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Court of Appeal summaries (December 6- 11)

Hello again for another week,

Canada, Employment & Labor, Family, Healthcare & Life Sciences, Insolvency & Restructuring, Legal Practice, Litigation, Non-profit Organizations, Private Client & Offshore Services, Real Estate, Blaney McMurtry LLP
U.S. Supreme Court addresses authority of federal bankruptcy courts to enter final orders and judgments

The world may end in fire and ice but, at least for now, it will not end in the bankruptcy court.[1]

USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, United States bankruptcy court
Second Circuit's significant decision could impact liquidating trustees

In the case of United States of America v. Edward P. Bond, No. 12-4803 (2d. Cir. August 13, 2014), the United States Court of Appeals for the Second Circuit (the "Second Circuit") issued a decision that could have far-reaching effects on how liquidating chapter 11 bankruptcy cases will be handled in the future.

USA, Insolvency & Restructuring, Litigation, Tax, Duane Morris LLP, Liquidation, Internal Revenue Service (USA), Second Circuit, United States bankruptcy court
Second Circuit ruling appears to limit ability of U.S. Bankruptcy Courts to assist foreign debtors

 

 

USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, Debtor, Discovery, US Code, Title 11 of the US Code, Second Circuit, United States bankruptcy court
Supreme Court offers some financiers protection, creates new risks for others, in its decision on Sun Indalex, LLC v. United Steelworkers

The Supreme Court of Canada, in a decision that has implications for borrowers and lenders alike, particularly where pension funds are involved, has raised some new hurdles for the country’s banks and their business customers and, at the same time, has bolstered protection for lenders of last resort who finance insolvent companies.

The court’s decision in Sun Indalex Finance, LLC v. United Steelworkers, issued earlier this year, addresses critical questions in insolvency law regarding pension funds and DIP financing. 

Canada, Ontario, Banking, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Blaney McMurtry LLP, Debtor, Liquidation, Debtor in possession, United Steelworkers, Bankruptcy and Insolvency Act 1985 (Canada)
Second Circuit establishes relevant time period for center of main interests determination under chapter 15 of the Bankruptcy Code

 

In Morning Mist Holdings Limited v. Krys (In re Fairfield Sentry Limited), Case No. 11-4376, 2013 WL 1593348 (2d Cir.

British Virgin Islands, USA, Insolvency & Restructuring, Litigation, Duane Morris LLP, Liquidation, Title 11 of the US Code, Second Circuit, United States bankruptcy court, Fifth Circuit