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High Court Broadens the Definition of “Actual Fraud” under Section 523(a)(2)(A)

The Supreme Court’s Decision:

USA, Insolvency & Restructuring, Litigation, White Collar Crime, Bryan Cave Leighton Paisner (Bryan Cave), Bankruptcy, Debtor, Fraud, Misrepresentation, Common law, Fifth Circuit
10th Circuit holds that first time transactions fall within 11 U.S.C. 547(c)(2), ordinary course of business defense

In a decision that surprised many, the United Stated Circuit Court of Appeals for the Tenth Circuit (the “10th Circuit Court of Appeals”) affirmed decisions finding that a payment made on account of a first time transaction between a debtor and creditor can qualify for the ordinary course of business defense under 11 U.S.C. § 547(c)(2).

USA, Banking, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), US Code
Pension Protection Fund changes following Olympic Airlines case

The regulatory amendments drawn up by the Secretary of State for Work and Pensions following the outcome in Trustees of Olympic Airlines SA Pension &Life Assurance Scheme v Olympic Airlines SA have been drafted narrowly and may end up protecting no one other than the beneficiaries of the Olympic Airlines pension scheme.

The issue

European Union, Greece, United Kingdom, Aviation, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Mayer Brown, Department for Work and Pensions (UK), Pension Protection Fund, Pensions Act 2004 (UK)
Pension protection fund changes following Olympic Airlines case

The regulatory amendments drawn up by the Secretary of State for Work and Pensions following the outcome in Trustees of Olympic Airlines SA Pension & Life Assurance Scheme v Olympic Airlines SA have been drafted narrowly and may end up  protecting no one other than the beneficiaries of the Olympic Airlines pension scheme. 

The issue

United Kingdom, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Mayer Brown, Department for Work and Pensions (UK), Pension Protection Fund