On Monday, October 6, 2014, the U.S. Supreme Court issued an order denying the petition for a writ of certiorari in the Jaffe v. Samsung case, also known as the Qimonda case.
Section 503(b)(9) of the Bankruptcy Code provides creditors with an administrative expense priority claim for value of goods that were received by the debtor in the ordinary course within the 20 days prior to the bankruptcy filing Because section 503(b)(9) affords administrative priority status to an otherwise unsecured prepetition claim, it is strictly construed by courts. Nowhere was this more apparent than in the bankruptcy court’s recent decision in
Senior Associate, Sarah Drinkwater, Associate, Tim Logan and Paralegal, Erin Donald discuss the recent case of AAA Financial Intelligence Ltd (in liquidation) ACN 093 616 445 [2014] NSWSC 1004.
The facts
The applicants were the Liquidators of AAA Financial Intelligence Ltd (in liquidation) (the Company).
In Akers (as a joint foreign representative of Saad Investments Company Ltd) (in official liquidation) (a company registered in the Cayman Islands) v DCT [2014]FCAFC 57 the Federal Court of Australia recently upheld an earlier landmarkdecision concerning the proper construction and interpretation of the Model Lawon Cross Border Insolvency on the United Nations Commission on InternationalTrade Law, made part of Aust
In a recent decision from the Delaware bankruptcy court, Judge Christopher S. Sontchi joined the debate over the interpretation of section 547(c)(4)(B) of the Bankruptcy Code, which sets forth the new value defense to a preference claim.
Last year, the 112-year old retailer J.C. Penney was regularly in the news – and it was rarely good. The stock was in a free-fall, in the process of dropping from about $20 per share in May 2013 to a low of a little more than $6 dollars per share in late October. Media reports were grim, focusing on the attempt and failure of the former Apple executive Ron Johnson to turn the business around. But now, as we approach the critical holiday season, J.C.
In connection with a contentious restructuring, Judge Drain of the Bankruptcy Court for the Southern District of New York, ruled recently that certain lenders to Momentive Performance Materials Inc. (Case No. 14-22503) had no enforceable claim to a so-called “make-whole” premium.
For some time, there has been a split among the circuit courts as to whether the Bankruptcy Code permits non-consensual releases of non-debtor entities under a plan of reorganization.
The approach of the courts to public examinations conducted by liquidators has in recent times arguably tended towards granting increasing liberty to liquidators in the scope of their examinations.
In Stewart v Atco Controls Pty Ltd (In Liquidation) [2014] HCA 15, the High Court of Australia recently delivered a decision which has confirmed the priority of a Liquidator’s lien over the interests of a secured creditor.
The facts