The American Bankruptcy Institute Commission to Study the Reform of Chapter 11 today released its long-awaited, much-anticipated Final Report and Recommendations.
“There’s no place like home…”
-Dorothy Gale
The ability of a foreign debtor to avail itself of the protections of the Bankruptcy Code, such as the automatic stay, with respect to its property located within the United States is one of the most fundamental and valuable tools available to foreign debtors with domestically located property. When a foreign debtor obtains “recognition” of its principal insolvency proceeding by U.S.
During the 2008 financial crisis and its aftermath, it became commonplace for a distressed bank to be taken over(night) by the Federal Deposit Insurance Corporation (FDIC) and then sold, that same day, to another bank (or bank holding company) that agreed to take on the depository liability associated with the failed bank in exchange for its assets (and customer base). Some banks, however, survived the tidal wave of takeovers.
The United States Court of Appeals for the First Circuit contributed to a circuit split regarding jurisdiction in its recent decision in Pinpoint IT Services, LLC v. Rivera (In re Atlas IT Export Corp.).
The Supreme Court Gets Its Grammar on: Interpreting the Right to Postpetition Interest Under Section 506(b)
In this Throwback Thursday, piece we revisit the decision of the United States Supreme Court in U.S. v. Ron Pair Enters. In a 5-4 decision, the Supreme Court held that section 506(b) of the Bankruptcy Code permits a creditor to receive postpetition interest on an oversecured claim even if the creditor does not have the benefit of an agreement providing for interest on the claim.
This morning, the Supreme Court issued its hotly anticipated decision in Executive Benefits Insurance Agency v.
Courts Begin to Wrestle with the Impact of on a Debtor’s Ability to Recover Estate Property
This is the fifth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog. We have concluded that a hypothetical U.S.-based bitcoin exchange likely would not constitute a stockbroker or a