Fulltext Search
A Pending Supreme Court Ruling Can’t Create a Claim that Doesn’t Currently Exist

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US District Court for Western District of Pennsylvania
Seventh Circuit Denies Trustee a Second Bite at the Avoidance Apple

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Seventh Circuit
Setoff and Recoupment in Bankruptcy: A Brief Overview

This article provides a brief overview of the somewhat related doctrines of setoff and recoupment in the Chapter 11 context. Setoff is recognized in the Bankruptcy Code to offset the claims of creditors and the debtor in a bankruptcy proceeding. Recoupment is a common law doctrine of similar effect. Sometimes overlooked by debtors and creditors alike, these doctrines can be of critical consequence in the settling of accounts between a creditor and the bankrupt debtor.

Setoff

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
The IRS Withdraws Proposed ‘Net Value’ Regulations

The IRS announced in July that it has withdrawn proposed regulations (the net value regulations) that provided guidance regarding corporate formations, reorganizations and liquidations of insolvent corporations. Those regulations, which were proposed in 2005, required the exchange (or, in the case of the liquidation of a subsidiary into its parent, the distribution) of “net value” in order for the transaction to qualify for nonrecognition treatment under the Internal Revenue Code (the Code).

The Net Value Regulations

Net Value in 332 Liquidations

USA, Insolvency & Restructuring, Kramer Levin Naftalis & Frankel LLP, Internal Revenue Service (USA)
Third Circuit Applies More Flexible Standard for WARN Exemption

The Bottom Line:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Worker Adjustment and Retraining Notification Act 1988 (USA), Third Circuit
Delaware Bankruptcy Court Approves Separate Classification and Disparate Gifted Consideration Between General Unsecured Creditors

The Bottom Line

USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
Ninth Circuit Joins “Minority” of Courts That Allow Property to be Sold in Bankruptcy Free and Clear of Leaseholds

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Ninth Circuit, Seventh Circuit
Illinois District Court Maintains a High Threshold for Equitable Subordination of Insider Secured Loans

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US District Court for Northern District of Illinois
Funds Talk: August 2017

Topics covered in this issue include:

USA, District of Columbia, Capital Markets, Corporate Finance/M&A, Derivatives, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US Securities and Exchange Commission, Commodity Futures Trading Commission (USA), Investment Advisers Act 1940 (USA), DC Circuit
Suppliers Beware: Two Recent Cases (in Third Circuit and Delaware) Hold that Debtor Must Physically Possess Goods Within Statutory Period To Sustain Administrative Priority Under Section 503(b)(9)

The Bottom Line

USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Third Circuit