An involuntary petition under chapter 7 of the Bankruptcy Code filed against a Mississippi casino developer was dismissed for bad faith, even though the petitioning creditors met the statutory requirements for filing the involuntary case. In In re Diamondhead Casino Corporation, the U.S.
Venue has long been a contentious topic highlighted by cases such as Enron and WorldCom to the more recent venue battle in Caesars. Recently, the United States Bankruptcy Court for the District of Kansas addressed this issue, and declined to transfer a pending bankruptcy case to the District of Delaware where cases involving the debtor’s indirect parent company and other affiliates were pending.
In Providence Hall Associates Limited Partnership v. Wells Fargo Bank, N.A., the Fourth Circuit denied plaintiff’s attempt to receive a second bite at the apple, finding that plaintiff’s lawsuit was appropriately dismissed by the district court on res judicata grounds.
“Desperate times call for desperate measures” is often a rallying cry to justify harsh actions taken during times of panic and uncertainty which, in retrospect, are regrettable. To protect against such adverse consequences in bankruptcy, there are and should be safeguards in place to prevent creditors from imposing unreasonable restrictions on a debtor at the immediate onset of an involuntary case. In
In resolving a motion for leave to file an amended complaint to add new claims, the United States Bankruptcy Court for the Southern District of New York in Hosking v.
Overview
In In re Nine West Holdings, Inc., the United States Bankruptcy Court for the Southern District of New York overruled the U.S.
The Bankruptcy Court for the District of Delaware recently faced a question of first impression: whether an allowed postpetition administrative expense claim can be used to set off preference liability. In concluding that it can, the court took a closer look at the nature of a preference claim.
Facts and Arguments
On June 14, 2016, Judge Thuma of the Bankruptcy Court for the District of New Mexico issued a memorandum opinion holding that a debtor could reject a prepetition settlement agreement that was determined to be executory in nature.