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    United States Supreme Court clarifies (slightly) limitations on bankruptcy court's jurisdiction
    2014-06-23

    The Supreme Court has issued two opinions on the subject of bankruptcy court authority and jurisdiction in recent years. The first opinion, Stern v. Marshall, 564 U.S. _, 131 S.Ct. 2594 (2011) was a 5-4 split from 2011 that roiled the bankruptcy waters by raising many questions about the constitutionality of the jurisdiction and authority Congress has provided to bankruptcy courts. The more recent opinion— Executive Benefits Insurance Agency v. Bellingham, Chapter 7 Trustee of Estate of Bellingham Insurance Agency, Inc.,___ U.S. _, No.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Hunton Andrews Kurth LLP, Bankruptcy, Constitutionality, Article III US Constitution, Supreme Court of the United States, United States bankruptcy court
    Location:
    USA
    Firm:
    Hunton Andrews Kurth LLP
    As the World Cup rages, rival ownership groups spar for control of Pittsburgh soccer team
    2014-06-24

    While the best men’s national soccer teams from around the world are battling in Brazil to be crowned the World Cup champion, some club teams in the U.S. have their sights set on more modest goals.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Media & Entertainment, Cooley LLP
    Location:
    USA
    Firm:
    Cooley LLP
    Ex-president surely feels like a room without a roof: happy not to be deemed an insider (part I)
    2014-06-24

    Who are we kidding? The topic of statutory insiders has been a blog favorite, year after year.

    Filed under:
    USA, Aviation, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy Appellate Panel
    Authors:
    Andriana Georgallas
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Ex-president surely feels like a room without a roof: happy not to be deemed an insider (part II)
    2014-06-25

    In Part I of our entry on Weinman v. Walker (In re Adam Aircraft Indus.

    Filed under:
    USA, Aviation, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy Appellate Panel
    Authors:
    Andriana Georgallas
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    US Court of Appeals for the Tenth Circuit decides a CERCLA “judicially approved settlement” is not different in bankruptcy
    2014-06-25

    On July 23, in ASARCO LLC v. Union Pacific Railroad Company, et al. No. 13-1435 (10th Cir.), the Tenth Circuit rejected the notion that settlement requirements are different in the bankruptcy context.  Section 113 of the Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), 42 U.S.C.

    Filed under:
    USA, Environment & Climate Change, Insolvency & Restructuring, Litigation, Squire Patton Boggs, Statute of limitations, Tenth Circuit
    Authors:
    Carolyn L. McIntosh
    Location:
    USA
    Firm:
    Squire Patton Boggs
    Manufacturer's corner: when bankruptcy and your shipping terms collide
    2014-06-25

    In recent installments of the Manufacturer’s Corner, we have discussed how to protect yourself from insolvent customers and how your shipping terms can expose you to unexpected risk.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Shipping & Transport, Spencer Fane LLP, Bankruptcy, Debtor
    Authors:
    Ryan C. Hardy
    Location:
    USA
    Firm:
    Spencer Fane LLP
    Olive oil class action takes aim at owners of bankrupt company
    2014-06-26

    A class of consumers suing the bankrupt Kangadis Food Inc. over its allegedly misleading olive oil purity claims is now suing the owners of the company in a separate class action aimed at holding them accountable.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Media & Entertainment, Product Regulation & Liability, Winston & Strawn LLP, Class action
    Authors:
    Ronald Y. Rothstein
    Location:
    USA
    Firm:
    Winston & Strawn LLP
    Adelphia decision explores the impact of prepetition fraud on valuation methodologies in avoidance actions
    2014-06-19

    Recoveries from fraudulent conveyance lawsuits can be a significant source of recovery for creditors of bankruptcy estates.  Because a plaintiff seeking to avoid a prepetition transfer as constructively fraudulent must demonstrate that the debtor was insolvent or inadequately capitalized at the time of the challenged transfer, valuation analyses that support allegations of insolvency are critical.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, White Collar Crime, Cooley LLP, Fraud, Valuation (finance), Discounted cash flow
    Location:
    USA
    Firm:
    Cooley LLP
    Mt. Gox’s chapter 15 case is officially underway
    2014-06-19

    As expected (and predicted), the bankruptcy judge in Dallas, Texas granted Mt. Gox’s request for an order of “recognition” that the debtor’s Tokyo insolvency action was a “foreign main proceeding.” She will also allow Mt. Gox’s bankruptcy trustee, Nobuaki Kobayahsi, to act as the “foreign representative” of the debtor in connection with whatever relief it might seek in the Chapter 15 case.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, Perkins Coie LLP
    Authors:
    John D. Penn , Gary F. Eisenberg
    Location:
    USA
    Firm:
    Perkins Coie LLP
    Are you not entertained? The SDNY weighs in on the battle between sections 363(f) and 365(h) of the Bankruptcy Code
    2014-06-19

    The conflict between sections 363(f) and 365(h) of the Bankruptcy Code involves the question of whether a debtor-le

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Real Estate, Weil Gotshal & Manges LLP, US District Court for the Southern District of New York
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP

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