Since the beginning of the 21st century and the first big wave of security enforcements in Germany, who holds the entitlement to enforce a share pledge between pledgees and insolvency administrators has caused countless disputes. This issue has now been resolved by a recently released judgment of the German Federal Supreme Court of 27 Oct 2022 (case no.: IX ZR 145/21), which has now held that pledged shares as well as pledges over certain other non-movable rights such as trademarks or patents can be enforced by the pledgee (only) and not by the administrator.
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Today, the UK Supreme Court considered for the first time the existence, content and engagement of the so-called “creditor duty”: the alleged duty of a company’s directors to consider, or to act in accordance with, the interests of the company’s creditors when the company becomes insolvent, or when it approaches, or is at real risk of, insolvency.
What happens when a shady businessman transfers $1 million from one floundering car dealership to another via the bank account of an innocent immigrant? Will the first dealership’s future chapter 7 trustee be allowed to recover from the naïve newcomer as the “initial transferee” of a fraudulent transfer as per the strict letter of the law? Or will our brave courts of equity exercise their powers to prevent a most grave injustice?
Can a nondischargeability suit survive after a claim is deemed “satisfied in full” under a confirmed plan? The Tenth Circuit recently considered this question in Bank of Commerce & Trust Co. v.
What does Memorial Day weekend mean to you? Perhaps it means having a nice long weekend with family and friends? Or spending hours sitting in traffic with all the people who are getting away from it all for the weekend? Or maybe you are a traditionalist and will spend the weekend getting all of your white clothes out of Manhattan Mini Storage. Well, for the Weil Bankruptcy Blog, the start of Memorial Day weekend means one thing — the return of Bankruptcy Beach Reading.
It’s nothing new in 2015 to say that social media has become a valuable part of any company’s marketing and public relations strategy. Companies now rely on sites like Facebook and Twitter to communicate with customers, advertise products, build brands, and shape public opinion. Despite the obvious value such accounts provide, however, it is not always clear what rights, if any, a company may have in a social media accounts associated with its businesses or brands.
All’s fair in love bankruptcy and war . . . except when one side decides to keep fighting after there’s been a truce. The petitioning creditors in In re BG Petroleum, LLC, a recent decision from the Bankruptcy Court for the Western District of Pennsylvania, apparently forgot this rule.