In In re Fairfield TIC, LLC, Case No. 18-73744-VJ (E.D. Va. Nov. 20, 2018), the Bankruptcy Court for the Eastern District of Virginia dismissed a single asset real estate case, pursuant to section 1112(b) of the Bankruptcy Code, on “bad faith” grounds, based on the holding in Carolin Corp. v. Miller, 886 F.2d 693 (4th Cir. 1989).    

Facts

interTouch Holdings LLC and its affiliate, interTouch TopCo LLC, have both filed petitions for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12772).

On Wednesday, December 5, 2018, USA Gymnastics (USGA) filed for chapter 11 relief in the United States Bankruptcy Court for the Southern District of Indiana (Case No. 18-09108). USGA is the national governing body for gymnastics in the United States. It receive this designation from the U.S.

Checkout Holding Corp. (dba Catalina Marketing), along with ten affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Lead Case No. 18-12794).

A sex-abuse scandal has landed another organization in bankruptcy court. USA Gymnastics (“USAG”) filed chapter 11 last week in Indiana following a team doctor’s conviction for abusing hundreds of girls.[i]

The United States Court of Appeals for the Sixth Circuit recently examined and then clarified and set forth the test for evaluating the appealability of bankruptcy orders in an opinion released in the case Ritzen Group v. Jackson Masonry. In doing so, the appellate court reaffirmed the “longstanding and textually-compelled rule of [a] looser finality” standard in bankruptcy as compared to general civil litigation, and concluded that a denial of a motion to lift stay was a final appealable order subject to the fourteen-day appeals period established in Bankruptcy Rule 8002(a).

Does a creditor’s good-faith belief that a discharge injunction does not apply to its debt preclude a finding of civil contempt? Due to a circuit split, the U.S. Supreme Court was asked to decide this issue.

HIGHLIGHTS:

In a recent cross-border insolvency case, In re Agrokor d.d., 591 B.R. 163 (Bankr. S.D.N.Y. 2018), Judge Glenn of the United States Bankruptcy Court for the Southern District of New York recognized and enforced a restructuring plan approved by a Croatian court. Due to the nature of the debt to be discharged under the plan, the Court went through an in-depth analysis of international comity in the context of international bankruptcy law.

In IDEA Boardwalk, LLC v. Revel Entertainment Group, LLC (In re Revel AC Inc.), Case No. 17-3607, –F.3d–, 2018 WL 6259316 (3rd Cir. Nov. 30, 2018), the Third Circuit Court of Appeals recently enforced a tenant’s right to offset rent under a rejected lease of real property, pursuant to section 365(h) of the Bankruptcy Code and the doctrine of equitable recoupment.

Facts