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A Creditor’s Perspective: The Bankruptcy Trustee

The Bankruptcy Protector

Friend or Foe?

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Recent Sixth Circuit BAP Case Shows Risks To Lawyers Arising From Violations Of Discharge Injunction

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Injunction, Sixth Circuit
Chapter 13: What can I do as a creditor’s attorney?

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
The Sea Pines Bankruptcy Case

The Bankruptcy Protector

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy
Second Circuit Reverses Lower Courts, Preserves Madoff Trustee's Ability To Pursue $3.75 Billion of Stolen Customer Property

On Aug. 30, 2021, in a significant decision that paves the way for additional substantial recoveries for the victims of Bernard L. Madoff’s Ponzi scheme, the Second Circuit Court of Appeals preserved the ability of Irving H. Picard, SIPA Trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (BLMIS), to pursue $3.75 billion of stolen customer property currently in the hands of participants in the global financial markets.

USA, Insolvency & Restructuring, Litigation, BakerHostetler, Second Circuit
Bankruptcy Venue — Between a Rock and a Hard Place

The Bankruptcy Protector

USA, New York, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Coronavirus
Venue Provisions Fail to Provide Relief in Smaller Dollar Preference Cases

The Bankruptcy Protector

Almost two years ago, the Small Business Reorganization Act of 2019 (SBRA) was enacted. While the provisions regarding the new Subchapter V reorganization received the most press (streamlined chapter 11 for businesses with debts of no more than $7,500,000), the SBRA also included other important changes to the Bankruptcy Code. Among these additional changes was an increase in the venue threshold under 28 U.S.C. § 1409(b) to $25,000.00 as follows:

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP
Confusion Involving Constitutionality of U.S. Trustee Fee Increase

The Bankruptcy Protector

In 2017, Congress enacted an amendment imposing a sharp increase in quarterly fees owed to the United States Trustee program by many chapter 11 debtors. Expectedly, the constitutionality of that decision has been challenged on several grounds, and there is considerable disagreement among the circuits.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Supreme Court of the United States
It Is, In Fact, Expensive To Be Erika Jayne

The Bankruptcy Protector

“It’s expensive to be me / Looking this good don’t come for free.” —Erika Jayne, “XXpen$ive”

Real Housewives of Beverly Hills cast member Erika Girardi, more commonly known as Erika Jayne, is the latest example of just how powerful (and expensive) an involuntary bankruptcy proceeding can be.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Small Business Administration (USA)
Important Lessons from the DOJ's First Civil Action for CARES Act Loan Fraud

On January 12, 2021, the Department of Justice (the “DOJ”) settled its first civil action for alleged fraud against the Paycheck Protection Program (the “PPP”) – the primary lending program under the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act for small businesses negatively impacted by the COVID-19 pandemic.

USA, Banking, Insolvency & Restructuring, Litigation, BakerHostetler, Coronavirus, Paycheck Protection Program, CARES Act 2020 (USA), Financial Institutions Reform, Recovery, and Enforcement Act 1989 (USA)