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On Jan. 22-25, 2018, a bench trial occurred in Gary F. Seitz, Chapter 7 Trustee of Covenant Partners, L.P. v. William B. Fretz, Jr. and John P. Freeman (In re Covenant Partners, L.P.), 2018 U.S. Dist. LEXIS 156652 (E.D. Pa. 9/13/18) (Seitz), an adversary proceeding in In re Covenant Partners, L.P., No. 14-17568-SR, Bankr. E.D. Pa. in which the Trustee of Debtor, Covenant Partners, L.P., sued for breach of fiduciary duty.
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Seventh Circuit Applies Safe Harbor to Private Securities Transaction
By Michael L. Cook
“… [T]he term ‘securities contract’ as used in [Bankruptcy Code] §546(e) unambiguously includes contracts involving privately held securities,” The Seventh Circuit held in Petr v. BMO Harris Bank, N.A.
By Lawrence J. Kotler and Elisa Hyder
In Lafferty v. Off-Spec Solutions, the U.S. Bankruptcy Appellate Panel of the Ninth Circuit held that the discharge exceptions under Section 523(a) do not apply to corporate debtors under Subchapter V of Chapter 11 of the Bankruptcy Code.
Merchant Cash Advances Could Be More Trouble Than They’re Worth
By Joseph Pack and Jessey Krehl
As small-business owners have continued to struggle in an uncertain economy, a growing number have begun the dangerous practice of relying on merchant cash advances — essentially seeking financial shelter in a lion’s den.
Biotech Industry Bankruptcy Case Update: ‘Zymergen’ and ‘Humanigen’
By Edward E. Neiger, Marianna Udem and Joo Hee Park
This Bankruptcy Case Update focuses on the recent biotech industry bankruptcy cases of Zymergen and Humanigen.
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