In a unanimous decision arising out of the Tribune Media Company bankruptcy cases, a panel of the Second Circuit held that the safe harbor under section 546(e) of the Bankruptcy Code, which precludes avoidance of certain transfers by a

“Sometimes, you can make no mistakes, do everything right, and still lose.”

Captain Jean-Luc Picard, Star Trek: The Next Generation (TNG)

This is the fourth and final post in our series on Judge Sontchi’s postpetition interest decision in Energy Future Holdings, issued on October 30, 2015.  Our first post in this series analyzed Judge Sontchi’s ruling that postpetition interest on an unsecured claim does not constitute a part of the unsecured claim itself.  Our 

As if the various statements, schedules, and reports that debtors are compelled to file with a bankruptcy court containing information about the debtor’s assets and liabilities aren’t enough of a reminder that disclosure and transparency are of utmost importance to the bankruptcy process, a recent decision by the United States Court of Appeals for the Fifth Circuit reinforces this notion.  In 

An essential element to any cramdown plan is the presence of at least one impaired accepting class.  Even when a plan proponent purports to satisfy this requirement, objecting parties will often challenge the plan’s classification scheme or whether a particular class is truly impaired.  A recent decision from the Southern District of New York, 

We hope you are emerging from your sugar coma and ready for some easy to digest morsels of the Weil Bankruptcy Blog.  With this entry, we summarize the blog entries from the second half of October. 

In a Twist, Court Finds That Junior Stakeholders Violated Their Implied Duties Under an Indenture

Congress made clear in its enactment of section 503(b)(3)(D) of the Bankruptcy Code that, to the extent a creditor makes a substantial contribution in a chapter 9 or chapter 11 bankruptcy case, that creditor should be rewarded.  Because the reward — reimbursement of fees and expenses as administrative expenses of the estate —

The Bankruptcy Court for the Southern District of New York recently handed down a decision declining to grant a creditor’s motion to reopen a debtor’s chapter 7 case and vacate a discharge order. Although the legal predicates at issue in that case may not be relevant to all practitioners, the case itself serves as a valuable reminder about “best” practices and provides a number of teachable moments for attorneys of all ages and practice areas.

Background

Last week, we reviewed the recent decision of the Bankruptcy Court for the Southern District of New York that granted recognition to the Brazilian bankruptcy proceedings of three entities in the OAS Group (“OAS”), a Brazilian infrastructure enterprise. Part I of this series focused on the facts of the OAS cases and the objections to recognition interposed by two signific

Interested chapter 11 plan investors, beware. A recent decision by the United States Court of Appeals for the Ninth Circuit held that even after the chapter 11 plan has been confirmed and substantially consummated and your money has been invested, an appeal can go forward even if a victory for the appellants would change the chapter 11 plan terms on which you relied and substantially diminish the value of your investment.