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Bankruptcy and corporate restructurings continue to be active despite generally strong U.S. financial markets and broader macroeconomic conditions. Below is a brief overview of three recent and noteworthy bankruptcy decisions within the Third Circuit.
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Supreme Court Defers to State Law on Ownership of Tax Refund
By Michael L. Cook
High Court Rejects Application of Bob Roberts Rule
Federal courts should “turn to state law to resolve” a “fight over a tax refund,” held a unanimous U.S. Supreme Court in Rodriquez v. FDIC (In re United W Bancorp., Inc.)
Expect Flurry of Bankruptcy Filings With Coronavirus Slowdown
By Lidia Dinkova
Potential Clients Are Reaching Out to Bankruptcy Attorneys to Assess the Need for Business Filings
Bankruptcy attorneys expected to get calls as the coronavirus pandemic swiftly slowed the economy — and they were right.
Asset Protection, Pre-Bankruptcy Planning and Code §727(a)(2)(A)
By Carlos J. Cuevas
This article examines asset protection and pre-bankruptcy planning and its impact on a debtor’s discharge through Bankruptcy Code §727(a)(2)(A).
A New Regime in Preference Litigation
By Steve Werth
One of the provisions of the Small Business Reorganization Act amends the language of Bankruptcy Code Section 547 — which gives trustees and debtors in possession the right to seek to recover a payment to a third party in the 90-day period prior to the commencement of a bankruptcy case as a “preference” — to add a due diligence requirement. Though the intent behind the added language seems clear, it may not have its intended effect.
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