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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
Leave to appeal granted in Indalex

The Supreme Court of Canada granted leave to appeal yesterday in Indalex Limited (Re). This is an appeal from the Ontario Court of Appeal (2011 ONCA 265). Please see our Financial Services and Banking E-news Bulletin dated April 25, 2011, for a detailed summary of the decision of the Ontario Court of Appeal.

Canada, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Heenan Blaikie LLP, Debtor, Supreme Court of Canada, Court of Appeal for Ontario