Fans of Star Trek: The Next Generation will well-remember that a constant threat to the crew of the Starship Enterprise was The Borg, a multi-species civilization that operated as a collective consciousness, with all individuality extinguished. When confronting any other civilization, The Borg Collective always announced: “We are the Borg. Your biological and technological distinctiveness will be added to our own. Resistance is futile.”
“Whoever is careless with the truth in small matters cannot be trusted with important matters.”
– Albert Einstein
For those interested in a quick read with some juicy facts and egregious acts by the relevant practitioners, check out the recent opinion in Church Joint Venture, L.P. v. Blasingame (In re Blasingame), where the Sixth Circuit Court of Appeals held that an order denying approval of a proposed settlement agreement was not a final order susceptible to appeal as of right.
The Second Circuit Court of Appeals heard oral arguments in Marblegate Asset Management LLC v. Education Management Corp. on May 12, 2016. One might have thought from the courtroom’s overflow crowd that it was the opening argument in a mob trial, but this is a case about a bond indenture. At issue is whether an out-of-court debt restructuring that did not amend the indenture’s principal and interest terms, but that effectively precluded the noteholders’ ability to be repaid, violated § 316(b) of the Trust Indenture Act (TIA).
Does the bankruptcy filing of a limited liability company without the approval of its “Special Member,” the secured lender serving as “blocking director,” render that filing infirm as unauthorized and subject to dismissal? Not necessarily, held the United States Bankruptcy Court for the Northern District of Illinois in a
Depending on the nature of its business, a debtor may encounter issues associated with the Perishable Agricultural Commodities Act (“PACA”), a statue designed to protect sellers of perishable produce. Recently, in Kingdom Fresh Produce, Inc. v.
Forgot to Get a Court Order Approving a Postpetition Loan? It May Not Matter
In a chapter 15 decision, In re Daebo International Shipping Co., Judge Michael E.
Chapter 15 of the Bankruptcy Code was introduced more than ten years ago to “to provide effective mechanisms for dealing with cases of cross-border insolvency.” It incorporates the Model Law on Cross-Border Insolvency (the “Model Law”) promulgated by the