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Bankruptcy and restructuring attorneys Nancy A. Mitchell, Maria J. DiConza, and Matthew Hinker have joined the New York office of O’Melveny & Myers LLP. Ms. Mitchell and Ms. DiConza will join as partners and Mr. Hinker as counsel. All three previously practiced together at Greenberg Traurig, where Ms. Mitchell was co-chair of the firm’s Global Restructuring and Bankruptcy practice and co-managing shareholder of the New York office. Ms. DiConza, brings more than 20 years of experience in complex financial restructuring and debtor and lender/creditor representations across industries including food services, municipal, healthcare, manufacturing, energy, financial services, and for-profit education. Mr. Hinker focuses his practice on complex Chapter 11 bankruptcy proceedings, adversary proceeding litigation, and other insolvency-related matters.
By Mark Page
Mission Product Holdings, Inc. v. Tempnology, LLC
The question is whether a debtor’s rejection of its agreement granting a license “terminates rights of the licensee that would survive the licensor’s breach under applicable nonbankruptcy law.”
By Theresa A. Driscoll
With increasing frequency, Chapter 7 trustees are looking to insolvent parents as well as colleges and universities to avoid and recover for estate creditors payments made by insolvent debtors for the benefit of the debtors’ dependents. These cases are premised on the theory that the tuition payments being made by insolvent parents for the benefit of their children are avoidable as constructively fraudulent transfers because the parents do not receive reasonably equivalent value in exchange for the payment of such tuition. Courts are divided as to whether the payment of a child’s tuition provides reasonably equivalent value to the insolvent parents.
By Stephanie Lieb and Dana Robbins
In its recent opinion in Taggart v. Lorenzen, the Supreme Court decided that “[a] court may hold a creditor in civil contempt for violating a discharge order if there is no fair ground of doubt as to whether the order barred the creditor’s conduct.” Although this standard appears to be new, it is more than a century old and “brings the old soil” from civil contempt with it.
By Michael L. Cook
A bankruptcy court decision recently detailed how courts applying Bankruptcy Code §303(i) can sanction creditors who “abuse … the power given to [them] … to file an involuntary bankruptcy petition.” The decision shows why the filing of an involuntary bankruptcy requires careful pre-filing legal judgment.