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U.S. Bankruptcy Court Denies Chapter 15 Recognition to a Case on the Isle of Man Image

U.S. Bankruptcy Court Denies Chapter 15 Recognition to a Case on the Isle of Man

Daniel A. Lowenthal

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.

Features

The NFT Market and Fallout from the FTX Scandal Image

The NFT Market and Fallout from the FTX Scandal

Mark Cianci, Charles Humphreville, Kelley Chandler & Ty Owen

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?

Features

Appellate Review of a Bankruptcy Court's Preliminary Injunction Image

Appellate Review of a Bankruptcy Court's Preliminary Injunction

Michael L. Cook

A bankruptcy court preliminary injunction should be reviewable as of right because of Supreme Court precedent, the rulings of other courts and common sense.

Features

Second Circuit Orders Refund of Unconstitutional Quarterly Fee Overpayment Image

Second Circuit Orders Refund of Unconstitutional Quarterly Fee Overpayment

Francis J. Lawall & Marcy J. McLaughlin Smith

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.

Features

What's In Store for Bankruptcy In 2023? Image

What's In Store for Bankruptcy In 2023?

Dan Roe

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.

Features

Another Appellate Court Vacates A Bankruptcy Court Contempt Judgment Image

Another Appellate Court Vacates A Bankruptcy Court Contempt Judgment

Michael L. Cook

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.

Features

What Can We Learn from the FTX Bankruptcy? Image

What Can We Learn from the FTX Bankruptcy?

Steven Salkin

The sudden and spectacular crash of crypto-exchange FTX will send long-lasting tremors through both the nation's financial regulatory and bankruptcy landscapes.

Features

Successor Liability Claims Constitute a 'Property Interest' for Purposes of a 363 Sale In Bankruptcy Image

Successor Liability Claims Constitute a 'Property Interest' for Purposes of a 363 Sale In Bankruptcy

Rudolph J. Di Massa Jr. & Malcolm Bates

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.

Features

District Court Provides Guidance on 'Psychedelic Confusion' Image

District Court Provides Guidance on 'Psychedelic Confusion'

John J. Rapisardi & Matthew Kremer

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.

Features

Inflation, Interest Rates, and Already-Increasing Commercial Bankruptcy Filings Image

Inflation, Interest Rates, and Already-Increasing Commercial Bankruptcy Filings

Erich N. Durlacher

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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