In an opinion issued today, the Supreme Court held that debtors do not have the right to immediately appeal a bankruptcy court’s decision denying confirmation of a proposed reorganization plan. This decision resolves a circuit split, and confirms the balance of power between debtors and creditors in the plan confirmation process. As the Supreme Court explained, “the knowledge that [a debtor] will have no guaranteed appeal from a denial should encourage the debtor to work with creditors and the trustee to develop a confirmable plan as promptly as possible.”
The following Middle Market insight* originally appeared in the Spring 2015 edition of Disclosure Statement, the official publication of the Bankruptcy Section of the North Carolina Bar Association.
The recent Fifth Circuit decision in Janvey v. The Golf Channel, Inc. ("Golf Channel") reminds us again that sometimes, despite our best efforts, bad things happen to good people. In that case, the Golf Channel learned a painful lesson arising out of its innocent involvement with Stanford International Bank, Ltd.
In litigation, obtaining a judgment is step one. Step two – often as, if not more, difficult than winning a lawsuit – is collection. In a short, interesting Memorandum of Decision and Order (the “Decision”), Judge Dales of the United States Bankruptcy Court for the Western District of Michigan (the “Bankruptcy Court”), writes about some of the practical and legal considerations involved with pursuing collection of a bankruptcy court judgment.
In re Betchan, 524 B.R. 830 (Bankr. E.D. Wash. 2015) –
A mortgagee was the highest bidder at a foreclosure sale that took place shortly before the debtor filed bankruptcy. The lender requested relief from the automatic stay in order to evict the debtor on the basis that transfer of the property was completed prepetition so that it was not part of the debtor’s bankruptcy estate.
In yesterday’s post, we published a speech in which Harvey Miller discussed how he got started practicing bankruptcy law. Today, we are publishing the text of a speech that Harvey gave in March of 2014 on the 40th anniversary of the Southeastern Bankruptcy Law Institute, at which Harvey was a frequent speaker. In this speech, Harvey looked back at the evolution of bankruptcy law over the past 50 years.
Introduction
In In re: China Medical Technologies, Inc., 522 B.R. 28 (Bankr. S.D. N.Y.
On April 17, NewSat Ltd. (NewSat) and various affiliates, including Jabiru Satellite Holdings Pty Ltd., were placed in administration in Australia by the trustee for its lenders, Citicorp International, and related petitions were filed in the U.S.
In June of 2007, Harvey gave the keynote address at the International Institute of Insolvency. In the address, Harvey asked the question, “Is the market headed for disaster?” He also says, “When the bubble bursts, those left holding today’s version of tulip bulbs may be left scratching their heads and pining for the past.” Little did Harvey (or anyone else) suspect that 15 months later, the collapse of Lehman Brothers would trigger a worldwide financial crisis.
Introduction
The following commentary provides empirical evidence of how pronounced an impact the consolidation of asbestos cases has had upon the verdicts in the New York City Asbestos Litigation (‘‘NYCAL’’).1 The proliferation of case consolidations as the judicial response to burgeoning caseloads in NYCAL, with an emphasis on expediency and case management, has led to inequitable outcomes, which in turn have raised concerns over violations of defendant due process.