Features
Fifth Circuit Weighs In on Scope of Releases and Exculpation
In an important recent U.S. Court of Appeals for the Fifth Circuit decision, the court explored whether exculpation provisions protecting more than just the debtor and committee are appropriate.
Features
Are Voting Rights Provisions In Subordination Agreements Enforceable?
Subordination agreements often contain an agreement by the subordinated creditor that, if the issuer is a debtor in a bankruptcy case, the senior creditor can vote the claim of the junior creditor on any proposed Chapter 11 plan. If given effect, such a voting provision can give a senior creditor significant power, relative to both the subordinated creditor and other creditors, to support or oppose confirmation of a plan.
Features
The Duty and Benefits of Technology Competence
We all have experienced technology's dramatic effect on bankruptcy practice, particularly in the electronic filing of documents and in the electronic communication and sharing of information among parties.
Features
Update On Preference and Fraudulent Transfer Litigation
The appellate courts have been busy explaining or clarifying preference and fraudulent transfer law. Although novices may think the Bankruptcy Code (Code) is clear on its face, imaginative counsel have found gaps in the statute and generated rafts of litigation since the Code's enactment in 1979. Recent appellate decisions, summarized below, show that courts are still making new law or refining prior case law.
Features
Protecting a Trademark Licensor's Rights In a Bankruptcy Case
A recent bankruptcy case from the District of Delaware underscores the need for a trademark licensor to be alert to filings made in its licensee's bankruptcy case that may require prompt action by the licensor to protect its valuable rights under a license agreement.
Features
Commercial Lease Assumption Under Chapter 11 Bankruptcy
Given the potentially harsh consequence of failing to timely assume a vital lease, a Chapter 11 debtor must be vigilant to avoid a forfeiture. It is important to know, however, that all might not be lost even if the debtor misses this deadline.
Features
Supreme Court Finds 2017 Bankruptcy Fee Increases Unconstitutional But Leaves Remedy Unclear
The Supreme Court concluded that because the 2017 amendments exempted debtors located in two States, it was not "uniform" as it did not apply equally to all debtors regardless of where they were situated and, therefore, the statute was unconstitutional.
Features
It May Not Be Too Late to Assume That Lease
Given the potentially harsh consequence of failing to timely assume a vital lease, a Chapter 11 debtor must be vigilant to avoid a forfeiture. It is important to know, however, that all might not be lost even if the debtor misses this deadline.
Features
Second Circuit Insulates Innocent Friend from Corporate Debtor's Fraudulent Transfer Liability
The defendant "was a 'mere conduit' of [a] fraudulent transfer and cannot be liable to the bankruptcy estate for funds she never knew about," held the U.S. Court of Appeals for the Second Circuit in In re BICOM N.Y., LLC.
Features
Court-Based Student Loan Management Programs Can Facilitate Repayment of Debt Under Chapter 13
While bankruptcy traditionally has been seen as a challenging pathway for debtors with student loans, court-based student loan management programs have been adopted to facilitate the repayment and resolution of student loan debt within the Chapter 13 bankruptcy process.
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