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Questioning Willful Violations of the Automatic Stay: Third Circuit Gives University the Third Degree

A recent decision by the Court of Appeals for the Third Circuit affirming the decisions of both the bankruptcy and district courts, provides an interesting analysis of “willful” violations of the automatic stay under Section 362 of the Bankruptcy Code. See California Coast Univ. v. Aleckna (In re Aleckna), No. 20-1309 (3d Cir. 2021).

USA, Insolvency & Restructuring, Litigation, Cullen and Dykman LLP, U.S. Court of Appeals
Supreme Tax Court Abolishes German Restructuring Privilege

Cancellation of debt a key element of most restructurings generally triggers taxable income. The German tax authorities had issued an administrative decree (the "Tax Restructuring Decree" - Sanierungserlass), however, declaring that, upon the satisfaction of certain requirements and conditioned on forfeiture of any loss carry forwards, the cancellation of debt income ("CODI") would not be taxed.

Germany, Insolvency & Restructuring, Litigation, Tax, Weil Gotshal & Manges LLP
School specialty, Inc., files bankruptcy in Delaware seeking to sell substantially all of its assets

Introduction

USA, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Debtor
Furniture retailer, Carl's Patio, files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Retail
Penson Worldwide files for bankruptcy in Delaware

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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Liquidation, United States bankruptcy court, US District Court for District of Delaware
Preference complaints filed in RG Steel bankruptcy

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USA, Insolvency & Restructuring, Fox Rothschild LLP, Bankruptcy, United States bankruptcy court
Bankruptcy trustee in ultimate electronics files more preference actions

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USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Title 11 of the US Code
Overseas Shipholding Group files for bankruptcy in Delaware

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Shipping & Transport, Fox Rothschild LLP, Bankruptcy, Liquefied natural gas, United States bankruptcy court
First Place Bank Holding Co. files for bankruptcy in Delaware

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USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Holding company, Office of the Comptroller of the Currency (USA), United States bankruptcy court
Raser Technologies trustee files preference complaints

Introduction

USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy