Three years ago, in Stern v.
The United States Court of Appeals for the Eleventh Circuit (the “Eleventh Circuit”) has become the first circuit court to extend sections 1692e and 1692f of the Fair Debt Collection Practices Act (“FDCPA”) to proofs of claim filed in a bankruptcy case, ruling that a debt collector is prohibited from filing a proof of claim on debt that is barred by the applicable state statute of limitation. In Crawford v. LVNV Funding, LLC, et al.
Judge Jed S. Rakoff of the Southern District of New York last week ruled that the U.S. Bankruptcy Code does not permit a bankruptcy trustee to recover foreign transfers. Specifically, Judge Rakoff refused to allow Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (“BLMIS”), to recoup monies initially transferred from BLMIS to non-U.S.
On June 27, 2014, the Fourth Circuit issued its second opinion in the National Heritage Foundation, Inc.
The Eighth Circuit recently issued an opinion in the Interstate Bakeries Corporation bankruptcy case reversing its previous holding that a perpetual royalty-free trademark license constituted an executory contract that could be assumed or rejected in bankruptcy.1 The Eighth Circuit, in a r
The Supreme Court has issued two opinions on the subject of bankruptcy court authority and jurisdiction in recent years. The first opinion, Stern v. Marshall, 564 U.S. _, 131 S.Ct. 2594 (2011) was a 5-4 split from 2011 that roiled the bankruptcy waters by raising many questions about the constitutionality of the jurisdiction and authority Congress has provided to bankruptcy courts. The more recent opinion— Executive Benefits Insurance Agency v. Bellingham, Chapter 7 Trustee of Estate of Bellingham Insurance Agency, Inc.,___ U.S. _, No.
The recent depression in the maritime shipping industry served as the catalyst for many shipping companies to restructure. During the past few years, a number of foreign-based shipping companies have sought protection from creditors in U.S. Bankruptcy Courts—with varying degrees of success.
On June 9, 2014, the United States Supreme Court addressed an issue left open in Stern v. Marshall.1 Instead of bringing clarity to procedural confusion created by Stern, the Court’s opinion in Executive Benefits Insurance Agency v.
The U.S. Supreme Court yesterday, in Executive Benefits Insurance Agency v. Arkinson, limited somewhat the ramifications of its landmark opinion two years ago in Stern v.
On May 23, 2014, the Federal Trade Commission announced that the FTC’s Bureau of Consumer Protection sent a letter to the court overseeing the bankruptcy proceedings for ConnectEDU Inc. (“ConnectEDU”), an education technology company, warning that the proposed sale of the company’s assets raises privacy concerns.