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Supreme Court to Decide Constitutionality of U.S. Trustee Fees in Chapter 11 Cases

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, US Congress, Supreme Court of the United States
The bankruptcy Pegasus: stalking horse agreements in aviation

The bankruptcy Pegasus: stalking horse agreements in aviation

USA, Aviation, Insolvency & Restructuring, BCLP, Airlines & airports
Section 363 Sales — Is Section 363(m) of the Bankruptcy Code Jurisdictional?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP
The Hong Kong approach where debtors lodge a petition for their own bankruptcy - how to prevent abuse of process

Summary

If a person presents a petition for their own bankruptcy (“self-petition”), are there any safeguards to ensure that the self-petition is genuine, as opposed to a cynical device by the person to buy themselves time to pay, or to give themselves some negotiating position with their creditors?

This interesting question was considered in a recent Hong Kong judgment.

Hong Kong, Insolvency & Restructuring, Litigation, BCLP, Court of First Instance (Hong Kong)
Undisclosed Arrears Come Back to Bite Bank

Federal Rule of Bankruptcy Procedure 3002.1 was implemented to protect debtors from unanticipated deficiencies in residential mortgage payments following a chapter 13 discharge, and the Bankruptcy Court for the District of Puerto Rico’s recent opinion in In re Feliciano Figueroa[1] illustrates how detrimental the rule can be to inattentive mortgage holders.

USA, Banking, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Not So Fast! How Poor Planning Can Doom Your Chapter 11 Filing

A Texas bankruptcy court’s decision earlier this year to dismiss the National Rifle Association’s (“NRA”) chapter 11 bankruptcy case as a bad faith filing illustrates the perils of a poorly planned chapter 11 filing, and highlights the need, even in crisis situations, to establish solid objectives and develop a sound strategy prior to seeking relief under the Bankruptcy Code. In re Nat’l Rifle Ass’n of Am., 628 B.R. 262 (Bankr. N.D. Tex. 2021).

USA, Texas, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Corporate governance
Oh, and Section 105, as well—Limitations on the Bankruptcy Court’s Equitable Powers

Section 105 of the U.S. Bankruptcy Code, titled “Power of Court,” is often cited and used as a “catch-all” provision when requesting certain relief or when a bankruptcy court enters an order granting (or denying) certain relief not prescribed by a particular provision of the Bankruptcy Code. That section provides that a “court may issue any order, process, or judgment that is necessary or appropriate to carry out the provisions of this title . . .

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Mediation
Eleventh Circuit Announces Differing Standards for Approval of Third Party Releases

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Eleventh Circuit
Bankruptcy Litigation Practice Tip: The Pending Proceeding Rule

The Bankruptcy Protector

Most bankruptcy practitioners are familiar with the intentionally broad scope of discovery under Bankruptcy Rule 2004. However, there are limits to this discovery and the “pending proceeding” rule can be a useful tool to limit the scope of discovery in the appropriate circumstances.

Bankruptcy Rule 2004

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Restructuring Support Agreements

The Bankruptcy Protector

A Means to Eliminate Uncertainty in the Reorganization Process

USA, Insolvency & Restructuring, Nelson Mullins Riley & Scarborough LLP