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Texas Bankruptcy Court Allows Make-Whole Premiums, Post-Petition Interest on Unsecured Claims at Contractual Default Rate

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USA, Texas, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Title 11 of the US Code
"Time Is On My Side" — When a "Time of the Essence" Closing Date Keeps Rolling Like a Stone for 60 Days

The recent decision of the Bankruptcy Court for the Southern District of New York in In re AAGS Holdings LLC, Case No. 19-13029 (SMB) (Bankr. D. Del. Nov. 12, 2019), underscores the ability of debtors — and specifically, for purposes of this Client Alert, parties to real property purchase contracts — to take advantage of the Bankruptcy Code’s 60-day tolling period to get more time to close on a purchase despite a “time of the essence” ("TOE") closing deadline.

USA, New York, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Escrow, United States bankruptcy court, US District Court for the Southern District of New York
SDNY Bankruptcy Court Finds Bar Date Applies to Pension Fund’s Withdrawal Liability Claim Before Withdrawal Occurs

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The U.S. Bankruptcy Court for the Southern District of New York entered a decision confirming the applicability of the Court’s bar date order as it relates to a pension fund’s claim for withdrawal liability filed after the bar date, despite the fact that the withdrawal occurred after the deadline for filing proofs of claim.

What Happened?

USA, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Mutual fund, Investment funds, US District Court for the Southern District of New York
SDNY District Court Holds That Bankruptcy Courts Have Core Jurisdiction and Constitutional Adjudicatory Authority over Involuntary Third-Party Releases

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USA, New York, Capital Markets, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Res judicata and issue estoppel, US District Court for the Southern District of New York