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Third Circuit Court of Appeals Establishes New Analysis for Cramdown Cases

Alerts and Updates

The Third Circuit’s ruling in In re Tribune provides important insight on what it means for a plan to unfairly discriminate.

USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, Third Circuit
First CIRC.: no 'reasonably equivalent value' in exchange for tuition payments

In In re Palladino, 942 F.3d 55 (1st Cir. 2019), the U.S. Court of Appeals for the First Circuit addressed whether a debtor receives “reasonably equivalent value” in exchange for paying his adult child’s college tuition. The Palladino court answered this question in the negative, thereby contributing to the growing circuit split regarding the avoidability of debtors’ college tuition payments for their adult children as constructively fraudulent transfers.

Background

USA, Capital Markets, Insolvency & Restructuring, Litigation, Duane Morris LLP, US Securities and Exchange Commission, Title 11 of the US Code, United States bankruptcy court, First Circuit, U.S. Court of Appeals
State Administration of Taxation clarifies levying value-added tax on asset restructuring

《国家税务总局关于纳税人资产重组有关增值税问题的公告》(02/18/2011)

The State Administration of Taxation released the Announcement onIssues Concerning Value-Added Tax Relevant to Taxpayers’ Assets Restructuring (the “VAT Announcement”) on February 18, 2011. The effective date of the Announcement is March 1, 2011.

China, Insolvency & Restructuring, Tax, Greenberg Traurig LLP, Value added tax, Debt, State Administration of Taxation (China)