In In re Intervention Energy Holdings, LLC, the question before the United States Bankruptcy Court for the District of Delaware was whether an investor who “bought and paid for [one] Common Unit (including all rights related thereto),”
In our latest installment of “Breaking the Code”, we take a look at a common section of the Bankruptcy Code that comes up in nearly every chapter 11 case: section 365(a). Section 365 contains one of the most powerful rights conferred upon a chapter 11 Debtor: the right to take a step back, evaluate its contracts and leases, and assume profitable agreements while rejecting unprofitable agreements.
We’ve previously written on various cases in which parties have sought to save or revive late filed pleadings by arguing those pleadings “relate back” to previously filed documents with varying degrees of success.
On February 25, 2016 we discussed decisions by two judges of the United States Bankruptcy Court for the District of Delaware adopting and expanding upon Judge Walrath’s decision in In re Boomerang Tube, Inc., which held that a bankruptcy estate may not compensate professionals under
In a decision with significant implications for investors and underwriters alike, the Court of Appeals for the Second Circuit has held that contribution claims arising from the purchase and sale of a security of an affiliate of the debtor can and should be subordinated under section 51
It has long been the case that secured creditors could be charged for the reasonable and necessary costs incurred to preserve the value of their collateral. This equitable principle emerges out of case law that predates not only the current Bankruptcy Code, but also its immediate predecessor, the Bankruptcy Act of 1938. As now codified in section 50
By the authority of the Heavenly Court, and by the authority of the earthly court, we hold it permissible to pray with those who have transgressed… — Kol Nidrei (Preamble)