently set out to answer the question of whether a claim for intentional infliction of emotional distress properly is cons
The U.S. District Court for the District of Delaware recently denied the debtors’ attempt to assume a software license agreement while simultaneously rejecting related agreements with the same vendor. In Huron Consulting Svcs., LLC v. Physiotherapy Holdings, Inc. (In re Physiotherapy Holdings, Inc.), Chief Judge Leonard P.
On September 24, Southern District of Florida District Court Judge James I. Cohn issued an opinion affirming an order approving the settlement of a debtor’s breach of fiduciary duty, corporate waste, and mismanagement claims against its former directors and officers barring non-debtors’ claims against the former directors and officers entered by Southern District of Florida Bankruptcy Court Judge Raymond B.
Prior to September 1, 2015, procedures in consumer chapter 13 bankruptcy cases varied greatly across the divisions of the Middle District of Florida, creating vastly different workflows for creditors and attorneys with cases pending in multiple divisions across the District. (The Middle District of Florida comprises four divisions, including Orlando, Tampa, Jacksonville and Fort Myers.) As part of the U.S.
Over the course of almost a decade of litigation as part of an individual debtor’s chapter 7 bankruptcy case, the bankruptcy judge, in In re Tucker, made “half a dozen or so” comments about the debtor’s demeanor, credibility, and litigation strategy, including referring to the debtor as a “crook,” “dirty bird,” and a “skillful manipulator.” The debtor filed a motion for recusal, arguing the judge
The Winding-Up Committee (“WUC”) of the failed Icelandic bank Kaupthing hf. (“Kaupthing”) announced that Oct. 2, 2015 (“Transfer Bar Date”) will be the last date for the filing of Claim Transfer Request Forms (“CTRFs”) for transferring claims filed against Kaupthing. Parties to unsettled claims trades that require assignment of title must submit their CTRFs to Kaupthing’s transfer agent, Epiq Bankruptcy Solutions LLC, or Epiq Systems Limited (“Epiq”) on or before Oct. 2, 2015.