Fulltext Search
Court torpedoes FC regulations lifeboat for floating charge

In the recent judgment of Gray and others v G-T-P Group Limited, the High Court considered whether a charge fell within the scope of the Financial Collateral (No.2) Regulations 2003 (“the Regulations”) and would not therefore be void against a liquidator, despite not being registered with the Registrar of Companies.

United Kingdom, Banking, Insolvency & Restructuring, Litigation, DMH Stallard LLP, Retail, Collateral (finance), Beneficiary, Liquidator (law), HM Treasury (UK), Trustee
Withdrawal liability payments are not deferred pending arbitration when accelerated due to insolvency

CENTRAL STATES SOUTHEAST AND SOUTHWEST AREAS PENSION FUND v. O'NEILL BROS. TRANSFER & STORAGE (August 31, 2010)

USA, Arbitration & ADR, Employee Benefits & Pensions, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Employee Retirement Income Security Act 1974 (USA), Liability (financial accounting), Liquidation, Default (finance), Promulgation, Pension Benefit Guaranty Corporation
Proof of falsity and materiality are not required at class certification stage

SCHLEICHER v. WENDT (August 20, 2010)

Conseco was a large financial services company traded on the New York Stock Exchange. It filed for bankruptcy in 2002 and successfully reorganized. This securities-fraud claim was filed against Conseco managers who are alleged to have made false statements prior to the bankruptcy. Then-District Judge Hamilton (S.D. Ind.) certified a class. Defendants appeal.

USA, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Kelley Drye & Warren LLP, Bankruptcy, Private equity, Security (finance), Fraud, Class action, Causality, US Congress, New York Stock Exchange, Fifth Circuit
Bankruptcy court's interpretation of reorganization plan it confirmed receives deferential treatment

IN RE: AIRADIGM COMMUNICATIONS, INC. (August 4, 2010)

USA, Insolvency & Restructuring, Litigation, Telecoms, Kelley Drye & Warren LLP, Bankruptcy, Collateral (finance), Standard of review, Estoppel, Federal Communications Commission (USA), Ericsson, Supreme Court of the United States, United States bankruptcy court
Pro-rata calculation of pre-petition portion of tax refund was reasonable

IN RE: MEYERS (August 2, 2010)

USA, Insolvency & Restructuring, Litigation, Tax, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Debt, Liability (financial accounting), Legal burden of proof, Prima facie, Pro rata, Trustee, United States bankruptcy court
Taxbuyer's interest in property is not "perfected" under fraudulent transfer statute until deed is recorded

SMITH v. SIPI, LLC (July 27, 2010)

USA, Illinois, Insolvency & Restructuring, Litigation, Real Estate, Tax, Kelley Drye & Warren LLP, Bankruptcy, Interest, Limited liability company, Deed, Remand (court procedure), Conveyancing, Title 11 of the US Code, United States bankruptcy court
Contingent fee obligation based on "amount recovered" does not apply to losses avoided

IN RE: SOLIS (July 9, 2010)

USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Contingent fee, Trustee, United States bankruptcy court
Bankruptcy court's order denying a plan objection is not appealable

IN RE: MCKINNEY (June 23, 2010)

USA, Illinois, Insolvency & Restructuring, Litigation, Real Estate, Tax, Kelley Drye & Warren LLP, Bankruptcy, Property tax, Debt, Deed, United States bankruptcy court
United States Trustee is a "party in interest" under Bankruptcy Code § 1129(d)

IN RE: SOUTH BEACH SECURITIES (May 19, 2010)

USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Security (finance), Interest, Good faith, Frivolous litigation, Internal Revenue Service (USA), Trustee, United States bankruptcy court
Reorganization plan's definition of a term need not coincide with the statutory definition of the same term

IN RE: ALTHEIMER & GRAY (April 15, 2010)

USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debt, Adoption, Liquidation, United States bankruptcy court