Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

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Game on in Stockton, Ca Chapter 9 case - bond insurer sets focus on Calpers

2012-08-15

The Olympics may be over, but a potential clash of titans is gearing up in the Chapter 9 bankruptcy case of Stockton, California. Municipal bond insurer National Public Finance Guarantee Corporation (“National”) has challenged Stockton’s eligibility to be a debtor under Chapter 9 of the Bankruptcy Code, and is focusing expressly on the c

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USA, California, Insolvency & Restructuring, Litigation, Public, Kelley Drye & Warren LLP, United States bankruptcy court

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Court adopts "purpose" test to determine whether loan is "educational"

2011-03-07

BUSSON-SOKOLIK v. MILWAUKEE SCHOOL OF ENGINEERING (February 10, 2011)

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USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Costs in English law, Waiver, Debt, Default judgment, Bad faith, Frivolous litigation, Bankruptcy discharge, United States bankruptcy court

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State law conspiracy and tortious interference claims were properly removed because they "arose in" bankruptcy

2010-04-28

IN RE: REPOSITORY TECHNOLOGIES, INC

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USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Federal preemption, Bankruptcy, Abuse of process, Tortious interference, Vacated judgment, Remand (court procedure), Involuntary dismissal, Bad faith, Prejudice, United States bankruptcy court

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Throwing money (literally) down the sewer - Jefferson County and warrant holders square off on sewer system operating expenses

2012-04-05

U.S.

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USA, Alabama, Insolvency & Restructuring, Litigation, Public, Kelley Drye & Warren LLP, Debtor, United States bankruptcy court

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The dog that didn't bark - Second Circuit's opinion in DBSD North America disallows gifting, but is silent on cramdown of secured creditor

2011-03-02

As discussed in previous posts on this site, back in December the Second Circuit Court of Appeals issued a summary order that reversed the bankruptcy court’s confirmation of the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North America (“DBSD”).

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USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Unsecured debt, Collateral (finance), Security (finance), Interest, Market liquidity, Debt, Bad faith, Secured creditor, Unsecured creditor, Secured loan, Dish Network, Second Circuit, United States bankruptcy court

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Administrative creditor had no claim to assets that were not estate property

2012-02-08

IN RE: HOLLY MARINE TOWING, INC. (January 6, 2012)

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USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, United States bankruptcy court, Seventh Circuit

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Commercial relationship did not create a § 523(a)(4) fiduciary

2011-02-16

FOLLETT HIGHER EDUCATION GROUP v. BERMAN (January 21, 2011)

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USA, Illinois, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Shareholder, Debtor, Fiduciary, Advertising, Board of directors, Debt, Brokerage firm, Bankruptcy discharge, United States bankruptcy court, Seventh Circuit

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Fees for Defending Fees - Recent Rulings Permit Contractual Circumvention of Supreme Court’s Baker Botts v. Asarco Decision

2017-10-05

The Supreme Court two years ago ruled in Baker Botts v. Asarco that bankruptcy professionals entitled to compensation from a debtor’s bankruptcy estate had no statutory right to be compensated for time spent defending against objections to their fee applications.

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USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, SCOTUS, United States bankruptcy court

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