Judge Glenn of the U.S. Bankruptcy Court for the Southern District of New York recently granted class claim certification to a group of former MF Global employees seeking payment on account of unpaid accrued vacation time.
When a key customer files bankruptcy, one of the first questions you will face is whether to keep doing business or end the relationship. (Another key question is making sure your pre-bankruptcy claim gets on file or otherwise acknowledged.) Since companies in bankruptcy (called debtors or debtors in possession) usually cannot survive without trade support, they often reach out to suppliers to ask for trade terms, or at least a steady supply of goods, after a Chapter 11 reorganization bankruptcy is filed.
As we noted last month, the U.S. Supreme Court’s unanimous decision in Executive Benefits Insurance Agency v. Arkison, Case No. 12-1200, 573 U.S. ___ (2014), affirmed the constitutional authority of bankruptcy courts to issue proposed findings of fact and conclusions of law to federal district courts in connection with “Stern claims”.
American Apparel has been on the watch-list for those who follow distressed retailers for quite a while. The company, known for its provocative advertising and American-made apparel, has approximately 249 retail stores in the U.S. and 19 other countries.
On Monday, the U.S. Supreme Court refused to take up an appeal brought by Irving Picard, the court-appointed bankruptcy trustee charged with recovering assets on behalf of Madoff’s bankruptcy estate and distributing them to victims of Madoff’s massive Ponzi scheme.
It’s been several years since I last posted about objections to bankruptcy claims, and the topic is so important to creditors that it’s time to revisit it.
While the best men’s national soccer teams from around the world are battling in Brazil to be crowned the World Cup champion, some club teams in the U.S. have their sights set on more modest goals.
Recoveries from fraudulent conveyance lawsuits can be a significant source of recovery for creditors of bankruptcy estates. Because a plaintiff seeking to avoid a prepetition transfer as constructively fraudulent must demonstrate that the debtor was insolvent or inadequately capitalized at the time of the challenged transfer, valuation analyses that support allegations of insolvency are critical.
The Order Re Summary Judgment issued on June 11, 2014 by Judge Charles R. Breyer of the U.S. District Court for the Northern District of California in the Heller Ehrman LLP bankruptcy case may prove to be a knock-out punch against “unfinished business” claims by insolvent or bankrupt law firms and their trustees.
Trademark Licenses At Risk. I have written a number of times on the blog about the impact of bankruptcy on trademark licenses, with a special focus on the risk that trademark licensees face if their licensors file bankruptcy.