The Sixth Circuit addressed on Monday a circuit split concerning appellate jurisdiction over bankruptcy court orders rejecting planned confirmation in In re William Lindsey.   In an opinion by Judge Sutton, the Sixth Circuit joined four other circuits which had concluded that a decision rejecting a confirmation plan does not constitute a final appealable order under Section 158(d)(1) of the Bankruptcy Code.  The Court noted that an unpublished decision in t

In FDIC v. AmTrustFinancial Corporation, the Sixth Circuit considered the results of the very first trial in the nation under Bankruptcy Code Section 365(o). Section 365(o) is an infrequently litigated provision of the Bankruptcy Code that requires a party seeking Chapter 11 bankruptcy protection to fulfill “any commitment . . .

In what appears to be a matter of first impression, Bankruptcy Judge Robert D. Drain, United States Bankruptcy Court for the Southern District of New York, has held that a statutory safe harbor against constructive fraudulent conveyance actions under the Bankruptcy Code involving securities transfers does not apply to the private sale of securities, even when there are no allegations of illegal conduct or fraud involved in the underlying transaction.

On 13 July 2010 Germany's Federal Ministry of Justice and Finance published a discussion draft of an Act for the Restructuring and Orderly Liquidation of Credit Institutions, for the Establishment of a Restructuring Fund for Credit Institutions and for the Extension of the Limitation (Restructuring Act).

The recent English court decision in Goldacre (Offices) Limited v Nortel Networks UK Limited (in administration) [2009] EWCH 3389 (Ch) may be controversial and raises thorny practical issues, especially in relation to the restructurings of retail businesses.   

Poland’s Supreme Court in a recent ruling found a grant of security for parallel debt to be invalid.

On 1 April 2008 The Non-Domestic Rating (Unoccupied Property) (England) Regulations 2008 (Regulations) came into force. The Regulations extend the exclusion from the obligation to pay rates in respect of unoccupied non-domestic rates to those premises where the owner (or lessee, being a person entitled to possession) is a company in administration pursuant to Schedule B1 Insolvency Act 1986 or is subject to an administration order under the former administration provisions.

It is relatively rare when a Circuit Court issues an opinion on the preference defenses under section 547(c) of the Bankruptcy Code. It is even more unusual when a decision examines the fact-focused “ordinary course” defense under section 547(c)(2). The ordinary course defense shields payments determined to have been made in the “ordinary course of business” of both the debtor and the creditor.

In bankruptcy cases, things often move more slowly than people would like or expect.  In addition to dealing with oversight by the bankruptcy court and the United States Trustee, a debtor typically spends significant time engaging with its lenders and secured creditors, committees of unsecured creditors, and any number of other key stakeholders.  Court approval is needed for most significant events in the case, for anything out of the ordinary course of business, and, at times, even for small matters.  Transparency, adequate notice and opportunity to object, and due process a

The French government has made the assessment that certain small commercial courts were regularly finding themselves confronted with cases of great complexity, only because the company in difficulty had its head office in the jurisdiction of these courts. It therefore announced the establishment of specialised commercial courts (TCS) which will process the most complex insolvency proceedings.