It seems only fitting that recent decisions by the United States District Court for the Southern District of New York and its bankruptcy court regarding the nature of electricity should have sent, at least initially, a jolt through the energy community.  Perhaps the Southern District court would lead the charge for one side or the other in an ongoing debate over whether electricity constitutes goods or services—a controversy that has potentially far-reaching implications (in bankruptcy cases, concerning the priority of claims of electricity providers, and, in ordinary transactions, for

In a September 18, 2015 order, the U.S. District Court for the Southern District of New York affirmed a bankruptcy court order denying administrative claim treatment to Hudson Energy Services, LLC (“Hudson”) for its retail sales of electricity to the debtor.¹ The decision does not address any “safe-harbor” or forward contract issues, but is among a number of decisions providing for inconsistent treatment of such sales.

With fall weather now upon us, it may be hard to believe that those long weekends spent at the Hamptons were only weeks ago.  Those readers who fell behind on their bankruptcy blog reading due to poor Wi-Fi connection on the Jitney might have missed our post on 

For the past year, many involved in the debt buyer industry have closely followed the 11^th Circuit’s ruling in Crawford v. LVNV Funding, LLC.   Last week, the bankruptcy court again dismissed the adversary proceeding. Crawford v. LVNV Funding, LLC, Case No. 08-30192-DHW, Adv. Pro. No. 12-030333-DHW (Sep.

A federal judge in New York – the Hon. Richard J. Sullivan – mostly granted JP Morgan Chase Bank’s motion to dismiss claims brought on behalf of unsecured creditors of Lehman Brothers Holdings Inc. related to JPM’s requirement that Lehman Brothers Inc., LBH’s broker-dealer subsidiary, pledge and post extra collateral in September 2008, shortly before LBI filed for bankruptcy protection on September 15, 2008.

In American Federated Title Corp. v. GFI Management Services, Inc., the United States District Court for the Southern District of New York 

Is a debtor required to pay default rate interest when it reinstates a loan under a plan of reorganization? According to a recent Eleventh Circuit Court of Appeals decision, In re Sagamore Partners, Ltd., 2015 U.S. App. LEXIS 15382 (Aug. 31, 2015), the answer depends upon the underlying loan documents and applicable non-bankruptcy law.

On June 1, 2015, the Supreme Court of the United States decided Bank of America, N.A. v. Caulkett, 135 S. Ct. 1995 (2015) in a unanimous opinion—except for a footnote—authored by Justice Thomas, and determined that a chapter 7 debtor may not void a junior lien under § 506(d) of the Bankruptcy Code even when the debt owed on the senior lien exceeds the present value of the property.

Restructurings are all about alternatives. It is one thing for a creditor to hold an instrument that entitles it to payment of $X on Y date. But if the debtor does not have the cash to satisfy the obligation when due, some type of restructuring must occur.

Section 363 of the Bankruptcy Code provides debtors an efficient and flexible mechanism to dispose of substantially all estate assets outside of the confines of the Bankruptcy Code’s provisions concerning plan confirmation.  The Third Circuit’s recent decision in