In the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“2005 Act”), Congress amended the Bankruptcy Code and Title 28 of the U.S.
A bankruptcy trustee exercising her or his avoidance powers under Chapter 5 of the Bankruptcy Code may seek to recover the avoidably transferred property (or its value) from “the initial transferee,” “the entity for whose benefit such transfer was made” and “any immediate or mediate transferee of such initial transferee.”[1] Despite the authorization to seek recovery from multiple sources, “[t]he trustee is entitled to only a sin
Our May 22 post reported on the Supreme Court’s May 20 decision in Mission Product Holdings, Inc. v.
It always amazes me when, after more than a half-century of Uniform Commercial Code (“UCC”) jurisprudence, an issue one thinks would arise quite commonly appears never to have been decided in a reported case. Such an issue was recently decided by the U.S. Court of Appeals for the Ninth Circuit in an adversary proceeding in the Pettit Oil Co. Chapter 7 case.[1]
In the recent case of Re M.D.Y. Construction Limited [2018] IEHC 676, an Interim Examiner made an application pursuant to section 541 of the Companies Act 2014 (the “2014 Act”) to have proposals for a scheme of arrangement confirmed by the High Court. Interestingly, the application was made before the Interim Examiner’s appointment had been confirmed by the Court.
Section 541 of the 2014 Act provides, inter alia, that the report of an Examiner shall be set down for approval by the Court as soon as may be after receipt of the report by the Court.
Can another vain attempt to mitigate a $1.5 billion mistake provide the occasion for a thorough review of the doctrine of earmarking? It did for Southern District Bankruptcy Judge Martin Glenn in the long tail on the General Motors bankruptcy case.
Our January 22, May 23, June 28,
Although it may be difficult to define precisely what an “executory contract” is (with the Bankruptcy Code providing no definition), I think most bankruptcy lawyers feel how the late Supreme Court Justice Potter Stewart famously felt about obscenity--we know one when we see it. Determining that a patent license was executory in the first place was an issue in the Fifth Circuit’s recent decision in RPD Holdings, L.L.C. v.