Second Circuit Slams the Door Shut on a Loophole in Section 546(e) of the Bankruptcy Code

In a unanimous decision arising out of the Tribune Media Company bankruptcy cases, a panel of the Second Circuit held that the safe harbor under section 546(e) of the Bankruptcy Code, which precludes avoidance of certain transfers by a

Filed under:
USA, Insolvency & Restructuring, Litigation, White Collar Crime, Weil Gotshal & Manges LLP, Federal preemption, Bankruptcy, Debtor, Leveraged buyout, Debtor in possession, Title 11 of the US Code, Second Circuit
Location:
USA
Firm:
Weil Gotshal & Manges LLP
The Saga Continues: A brief update on the EFIH First Lien Make Whole Litigation

As avid blog readers know, we’ve posted extensively on make whole issues, including several articles covering the ongoing make whole litigations in the chapter 11 cases of Energy Future Holdings and its affiliated debtors, which can be found here, 

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
Authors:
Jessica Liou
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Let Me Be Clear: Fifth Circuit Holds Generic Plan Release Language Lacks Specificity to Discharge Creditor’s Claims Against Officer of the Debtor

When it comes to releases, plan proponents generally agree the broader the better.  But when plan proponents include far reaching and all-encompassing language in hopes of securing a release for every possible claim under the sun, they sometimes overlook the very claims for which they may actual want a release.  This was the case in a recent decision, 

Filed under:
USA, Employment & Labor, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Fifth Circuit
Authors:
Matthew Goren
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Lookback Period: Six Weeks (Part 3)

Supreme Court to Resolve Circuit Split on Interpretation of Discharge Exception

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Location:
USA
Firm:
Weil Gotshal & Manges LLP
What the future holds for make-whole claims in bankruptcy (Redux): examining the Energy Future Holdings EFIH second lien make-whole decision

Are you feeling a bit of déjà vu?  We certainly are.  As readers know, here at the Weil Bankruptcy Blog we’ve written extensively about make-wholes.  In two previous posts, What the Future Holds for Make-Whole Claims in Bankruptcy: Examining the Energy Future Holdings EFIH First Lien Make-Whole Decision – 

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy
Authors:
Jessica Liou
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Please, SIR, the plaintiffs want some more: the Southern District of Ohio weighs in on the treatment of self-insured retentions in bankruptcy

Whether an insurer can refuse to provide coverage on the grounds that the bankrupt insured has not paid a self-insured retention (SIR) is often litigated during a bankruptcy case.  Recently, in Sturgill v.

Filed under:
USA, Ohio, Insolvency & Restructuring, Insurance, Litigation, Weil Gotshal & Manges LLP
Location:
USA
Firm:
Weil Gotshal & Manges LLP
The interesting relationship between veil piercing and fraudulent transfer law

In American Federated Title Corp. v. GFI Management Services, Inc., the United States District Court for the Southern District of New York 

Filed under:
USA, New York, Insolvency & Restructuring, Litigation, White Collar Crime, Weil Gotshal & Manges LLP, Fraud
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Judge Scheindlin rules in Caesars that Trust Indenture Act bars “core” impairments; certifies the issue to the Second Circuit or what’s the deal with the caesars parent guarantee litigation? [part I]

“Render unto Caesar the things that are Caesar’s, and unto [CEC] the things that are [CEC’s] [?]” – Matthew 22:21 (as revised)

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Second Circuit
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Tenth Circuit declares “no recharacterization without justification”

Recharacterization: an overview

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Tenth Circuit
Location:
USA
Firm:
Weil Gotshal & Manges LLP
In re Jevic Holding Corp. part I: Third Circuit authorizes structured dismissals in limited circumstances

The Third Circuit’s recent holding in In re Jevic Holding Corp., raised a number of intriguing topics for us bankruptcy nerds so we could not resist taking a closer look at one of the issues presented in the case – structured dismissals.  If you are not familiar with the concept, you are probably not alone, as the use of a structured dismissal as a means to exit bankruptcy is relatively uncommon.  Although the ma

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP
Location:
USA
Firm:
Weil Gotshal & Manges LLP