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U.S. Bankruptcy Court Denies Chapter 15 Recognition to a Case on the Isle of Man
Cases interpreting Chapter 15 of the Bankruptcy Code after it was enacted in 2005 often addressed basic issues, such as whether a foreign debtor must have property in the U.S to file a case there. But even when there's no property in the U.S., there's an easy remedy: the foreign administrator can deposit a retainer payment with its U.S. law firm.
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The NFT Market and Fallout from the FTX Scandal
The FTX bankruptcy scandal that has shaken the largely unregulated cryptocurrency world has slowed but isn't likely to end the roll-out of celebrity-related, non-fungible digital token (NFT) offerings. But how might the FTX story impact a push for federal regulation of the NFT market?
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Appellate Review of a Bankruptcy Court's Preliminary Injunction
A bankruptcy court preliminary injunction should be reviewable as of right because of Supreme Court precedent, the rulings of other courts and common sense.
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Second Circuit Orders Refund of Unconstitutional Quarterly Fee Overpayment
Many practitioners have been speculating as to how courts will address the potential remedy for the unconstitutional U.S. trustee fees imposed against Chapter 11 debtors pending in U.S. trustee districts under the 2017 amendment to 28 U.S.C. Section 1930.
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What's In Store for Bankruptcy In 2023?
Practitioners Weigh In If anyone was holding out hope for a tidal wave of corporate bankruptcies in 2022, it's time to abandon ship. If that was part of your 2023 budget, don't get on the ship altogether.
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Another Appellate Court Vacates A Bankruptcy Court Contempt Judgment
The Southern District of New York vacated a bankruptcy court's judgment holding a debtor's business competitor "in contempt for violation of the [Bankruptcy Code's] automatic stay … and assessing sanctions" of $19.2 million.
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What Can We Learn from the FTX Bankruptcy?
The sudden and spectacular crash of crypto-exchange FTX will send long-lasting tremors through both the nation's financial regulatory and bankruptcy landscapes.
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Successor Liability Claims Constitute a 'Property Interest' for Purposes of a 363 Sale In Bankruptcy
In In re Norrenberns Foods, the U.S. Bankruptcy Court for the Southern District of Illinois had occasion to rule on a creditor's objection to the sale of a debtor's assets.
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District Court Provides Guidance on 'Psychedelic Confusion'
The U.S. District Court for the Southern District of New York recently provided critical guidance on what the court observed as the "psychedelic confusion" surrounding the intersection of Bankruptcy Code §365, governing the assumption and rejection of executory contracts, and Bankruptcy Code §503, governing administrative priority.
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Inflation, Interest Rates, and Already-Increasing Commercial Bankruptcy Filings
What Should Financial Institutions Do Now In Anticipation of a Potential (and Long-Awaited) Downturn What should a prudent lender be doing right now to "brace" itself for the coming financial uncertainty? Adopt a five-point "CAPER" strategy: Communicate, Analyze, Preserve, Execute, and Resolve.
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