When a bankrupt company’s most valuable assets include consumer information, a tension arises between bankruptcy policy aimed at maximizing asset value, on the one hand, and privacy laws designed to protect consumers’ personal information, on the other.

The RadioShack bankruptcy case has already drawn the attention of both state and federal regulators for potential privacy violations, and now the company faces a new issue: $43 million worth of unused gift cards.

Texas Attorney General Ken Paxton launched an adversary proceeding in the bankruptcy case seeking a declaratory judgment that any unused gift cards should receive priority up to $2,775 per card under Bankruptcy Code Section 507(a)(7). RadioShack gift cards did not expire and the face of the cards did not disclose an expiration date, the AG told the court.

Will Congress Finally Act?

This is the fourth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. We discuss here the Commission’s efforts to require that debtor’s management act in a more transparent fashion. For copies of this or any prior articles about the Commission, please contact any BakerHostetler bankruptcy attorney.

This is the fourth in a series of Alerts regarding the proposals made by the American Bankruptcy Institute Commission to Reform Chapter 11 Business Bankruptcies. We discuss here the Commission’s efforts to require that debtor’s management act in a more transparent fashion. For copies of this or any prior articles about the Commission, please contact any BakerHostetler bankruptcy attorney.

The latest turn in the ongoing Petters bankruptcy saga came on June 11, when U.S. Bankruptcy Judge Gregory Kishel issued a 46-page order examining 2012 amendments to the Minnesota Uniform Fraudulent Transfer Act (MUFTA).

This week, the Weil Bankruptcy Blog premieres a new series, “Lookback Period.”  In these entries, we will periodically review and summarize the hot topics on which we have been writing over the last couple of weeks.  We thought this might be an easy way on a summer Friday (or a rainy weekend) to catch up on what you might have missed in the Weil Bankruptcy Blog.

More Momentive, This Time From the District Court

Bankruptcies and restructurings involving partners and partnerships1 raise a number of unique tax issues. While the Internal Revenue Service (the “IRS”) has provided guidance with respect to a number of these issues, a surprising number of unresolved issues remain. The first part of this outline summarizes the state of the law with respect to general tax issues that typically arise in connection with partner and partnership bankruptcies and restructurings. The balance of the outline discusses tax issues that arise under Subchapter K when troubled partnerships are reorganized. II.

This is the fifth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog.  We have concluded that a hypothetical U.S.-based bitcoin exchange likely would not constitute a stockbroker or a 

On June 29, 2015, Baha Mar Ltd, the development company behind a $3.5 billion Bahamian resort and its affiliated debtors, filed for chapter 11 bankruptcy protection in the U.S. Bankruptcy Court in the U.S. District Court of Delaware.  Attached here is a copy of the petition.  Debtors offer the declaration of Thomas M. Dunlap in support of their first day pleadings.

The Supreme Court has not handled its recent major bankruptcy decisions well. The jurisdictional confusion engendered by its 2011 decision in Stern v.