A new, bipartisan bankruptcy bill in the U.S. Senate purports, according to an official document, to:

On 9 July 2024, the Federal Court in Abdul Rashid Mohamad Isa v PTT International Trading Pte Ltd [2024] 5 MLRA 603 (“Abdul Rashid”), with a panel comprising Nallini Pathmanathan FCJ, Hasnah Mohammed Hashim FCJ and Abdul Karim Abdul Jalil FCJ, held inter alia that a Creditor’s Petition could be withdrawn without the consequences of bringing the entire bankruptcy proceedings to an end. Hurry Up

Executive Summary:

Resumen Ejecutivo:

In an opinion issued on August 16, 2024 (In re Robertshaw US Holding Corp., Bankr. S.D. Tex., Case No. 24-90052, Docket No.

The general rule is that claims of the bankruptcy estate against third parties (e.g., preference claims and tort claims) can be sold to third parties in a § 363 sale.[Fn. 1]

However, a recent opinion from the U.S. Fifth Circuit Court of Appeals discusses whether a state’s champerty law impairs a § 363 sale.[Fn. 2] 

Four U.S. Supreme Court justices (Kagan, Kavanaugh, Roberts and Sotomayor) provide the following summary of their Purdue Pharmadissent in the Purdue Pharma case.

Wrong & Devastating

Today’s five-justice majority opinion is wrong on the law and devastating for more than 100,000 opioid victims and their families:

. . . In such circumstances, sealing the indictment “would undermine the purpose of having a statute of limitations at all.”

Introduction

Over the years, I’ve heard lots of people say, “Bankruptcy abuse is a huge problem,” as a self-evident and undeniable proposition.

But here’s the thing. Debtors who try to abuse the bankruptcy system rarely get away with it. That’s because there are too many gatekeepers—and no debtor can fool them all!

The gatekeepers are debtor’s counsel, creditors and their attorneys, U.S. Trustees, bankruptcy courts, and appellate courts.

This is the first of a multi-part series of articles on how the gatekeepers prevent abuse. This article focuses on debtor’s attorney.

A Massachusetts Bankruptcy Court’s recent appellate decision in Blumsack v. Harrington (In re Blumsack) leaves the door open for those employed in the cannabis industry to seek bankruptcy relief where certain conditions are met.