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    Bilta – the end of the ''sole actor'' exception?
    2013-09-20

    The Court of Appeal recently handed down its much-anticipated judgment in (1) Jetivia S.A. (2) URS Brunschweiler v Bilta (UK) Limited (in liquidation) (2013).

    Filed under:
    United Kingdom, Insolvency & Restructuring, Litigation, Tax, Clyde & Co LLP, Fraud, Liquidation
    Location:
    United Kingdom
    Firm:
    Clyde & Co LLP
    Third Circuit Ruling on Constitutional Authority of Bankruptcy Courts Can Provide Guidance for the Looming Wave of COVID-19 Cases
    2020-04-07

    The economic fallout from the COVID-19 pandemic will leave in its wake a significant increase in commercial chapter 11 filings. Many of these cases will feature extensive litigation involving breach of contract claims, business interruption insurance disputes, and common law causes of action based on novel interpretations of long-standing legal doctrines such as force majeure.

    Filed under:
    USA, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Medicare, Medicaid, Bankruptcy, Fraud, Force majeure, Coronavirus, SCOTUS
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Mets' owners swing for the fences against Madoff trustee
    2011-08-24

    Fred Wilpon, Saul Katz, and their families and affiliated enterprises (the “Wilpon/Katz Group”) last week formally requested the dismissal of the adversary proceeding commenced by Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (“BLMIS”). In a two hour hearing before U.S.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, White Collar Crime, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Fraud, Discovery, Debt, Mediation, Good faith, Title 11 of the US Code, Second Circuit, Trustee
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Seventh Circuit dodges intra- and inter-circuit conflict regarding res judicata and bankruptcy
    2011-08-15

    MATRIX IV, INC. v. AMERICAN NATIONAL BANK AND TRUST CO. OF CHICAGO (July 28, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Breach of contract, Fraud, Res judicata and issue estoppel, Estoppel, Summary offence, Common law, Collateral estoppel, Collusion, United States bankruptcy court, Seventh Circuit
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Creditor fraud in bankruptcy proceeding is not a "fraud on the court" for Rule 60 purposes
    2011-08-04

    IN RE: GOLF 255, INC. (July 22, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bribery, Bankruptcy, Shareholder, Fraud, Discovery, Res judicata and issue estoppel, Mediation, United States bankruptcy court, Seventh Circuit, Trustee
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Looks like Fred Wilpon picked the wrong week to quit drinking
    2011-05-27

    The well known travails of Fred Wilpon, the principal owner of the New York Mets, have all converged this past week. He, his partner Saul Katz and their families and affiliated enterprises (the “Wilpon/Katz Group”) lost several hundred million dollars when Bernard Madoff’s long running Ponzi scheme finally unraveled at the height of the financial crisis in 2008.

    Filed under:
    USA, Insolvency & Restructuring, Insurance, Litigation, White Collar Crime, Kelley Drye & Warren LLP, Bankruptcy, Fraud, Hedge funds, Liquidation, Good faith, Cashflow, Unsecured creditor, Lehman Brothers, Trustee
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    U.S. has no authority to issue writ of garnishment against assets of company in which judgment debtor invested
    2011-05-27

    UNITED STATES OF AMERICA v. ROGAN (May 12, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Medicare, Medicaid, Fraud, Interest, Limited liability company, Vacated judgment, Liquidation, Remand (court procedure), Writ
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    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
    Transactions can be outside the "ordinary course" and require SOFA disclosure without being fraudulent
    2011-04-19

    STAMAT v. NEARY (March 24, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Fraud, Debt, Legal burden of proof, Bench trial, United States bankruptcy court, Trustee
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Madoff trustee's amended complaint - more bad stuff 'bout the Mets (owners)
    2011-03-23

    Irving Picard, the trustee overseeing the liquidation of Bernard L.

    Filed under:
    USA, Capital Markets, Insolvency & Restructuring, White Collar Crime, Kelley Drye & Warren LLP, Bankruptcy, Fraud, Liquidation, Gross negligence, Unsecured creditor, The New York Times, Second Circuit, United States bankruptcy court, Trustee
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP

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