Introduction
Separable assets
Exercising data recovery right
Other applications
Comment

Introduction

Le 11 juin 2013, la Chambre des députés luxembourgeoise a voté une loi instaurant un droit de revendication en faveur de la personne qui a confié des biens meubles "incorporels" non fongibles à une entreprise qui est tombée en faillite (le dossier parlementaire peut être téléchargé ici). Il ressort des travaux préparatoires qu'une des hypothèses visées est la revendication de données et fichiers stockés via une solution "cloud" (informatique dématérialisée) chez un prestataire tiers.

On 11 June 2013, the Luxembourg Chamber of Deputies voted in favour of a law introducing a right to claim back "intangible" and non-fungible movable assets from a bankrupt company (the parliamentary file can be downloaded

Introduction
Facts
Decision
Comment


Introduction

In a recent decision¹, the United States Bankruptcy Court for the Southern District of New York found the standard for sealing under § 107 of the Bankruptcy Code was not met and declined to seal a settlement agreement, despite requests from the Chapter 7 trustee (the "Trustee") and the counterparties to the settlement agreement to do so. Confidentiality was an essential condition of the settlement. In addition, the United States trustee supported the motion to seal, arguing that the standard for sealing had been met.

Afdeling bestuursrechtspraak van de Raad van State 13 februari 2013, LJN: BZ1261

In haar uitspraak van 13 februari 2013 heeft de Afdeling bestuursrechtspraak van de Raad van State (de "Afdeling") uitleg gegeven over de positie van een curator bij naleving van de voor een inrichting geldende milieuwetgeving.

Congress enacted the ordinary course of business defense to the avoidance of preferential transfers to protect recurring, customary transactions in order to encourage the continuation of business with and the extension of credit to a financially distressed customer.

Bankruptcy Code Section 503(b)(9) litigations have sometimes yield "shocking results". There is no pun intended here. This article discusses a recent case where the United States Bankruptcy Court for the District of Montana waded into the spine tingling issue of whether electricity is a good that is subject to Section 503(b)(9) administrative priority status.

Large businesses and organizations that self-insure their legally mandated insurance requirements often use “fronting” policies in which the policyholder must reimburse insurers for all losses and expenses paid on the policyholder’s behalf. These policyholders must furnish substantial collateral to secure repayment, typically, enough to pay many years’ worth of actual and anticipated claims. This can amount to hundreds of millions of dollars, and typically exacerbates cash flow and balance sheet problems for policyholders under financial stress.