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Bad facts, good law? Important new circuit-level guidance on Chapter 15 recognition and enforcement of foreign reorganization orders

Introduction

USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Debt, Title 11 of the US Code, Fifth Circuit
Supreme Court limits reach of non-Article III courts’ jurisdiction

On June 23, 2011, the US Supreme Court issued a narrowly-divided decision in Stern v. Marshall, limiting Bankruptcy Court jurisdiction over certain types of claims. The Court found that while the Bankruptcy Court was statutorily authorized to enter final judgment on a tortious interference counterclaim (as a core proceeding under 28 U.S.C. § 157(b)(2)(C)), it was not constitutionally authorized to do so.

USA, Insolvency & Restructuring, Litigation, Media & Entertainment, Latham & Watkins LLP, Bankruptcy, Fraud, Tortious interference, Standard of review, Constitutionality, US Constitution, Article III US Constitution, Supreme Court of the United States, Ninth Circuit, United States bankruptcy court
Beware of creditors bearing gifts: the Second Circuit’s recent decision in In re: DBSD North America, Inc. casts significant doubt on “gift” plans

On February 7, 2011 the United States Court of Appeals for the Second Circuit issued its eagerly awaited opinion in the consolidated appealIn re: DBSD North America, Inc., Docket Nos. 10-1175, 10-1201, 10-1352, 2010 U.S. App. LEXIS 27007.

USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Share (finance), Bankruptcy, Debtor, Unsecured debt, Dividends, Federal Reporter, Liquidation, Secured creditor, Second Circuit, United States bankruptcy court, First Circuit