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    Seventh Circuit dodges intra- and inter-circuit conflict regarding res judicata and bankruptcy
    2011-08-15

    MATRIX IV, INC. v. AMERICAN NATIONAL BANK AND TRUST CO. OF CHICAGO (July 28, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Breach of contract, Fraud, Res judicata and issue estoppel, Estoppel, Summary offence, Common law, Collateral estoppel, Collusion, United States bankruptcy court, Seventh Circuit
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Credit bidding after Philadelphia Newspapers: dissent 1, majority 0
    2010-10-29

    Bankruptcy lawyers who are regularly involved in distressed m&a deals have been wondering for the past few months about the potential fallout from Philadelphia Newspapers.

    Filed under:
    USA, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Credit (finance), Debtor, Dissenting opinion, Majority opinion, Secured loan, United States bankruptcy court, Third Circuit, Seventh Circuit, US District Court for Northern District of Illinois
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Energy Future Holdings – kicking a very large can down the road
    2015-10-01

    Energy Future Holdings (“EFH” or “Debtors”) has cleared all of the preliminary hurdles in its path as it moves towards the confirmation of its plan of reorganization (the “Plan”).

    Filed under:
    USA, Insolvency & Restructuring, Kelley Drye & Warren LLP, Real estate investment trust, United States bankruptcy court
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Creditor fraud in bankruptcy proceeding is not a "fraud on the court" for Rule 60 purposes
    2011-08-04

    IN RE: GOLF 255, INC. (July 22, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bribery, Bankruptcy, Shareholder, Fraud, Discovery, Res judicata and issue estoppel, Mediation, United States bankruptcy court, Seventh Circuit, Trustee
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    No abuse of discretion in refusing to reopen bankruptcy proceedings after four years
    2010-10-22

    REDMOND v. FIFTH THIRD BANK (October 20, 2010)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debt, Mortgage loan, Foreclosure, Standard of review, Remand (court procedure), Default (finance), Prejudice, United States bankruptcy court
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Supreme Court decides to maintain the viability of the U.S. bankruptcy courts, but a key question remains unresolved
    2015-05-28

    Four years ago, in Stern v. Marshall, the Supreme Court stunned many observers by re-visiting separation of powers issues regarding the jurisdiction of the United States bankruptcy courts that most legal scholars had viewed as long settled. Stern significantly reduced the authority of bankruptcy courts, and bankruptcy judges and practitioners both have since been grappling with the ramifications of that decision.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Debtor, Article III US Constitution, Article I US Constitution, United States bankruptcy court
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Remand order is not appealable when lower court unmistakenly dismissed for lack of jurisdiction, even though erroneously
    2011-08-01

    TOWNSQUARE MEDIA v. BRILL (July 21, 2011)

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Media & Entertainment, Kelley Drye & Warren LLP, Bankruptcy, Summary offence, Remand (court procedure), Non-disclosure agreement, Subject-matter jurisdiction, United States bankruptcy court, Seventh Circuit
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    Bankruptcy court acted within discretion in concluding that trust did not meet the "adequate assurance of future performance" test
    2010-10-08

    IN RE: RESOURCE TECHNOLOGY CORP. (October 1, 2010)

    Filed under:
    USA, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Natural gas, Board of directors, Legal burden of proof, Electricity, Contempt of court, United States bankruptcy court
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    US District Court upholds safe harbour protection of swap agreements from ipso facto prohibitions - lessons for Australia
    2018-04-12

    In June 2016, Judge Chapman of the US Bankruptcy Court handed down a landmark decision in In re Lehman Bros. Holdings Inc., 553 B.R. 476 (Bankr S.D.N.Y.

    Filed under:
    Australia, USA, Derivatives, Insolvency & Restructuring, Litigation, Clayton Utz, Lehman Brothers, United States bankruptcy court
    Authors:
    Karen O'Flynn , Flora Innes
    Location:
    Australia, USA
    Firm:
    Clayton Utz
    US Bankruptcy Court flips English decision on flip clauses in Lehman Brothers case
    2010-02-05

    On 25 January 2010, the United States Bankruptcy Court handed down its much anticipated decision in relation to an action brought in that court by two Lehman Brothers entities (the Lehman entities) against BNY Corporate Trustee Services Limited (BNY) (the US Decision).

    Filed under:
    Australia, USA, Banking, Insolvency & Restructuring, Litigation, Securitization & Structured Finance, Clayton Utz, Bankruptcy, Swap (finance), Default (finance), Title 11 of the US Code, Lehman Brothers, Court of Appeal of England & Wales, United States bankruptcy court
    Location:
    Australia, USA
    Firm:
    Clayton Utz

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