Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Fifth Circuit holds foreign representatives may bring foreign law avoidance actions under Chapter 15 of Bankruptcy Code
    2010-04-05

    The United States Court of Appeals for the Fifth Circuit on March 17, 2010 held that foreign representatives appointed in a foreign insolvency proceed-ing have the authority to bring a foreign law based avoidance action in an ancillary bankruptcy proceeding commenced under Chapter 15 of the Bankruptcy Code, reversing the lower court opinions.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Dechert LLP, Bankruptcy, Debtor, Liquidation, Subject-matter jurisdiction, US Code, Title 11 of the US Code, United States bankruptcy court, Fifth Circuit, US District Court for the Southern District of New York
    Location:
    USA
    Firm:
    Dechert LLP
    Third Circuit restricts lenders’ right to credit bid on collateral sold through a plan of reorganization
    2010-04-28

    The Third Circuit Court of Appeals dealt a blow to secured creditors in its recent decision holding that a debtor may prohibit a lender from credit bidding on its collateral in connection with a sale of assets under a plan of reorganization. In the case of In re Philadelphia Newspapers, LLC, No. 09-4266 (3d Cir. Mar. 22, 2010), the court, in a 2-1 decision, determined that a plan that provides secured lenders with the “indubitable equivalent” of their secured interest in an asset is not required to permit credit bidding when that asset is sold.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Credit (finance), Debtor, Collateral (finance), Interest, Federal Reporter, Limited liability company, Debt, Personal property, Secured creditor, Secured loan, Title 11 of the US Code, United States bankruptcy court, Fifth Circuit, Third Circuit, US District Court for Eastern District of Pennsylvania
    Location:
    USA
    Firm:
    Squire Patton Boggs
    Courts restrict secured creditors' right to credit bid at bankruptcy sales
    2010-06-01

    The Third Circuit recently held that a bankruptcy court may confirm a Chapter 11 plan that includes a sale of assets in which secured creditors are not permitted to “credit bid” for the assets. In re Philadelphia Newspapers, LLC, 599 F.3d 298 (3d Cir. 2010). In that case, the debtors in possession, companies that own and operate the Philadelphia Inquirer and Philadelphia Daily News, moved the bankruptcy court to approve bid procedures for an auction of the debtors’ assets. Id. at 302.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, Credit (finance), Debtor, Federal Reporter, Debt, Secured creditor, Secured loan, US Congress, US Code, United States bankruptcy court, Fifth Circuit, Third Circuit
    Authors:
    Darren A. Craig
    Location:
    USA
    Firm:
    Frost Brown Todd LLP
    Third Circuit overrules Frenville accrual test to hold that asbestos-related claims arise when the claimant is exposed
    2010-06-16

    The United States Court of Appeals for the Third Circuit on June 2, 2010, sitting en banc, overruled its own precedential holding in Avellino & Beines v. M. Frenville Co. (Frenville), 744 F.2d 332 (3d Cir. 1984), to hold that in the context of asbestos-related tort claims, a “claim” under the Bankruptcy Code arises when an individual is exposed pre-petition to a product giving rise to an injury rather than when the injury manifests itself. JED-WEN, Inc. v. Van Brunt (In re Grossman’s), No. 1563, slip op. at 18 (3d Cir. June 2, 2010).

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Product Regulation & Liability, Dechert LLP, Bankruptcy, Conflict of laws, Retail, Debtor, Federal Reporter, MFG.com, US Code, Title 11 of the US Code, United States bankruptcy court, Fifth Circuit, Third Circuit, Fourth Circuit
    Location:
    USA
    Firm:
    Dechert LLP
    In the courts
    2010-08-09
    • On August 4, 2010, the US Court of Appeals for the Seventh Circuit affirmed in part and reversed in part a Wisconsin federal district court’s ruling on the Wisconsin bankruptcy court’s disposition of three of Telephone and Data Systems’ (TDS) claims, and the FCC’s objections thereto, filed in Airadigm’s Chapter 11 reorganization plan. The principal assets at issue were a series of C- and F-block spectrum licenses for mobile phone service in certain areas of Wisconsin, Iowa, and Michigan that Airadigm had won at auction in the late 1990s.
    Filed under:
    USA, Insolvency & Restructuring, Litigation, Telecoms, ArentFox Schiff, Bankruptcy, Debtor, Federal Communications Commission (USA), Administrative Procedure Act, Supreme Court of the United States, United States bankruptcy court, Fifth Circuit, Seventh Circuit
    Authors:
    Ross A. Buntrock , Jonathan E. Canis , Alan G. Fishel , Michael B. Hazzard , Stephanie A. Joyce , Jeffrey E. Rummel
    Location:
    USA
    Firm:
    ArentFox Schiff
    Avoidance powers in Chapter 15 proceedings
    2010-08-18

    The Court of Appeals for the Fifth Circuit recently held that Chapter 15 of the Bankruptcy Code does not prohibit a foreign representative from bringing an avoidance action so long as the claim for relief is based on the substantive laws of the jurisdiction where the foreign proceeding is located. The Fifth Circuit’s decision is consistent with the dual policy considerations of comity and predictability. Fogerty v. Petroquest Res., Inc. (In re Condor Ins. Ltd.), 601 F.3d 319 (5th Cir. 2010).

    Background

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Chadbourne & Parke LLP, Debtor, Fiduciary, Liquidation, Comity, US Congress, US Code, Title 11 of the US Code, United States bankruptcy court, Fifth Circuit
    Authors:
    Marc B. Roitman
    Location:
    USA
    Firm:
    Chadbourne & Parke LLP
    Proof of falsity and materiality are not required at class certification stage
    2010-09-07

    SCHLEICHER v. WENDT (August 20, 2010)

    Conseco was a large financial services company traded on the New York Stock Exchange. It filed for bankruptcy in 2002 and successfully reorganized. This securities-fraud claim was filed against Conseco managers who are alleged to have made false statements prior to the bankruptcy. Then-District Judge Hamilton (S.D. Ind.) certified a class. Defendants appeal.

    Filed under:
    USA, Capital Markets, Insolvency & Restructuring, Litigation, White Collar Crime, Kelley Drye & Warren LLP, Bankruptcy, Private equity, Security (finance), Fraud, Class action, Causality, US Congress, New York Stock Exchange, Fifth Circuit
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Texas district court affirms the contractual default interest rate where the debtor is solvent
    2010-09-13

    Good v RMR Investments, Inc, 428 BR 249 (ED Texas, March 31, 2010)

    CASE SNAPSHOT

    A secured creditor in a chapter 11 case objected to the confirmation of the reorganization plan of the debtor, arguing that the proper “cramdown” interest rate (court-modified rate) was the pre-petition contractual default rate, rather than the significantly lower cramdown rate. After the debtor appealed, the District Court affirmed, holding that utilizing the contract rate of interest was appropriate because the debtor was solvent.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debtor, Interest, Limited liability company, Maturity (finance), Default (finance), Secured creditor, Deed of trust (real estate), Title 11 of the US Code, United States bankruptcy court, Fifth Circuit
    Authors:
    Ann E. Pille
    Location:
    USA
    Firm:
    Reed Smith LLP
    Weathering the storm: buyer beware, Fifth Circuit rules purchasers of reorganized debtors liable for undervalued claim
    2010-11-15

    In an October 19, 2010 opinion arising out of the Scotia Pacific bankruptcy cases, the Fifth Circuit ruled that reorganized Scotia and its affiliate Pacific Lumber Company were obliged – nearly 2½ years after Scotia’s reorganization plan was consummated – to pay Scotia’s former secured lenders approximately $30 million on account of a mistake made by the bankruptcy judge in calculating the amount owed to the secured lenders for the use of their collateral during the bankruptcy cases.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Haynes and Boone LLP, Bankruptcy, Debtor, Collateral (finance), Market liquidity, Secured loan, United States bankruptcy court, Fifth Circuit
    Location:
    USA
    Firm:
    Haynes and Boone LLP
    Recent Eighth Circuit bankruptcy decisions
    2010-11-08

    In October 2010, several important Eighth Circuit Bankruptcy Court decisions were issued. This article summarizes those decisions.

    The National Benevolent Association of the Christian Church (Disciples of Christ), et. al v. Weil, Gotshal & Manges, LLP, No. 09-6084, 09-6085 (8th Cir. BAP 10/8/10)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Larkin Hoffman Daly & Lindgren Ltd, Debtor, Standing (law), Remand (court procedure), Involuntary dismissal, Domestic violence, Subject-matter jurisdiction, Trustee, Eighth Circuit, United States bankruptcy court, Fifth Circuit, Bankruptcy Appellate Panel
    Location:
    USA
    Firm:
    Larkin Hoffman Daly & Lindgren Ltd

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 11
    • Page 12
    • Page 13
    • Page 14
    • Current page 15
    • Page 16
    • Page 17
    • Page 18
    • Page 19
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days