This article has been contributed to the blog by Mary Paterson, Dave Rosenblat and Waleed Malik.
A debtor’s prepetition causes of action and other legal interests typically become property of the debtor’s estate under section 541 of the Bankruptcy Code. In a chapter 11 case, this often leaves the trustee (or debtor in possession) with the sole authority to pursue – or not pursue – such causes of action postpetition. Although the trustee is generally required to maximize the value of the estate, situations can arise where a trustee refuses to pursue litigation that is otherwise in the estate’s best interest.
“There’s no place like home…”
-Dorothy Gale
The ability of a foreign debtor to avail itself of the protections of the Bankruptcy Code, such as the automatic stay, with respect to its property located within the United States is one of the most fundamental and valuable tools available to foreign debtors with domestically located property. When a foreign debtor obtains “recognition” of its principal insolvency proceeding by U.S.
The extent of a transferee’s knowledge in the context of fraudulent transfer claims under the Bankruptcy Code has been a frequent topic of discussion on the Weil Bankruptcy Blog.
As a result of the sheer number of legal and factual issues involved in many chapter 11 cases, bankruptcy judges can sometimes find themselves as captives of the parties; they may not appreciate the significance of an issue or a provision buried in a longer document unless it is properly presented. Thus, it is imperative that counsel flag the key issues for the court.
The conflict between sections 363(f) and 365(h) of the Bankruptcy Code involves the question of whether a debtor-le
As we’ve noted on several occasions, parties in interest in a bankruptcy case generally hope for “big money – no whammies” (“
Can a nondischargeability suit survive after a claim is deemed “satisfied in full” under a confirmed plan? The Tenth Circuit recently considered this question in Bank of Commerce & Trust Co. v.