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KB toys: don’t play with clouded claims

In a recent decision by the influential Third Circuit Court of Appeals, In re KB Toys Inc., 2013 U.S. App. LEXIS 23083 at *17 (3d Cir. Nov. 15, 2013), the Court decided that “the cloud on the claim” stemming from a preferential payment made to the original claimant continues with the claim, which then could be disallowed.

USA, Insolvency & Restructuring, Litigation, Mintz, Third Circuit
Supreme Court holds oral argument in Schwab v. Reilly: analyzing a trustee’s duty to object to a facially valid exemption to avoid the risk that an undervalued asset be deemed “fully exempt”?

United States Supreme Court

Washington, D.C.

November 3, 2009

USA, Insolvency & Restructuring, Litigation, Wiley Rein LLP, Tax exemption, Bankruptcy, Debtor, Statutory interpretation, Interest, Consideration, Trustee, Supreme Court of the United States, United States bankruptcy court, Third Circuit