Features
Guidance on Distributions As 'Disbursements' and U.S. Trustee Fees
In a recent case from the Bankruptcy Court for the District of Delaware, In re Paragon Offshore PLC, the bankruptcy court provided guidance on whether a post-plan effective date litigation trust's distributions constituted disbursements subject to the U.S. Trustee fee "tax."
Features
SCOTUS Passes on Bankruptcy Law Cases, Leaving Circuit Court Splits
'Purdue Pharma' Looms Although four cases presenting important bankruptcy issues were teed up for the Supreme Court's consideration this term, the Court denied certiorari for each. Each of these petitions involve splits among the circuit courts of appeals, influencing choice of venue and the extent to which bankruptcy decisions are subject to meaningful appeal.
Features
State Attorneys General Issue Support for Bankruptcy Venue Reform Legislation
Attorneys general from 41 states, along with Puerto Rico and Guam, have issued a statement in support of legislation before Congress geared toward stopping corporations from venue-shopping bankruptcy cases.
Features
Lateral Market for Bankruptcy Lawyers Not Stifled By Chapter 11 Slowdown
After a year filled with filings, commercial Chapter 11 bankruptcies fell off a cliff in 2021, causing bankruptcy lawyers to work on out-of-court restructurings or pivot to practices with overlapping skills such as real estate and commercial litigation.
Features
Appellate Court Holds FCC Penalty Claim Survives Chapter 11 Corporate Debtor's Discharge
A Chapter 11 corporate debtor's monetary penalty obligation owed to the FCC, resulting from "fraud on consumers," survived the debtor's reorganization plan discharge, even when the FCC "was not a victim of the fraud," the U.S. District Court for the Southern District of New York recently held.
Features
Payment Under Critical Vendor Order Does Not Bar Pursuing a Preference Claim
A supplier's receipt of payment under a critical vendor order does not bar the debtor or trustee from pursuing a preference claim to recover amounts paid prepetition to the vendor, according to a recent ruling from the U.S. Bankruptcy Court for the District of Delaware.
Features
Bankruptcy Court Provides Clarity on Unwritten Elements of Avoidance Actions under the Bankruptcy Code
The U.S. Bankruptcy Court for the District of New Mexico recently ruled that any attempt to avoid preferential or fraudulent transfers must be supported by evidence that the avoidance will benefit the debtor's estate and the debtor's creditors — not just the debtor itself.
Features
Plaintiffs Bar Not Happy with J&J's Shift of Liability to Victim Fund
A bankruptcy filing allows Johnson & Johnson to shift legal liability over its talc-based baby powder into a potential $2 billion compensation program for cancer victims, but not without a big fight from the plaintiffs bar.
Features
Retention of Title Disputes: Don't Take the Uniform Commercial Code for Granted
This article reminds us of the conflict-of-laws analysis at the heart of such retention of title disputes, and then discuss the multi-step UCC analysis that is also required.
Features
Second Circuit Applies Federal Bankruptcy Law, Not Securities Law, In Madoff SIPA Liquidation
The Second Circuit applied federal bankruptcy law when holding that good faith is an affirmative defense.
Need Help?
- Prefer an IP authenticated environment? Request a transition or call 800-756-8993.
- Need other assistance? email Customer Service or call 1-877-256-2472.
MOST POPULAR STORIES
- Top 5 Strategies for Managing the End-of-Year Collections FrenzyEnd of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.Read More ›
- The Self-Service Buyer Is On the RiseLaw firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.Read More ›
- Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.Read More ›
- Sink or Swim: The Evolving State of Law Firm Administrative SupportThe paradigm of legal administrative support within law firms has undergone a remarkable transformation over the last decade. But this begs the question: are the changes to administrative support successful, and do law firms feel they are sufficiently prepared to meet future business needs?Read More ›
- Tax Treatment of Judgments and SettlementsCounsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.Read More ›