Features
The Domesticity Barrier to Recognition of a Foreign Proceeding Under Chapter 15
<b><i>How Low Can You Go?</b></i><p>In <i>In re B.C.I. Finances Pty Limited,</i> Judge Sean Lane reiterated the low domestic presence threshold (Domesticity) that a foreign representative must meet when it is petitioning for recognition of a foreign proceeding under Chapter 15.
Features
Lease Rejection in Shiekh Shoes
Store closing or liquidation sales are a routine part of Chapter 11 cases involving retail debtors. These sales are consistently authorized by bankruptcy…
Features
Due Diligence in Distressed Community Hospitals
Many community hospitals are in distress. The causes are varied but have a constant theme — the cost to adapt to a rapidly changing environment.
Features
Fifth Circuit Affirms Shareholder Veto of Chapter 11 Petition
“Federal law does not prevent a bona fide shareholder from exercising its right to vote against a bankruptcy petition just because it is also an unsecured creditor,” held the U.S. Court of Appeals for the Fifth Circuit in <i>In re Franchise Services of North America, Inc.</i> According to the court, applicable Delaware law would not “nullify the shareholder's right to vote against the bankruptcy petition.”
Features
State Attorney-Client Privilege Rule Incorporated into Federal Law
<b><i>Delaware Bankruptcy Court Protects Communications with Financial Professionals Originating In Delaware</b></i><p>Because state law applies at the time the transaction is negotiated, the parties might assume — reasonably so — that state privilege law will govern communications with their attorneys and financial professionals. But what happens if, years later, a fraudulent transfer plaintiff files suit in federal court and brings claims under federal law? Does state privilege law still apply?
Features
Chapter 11 Plan Proponents: Getting Service Right
This article reviews the detailed service basics of Rule 3017 of the Federal Rules of Bankruptcy Procedure and relevant portions of Rule 2002. In addition, it provides some tips on how to save time and money when executing service.
Features
New Bill Would Protect Law Licenses of Student Loan Defaulters
Nineteen states currently allow government agencies to revoke the professional licenses — including law licenses — of student loan defaulters. But that may change.
Features
Impact on Accusers of Court-Approved Weinstein Co. Sale
A Delaware federal bankruptcy judge's ruling in May approved the $310 million sale of The Weinstein Co.'s television and film assets to Dallas-based Lantern Capital Partners. The development was the latest blow to women who had hoped to recover against the company for abuses suffered at the hands of company co-founder Harvey Weinstein.
Features
Second Circuit Rejects Arbitration of Debtor's Asserted Discharge Violation
A bankruptcy court properly denied a bank's motion to compel arbitration of a debtor's asserted violation of the court's discharge injunction, the U.S. Court of Appeals for the Second Circuit held.
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