We admit, discovery disputes rarely make for titillating blog posts. But a letter ruling issued towards the end of last year by Judge Shannon in Longview Power, LLC et al. v. First American Title Insurance Co. recently caught our eye.
Providing proper notice to existing and potential creditors is an important consideration for debtors’ counsel. A seminal Supreme Court decision established that due process for “unknown” claimants is generally satisfied by publication notice, so long as it is reasonably calculated to reach such creditors under the circumstances.
Although the bankruptcy world has long been acquainted with Ponzi schemes, the courts have not clearly answered the question of how to distribute investors’ funds after a scheme fails – especially in the scenario where certain investors profit. The United States Bankruptcy Court for the District of Utah recently weighed in on the issue in
We previously covered the Meridian Sunrise Village case on the Bankruptcy Blog here.
The United States Court of Appeals for the First Circuit contributed to a circuit split regarding jurisdiction in its recent decision in Pinpoint IT Services, LLC v. Rivera (In re Atlas IT Export Corp.).
In 1988, Congress added section 365(n) to the Bankruptcy Code to provide special protections for licensees of intellectual property upon a debtor’s rejection of an intellectual property license agreement. Whether trademarks are within the ambit of section 365(n) protection, though, is open to question.
Secured creditors naturally want to be repaid. Sometimes secured creditors go as far as asking a debtor to waive its right to seek bankruptcy protection. Although such clauses are frequently held to be unenforceable, we previously have discussed exceptions for LLCs.
“Smokey, this is not ‘Nam. This is [bankruptcy]. There are rules.”
– Walter Sobchak, The Big Lebowski (as modified)