“You should try the chicken fried steak. It’s like a chicken and a steak got together and made a baby. A delicious, crispy baby.”
– Hoyt Fortenberry, True Blood
A recent decision by the United States Bankruptcy Court for the Southern District of New York may make it easier for debtors to obtain some relief from preferential payments to a foreign entity, even if the recipient of the transfer has no address in the United States.
In the latest chapter of the New Century bankruptcy cases, the Court of Appeals for the Third Circuit vacated a district court’s decision on the sufficiency of the debtors’ publication notice and remanded the case back to the district court to determine the critical issue of whether the plaintiff-appellees were known creditors entitled to actual notice.
The Supreme Court, in Ritzen Group, Inc. v. Jackson Masonry, LLC,1 issued an unanimous opinion last week, ruling that the Court of Appeals for the Sixth Circuit correctly denied the ability of creditor Ritzen Group Inc.
In Momentive Performance Materials, the Second Circuit declined to dismiss as equitably moot the appeals of certain noteholders.
Recently, in GSE Environmental, Inc. v. Sorrentino (In re GSE Environmental, Inc.), on a motion for judgment on the pleadings, the Bankruptcy Court for the District of Delaware held that the Chief Executive Officer’s claim for unpaid compensation payable in stock constituted an equity security rather than a general unsecured claim.
Claims disputes are “core proceedings” in bankruptcy cases that are subject to the general jurisdiction of bankruptcy courts, subject to exceptions for personal injury tort or wrongful death claims. Under 28 U.S.C.
Gary Ozenne seems to love bankruptcy court. To wit, Mr. Ozenne filed, on his own behalf, seven bankruptcy cases over the course of five years. Mr. Ozenne has three times petitioned the United States Supreme Court, on each occasion seeking bankruptcy-related relief. Unfortunately for Mr.
“Sometimes, you can make no mistakes, do everything right, and still lose.”
Captain Jean-Luc Picard, Star Trek: The Next Generation (TNG)
This is the third post in our series on Judge Sontchi’s postpetition interest decision in Energy Futures Holdings, issued on October 30, 2015. Our first post in this series analyzed Judge Sontchi’s ruling that postpetition interest on an unsecured claim does not constitute a part of the unsecured claim itself.