Since it burst onto the Bankruptcy Code scene in 2005 with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), section 503(b)(9) of the Bankruptcy Code, which affords a creditor administrative priority for the value of goods the debtor received within 20 days prior to its bankruptcy fi

INTRODUCTION

Creditors contemplating the bold step of commencing an involuntary bankruptcy case against a putative debtor may wish to consider a recent decision of the Bankruptcy Court for the District of Minnesota Court, 

On June 19, 2014, the Bankruptcy Court for the Southern District of New York once again granted Australia-based Octaviar Administration Pty Ltd. chapter 15 recognition as a foreign main proceeding, six months after the Second Circuit overturned an earlier order granting the same relief.

Where a document filed under seal in a bankruptcy case has nothing to do with the bankruptcy itself, is the public entitled to access the document?  The United States District Court for the Eastern District of Virginia considered this unique question in Robbins v.

The COVID-19 pandemic hit the bottom line of many businesses. Among the hardest hit industries has been the travel industry and, in particular, airlines and aviation companies. Many airlines are still struggling to generate new ticket sales as compared to pre-pandemic levels and average fares remain depressed.¹ One industry source predicts that passenger numbers will not return to 2019 levels prior to 2024.² Compounding this are increased costs of fuel (up 35% so far this year) and other expenses.³

The United States Court of Appeals for the Seventh Circuit recently held that numerous forbearances by a lender that allowed a single asset real estate borrower to stave off bankruptcy for four years provided value in the context of a constructive fraudulent transfer action. 1756 W. Lake St. LLC v. Am. Chartered Bank (In re 1756 W. Lake St. LLC), Case No. 14-1869 (7th Cir.

In today’s economic environment, the rights of secured creditors have become a hot topic around the figurative dinner table of bankruptcy professionals.  Inevitably, this conversation includes a discussion of those Bankruptcy Code provisions intended to protect the rights of secured creditors, including:

The hard work has been done – the plan has been negotiated and confirmed, the confirmation order has been entered, and holders of allowed claims (and maybe even interest holders) await their distribution under the plan. A plan, however, may require that creditors or equity holders take certain acts prior to participation in the plan distribution, or forfeit their right to participate.

On Wednesday, Congress announced the passage of the Bankruptcy Sale Incentive and Senior Support Act (“BSISSA”), which will make effective for those over age 65 a 15% discount on all 363 sales consummated on Tuesdays before 4:00 pm. House Speaker John Boehner made the announcement from a Golden Corral outside Scottsdale, Arizona. “We are pleased that BSISSA was supported by those on both sides of the aisle,” Boehner said.