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 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
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.
Asbestos plaintiffs can seek damages in two independent compensation systems: by filing tort claims against solvent defendants and by filing claims with any of the dozens of asbestos bankruptcy trusts established under section 524(g) of the Chapter 11 Bankruptcy Code. These trusts, typically set up by plaintiffs’ attorneys after a defendant enters bankruptcy, exist to compensate injured workers or the families of deceased workers alleging asbestos exposure.
Why Lawyers Need to Pay More Attention to the Distinctions Between Veil-Piercing and Alter-Ego Theories
Last December, the American Bankruptcy Institute’s Commission to Study the Reform of Chapter 11 released a 400-page report on recommended changes to Chapter 11 of the Bankruptcy Code. ABI formed the Commission in 2012 to evaluate business reorganization laws in light of the challenging economic climate and the perception that the costs and complexities associated with filing Chapter 11 have made Chapter 11 filings substantially less viable for businesses experiencing financial difficulty.