On the Move
November 30, 2015
Who's going where; who's doing what.
Debtors Cannot Sell Unsecured Creditor's Collateral
November 30, 2015
Under Section 363(f) of the Bankruptcy Code, a debtor may sell property free and clear of a third-party's liens, claims and encumbrances only if that party "could be compelled, in a legal or equitable proceeding, to accept a money satisfaction" of that party's interest in the property. However, in a recent case, the judge was faced with a relatively rare scenario.
For-Profit Colleges
November 02, 2015
The author opines that If Chapter 11 were available to post-secondary schools, rehabilitation for those schools whose problems are balance-sheet issues but not academic or management, would be possible. The result, among others, would be to preserve the institution, the value of credits earned by students and the value of degrees confirmed to alumni.
My New BFF Is a Smart VDR
November 02, 2015
Review of SmartRoom, a secure virtual data room)that was first conceived to securely host due diligence documents for an expedited Chapter 11 asset sale of multiple properties with multiple potential bidders.
Ninth Circuit Insulates Corporate Insider from Preference Liability
October 02, 2015
"A corporate insider who personally guaranteed" the debtor's loan was not liable on a bankruptcy trustee's preference claim when the corporate debtor repaid its lender, held the U.S. Court of Appeals for the Ninth Circuit on May 6, 2015. This article analyzes the ruling.
Social Security Benefits in Divorce Cases
October 02, 2015
One of the most important family law issues that vary from state to state is the question of whether Social Security benefits should be considered or offset when making property determinations. There is quite a bit of law on the subject and a thorough review of your own state's applicable law is required.
Postscript on Equitable Mootness
October 02, 2015
Last month, the Third Circuit handed down another important equitable mootness decision, <I>In re Tribune Media Co.</I> This article discusses the ruling.
Advancement Claims Not Entitled to Priority in LLC Receivership
October 02, 2015
In two recent Delaware Court of Chancery decisions, Vice Chancellors Donald F. Parsons Jr. and Sam Glasscock III both concluded that the claims for advancement were not entitled to priority treatment as administrative expenses of the receivership. The cases underscore the importance of obtaining D&O liability insurance regardless of the existence of advancement and indemnification provisions in the entity's organizational documents or the party's employment agreement.
All's Well That Ends Wellness:
October 02, 2015
In May 2015, the Supreme Court once again weighed in on the issue of bankruptcy court adjudication of <I>Stern</I> claims and provided us with a measure of clarity in its recent opinion, <I>Wellness International Network, Ltd., et al. v. Sharif.</I> This article explores the background, the facts, the holding and the aftermath of this decision..
