Introduction
Background
Third Circuit's majority opinion
Dissent
Analysis
Successor claims as property of the estate

Introduction
Background
Release of non-debtors in US bankruptcy proceedings
Recognition and enforcement of foreign non-debtor releases
Limits on bankruptcy jurisdiction

Introduction
Shifting balance between international arbitration and bankruptcy
Arbitration clauses in US bankruptcy courts
Implications of Stern v Marshall

Introduction

Introduction
Federal pre-emption
Section 546(e) safe harbour
Tribunecase and decision
Lyondell: background

Background
Points and counterpoints
Comment


Background

Former shareholders in leveraged buyouts may be sued by the estate representative or by creditors to recover funds paid to them for their shares as fraudulent transfers under federal or state law if the debtor subsequently files for bankruptcy.

In preparing a statement supporting the determination that recusal from a bankruptcy proceeding was unnecessary, U.S. Bankruptcy Court Judge Richard E. Fehling quoted Master Sergeant Georg Hans Shultz from the television sitcom Hogan’s Heroes: “I KNOW NOTHING!  NOTHING!”

Criminal defendants facing onerous restitution obligations as part of their sentence might contemplate a bankruptcy filing, in the hope of staving off the restitution obligation. In a case of first impression, the Second Circuit recently considered whether the Bankruptcy Code’s automatic stay provision halts a defendant’s obligation to pay restitution and firmly closed the door on that potential gambit.

Introduction

Introduction