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Second Circuit joins chorus on inapplicability of Bankruptcy Code Section 502(d) to administrative claims
2009-12-17

The Second Circuit Court of Appeals recently issued its decision on a question of first impression before the court: whether section 502(d) of the Bankruptcy Code applies to administrative claims arising under section 503(b) of the Bankruptcy Code. See, generally, ASM Capital, L.P. v. Ames Dept. Stores, Inc. (In re Ames Dept. Stores, Inc.), 582 F.3d 422 (2d Cir. 2009).

Filed under:
USA, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Bankruptcy, Debtor, Federal Reporter, Default judgment, Liquidation, Conveyancing, Title 11 of the US Code, Second Circuit, Ninth Circuit, United States bankruptcy court, Fifth Circuit, Trustee
Authors:
Nicholas J. Brannick
Location:
USA
Firm:
Squire Patton Boggs
View Original Article
Agreement to submit to a foreign jurisdiction: Can it be implied or inferred?
2016-03-14

In Vizcaya Partners Ltd v Picard and another, the Privy Council recently held that anagreement to submit to the jurisdiction of a foreign court can arise through an implied term but there must be actual agreement (or consent). However, simply agreeing that an agreement should be governed by foreign law did not amount to agreement to the corresponding jurisdiction.

Filed under:
Gibraltar, United Kingdom, USA, Insolvency & Restructuring, Litigation, RPC, Default judgment
Location:
Gibraltar, United Kingdom, USA
Firm:
RPC
View Original Article
Judgment creditor collaterally estopped by default judgment against insured
2013-05-20

The United States District Court for the Northern District of Georgia, applying Georgia law, has held that a default judgment against an insured in a rescission action precluded any subsequent recovery under the policy by a judgment creditor of the insured. Old Republic Nat’l Title Ins. Co. v. Hartford Accident & Indem. Co., 2013 WL 1943427 (N.D. Ga. May 9, 2013).

Filed under:
USA, Georgia, Insolvency & Restructuring, Insurance, Litigation, Wiley Rein LLP, Consent decree, Default judgment, Estoppel
Location:
USA
Firm:
Wiley Rein LLP
View Original Article
Bank's lack of diligence results in denial of late claim
2011-05-25

COMMODITY FUTURES TRADING COMMISSION v. LAKE SHORE ASSET MANAGEMENT LTD. (May 11, 2011)

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Share (finance), Shareholder, Fraud, Asset management, Default judgment, Commodity market, Pro rata, Commodity Futures Trading Commission (USA)
Location:
USA
Firm:
Kelley Drye & Warren LLP
View Original Article
Court adopts "purpose" test to determine whether loan is "educational"
2011-03-07

BUSSON-SOKOLIK v. MILWAUKEE SCHOOL OF ENGINEERING (February 10, 2011)

Filed under:
USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Costs in English law, Waiver, Debt, Default judgment, Bad faith, Frivolous litigation, Bankruptcy discharge, United States bankruptcy court
Location:
USA
Firm:
Kelley Drye & Warren LLP
View Original Article
Bankruptcy Court Can Enter Default Judgment Against Foreign Defendants in an Adversary Proceeding
2018-07-23

On Jun 29, 2018, Judge Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York issued an opinion in which he granted a motion for entry of default judgment against foreign adversary proceeding defendants. Peter Kravitz v. Deacons (In re Advance Watch Company, Ltd.), Case No. 17-01137 (MG).

Filed under:
USA, Insolvency & Restructuring, Litigation, Cole Schotz PC, Default judgment, United States bankruptcy court
Location:
USA
Firm:
Cole Schotz PC
View Original Article
Decision in Custom Food Products looks at requirements for service by mail
2010-12-09

Those not familiar with the Federal Rules of Bankruptcy Procedure are often surprised to learn that service by mail is sufficient in a bankruptcy proceeding. Federal Rule of Bankruptcy Procedure 7004(b)(3) authorizes service on a corporation (foreign or domestic) within the United States by first class mail as follows:

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Default judgment, Liquidation, Bank of America, United States bankruptcy court, Trustee
Authors:
L. Jason Cornell
Location:
USA
Firm:
Fox Rothschild LLP
View Original Article
Decision in in re: Donna K. Brady holds: officers aren't contractors
2011-05-25

Summary

In an 11 page opinion published May 18, 2011, Judge Shannon ruled that, in the context of a motion to dismiss, the officer of a corporation, which is itself a contractor, is not also a contractor by virtue of her position within the corporation. Judge Shannon’s opinion is available here (the “Opinion”).

Background

Filed under:
USA, Company & Commercial, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Debtor, General contractor, Fraud, Fiduciary, Federal Reporter, Debt, Default judgment, Legal burden of proof, SCOTUS, Third Circuit
Authors:
L. John Bird
Location:
USA
Firm:
Fox Rothschild LLP
View Original Article
Decision in Advanced Marketing Services, Inc, reminds us - there is no "junk-mail defense"
2011-04-06

Summary

In a 15 page decision signed yesterday, April 5, 2011, Judge Sontchi of the Delaware Bankruptcy Court determined that when a company receives pleadings in a bankruptcy case, even if served on their “doing business as” name, they have received proper service. Judge Sontchi’s opinion is available here.

Background

Filed under:
USA, Delaware, Insolvency & Restructuring, Litigation, Fox Rothschild LLP, Bankruptcy, Vacated judgment, Default judgment, United States bankruptcy court
Authors:
L. John Bird
Location:
USA
Firm:
Fox Rothschild LLP
View Original Article
The effects of publication of a voluntary surrender notice – abuse of process vs the law
2014-08-25

In recent years it appears to have become a common trend for distressed homeowners to publish voluntary surrender notices as a stratagem to stay execution proceedings instituted by creditors. We have also witnessed an increase in institutions approaching distressed homeowners following publication of a notice of sale in execution, purporting to be in the business of assisting distressed homeowners by guarding their homes from sales in execution by the sheriffs of the high courts.

Filed under:
South Africa, Insolvency & Restructuring, Litigation, Real Estate, Hogan Lovells, Abuse of process, Default judgment
Location:
South Africa
Firm:
Hogan Lovells
View Original Article

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