Features
Will Supreme Court Settle Sale of Tax Liens Issue?
There's a split among circuit courts on whether tax foreclosure sales may be avoidable as preferential and fraudulent transfers by property owners who subsequently seek relief under the Bankruptcy Code. If the Supreme Court eventually weighs in to resolve this circuit split, property owners, municipalities, and potential bidders for tax liens across the country will receive greater clarity on this critical issue.
Features
Bankruptcy Practices Using Slowdown to Restructure, Sniff Out Distressed Sectors
Bankruptcy practice leaders admittedly have some time on their hands, which they're using to sniff out insolvency in distressed sectors and market their services to existing and potential clients.
Features
Update on Bankruptcy Appellate Practice: Part Two — Equitable Mootness
This installment of our appellate practice series reviews recent cases addressing the equitable mootness doctrine. The issue ultimately often turns on whether it is practical and fair for an appellate court to review an appeal on the merits, enabling that court to avoid review altogether.
Features
Chapter 15 Can Impact Foreign Bankruptcy As Well As Domestic Civil Litigation
At first glance, Chapter 15 might appear to have the relatively minor role of staying actions against U.S. assets while the main foreign proceeding moves forward. However, as one recent case out of the Southern District of New York demonstrates, Chapter 15 carries the potential to significantly impact not only the main foreign bankruptcy, but civil litigation in the United States as well.
Features
Using Section 365(n) to Minimize Loss of Use of IP In Licensor Bankruptcy
This article provides an overview of Section 365 of the Bankruptcy Code, a key provision within the Code that allows a debtor to assume, assume and assign, or reject certain executory contracts and unexpired leases.
Features
Purdue Pharma Bankruptcy Settlement Vacation Could Bring More Scrutiny to Non-Debtor Releases
A ruling tossing OxyContin maker Purdue Pharma's bankruptcy settlement could tee up a new issue for the U.S. Supreme Court and spur other judges to more closely scrutinize non-debtor releases, a controversial mechanism that shields third parties in Chapter 11 proceedings from liability.
Features
Update On Bankruptcy Appellate Practice: Part One — Appellate Standing
Recent cases show that appellate courts continue to wrestle with standing, jurisdiction, mootness, excusable neglect and finality, among other things. The following overview, in a series of installments, shows what the courts have been addressing during just the past three years. This first installment will cover appellate standing.
Features
Guidance on Distributions As 'Disbursements' and U.S. Trustee Fees
In a recent case from the Bankruptcy Court for the District of Delaware, In re Paragon Offshore PLC, the bankruptcy court provided guidance on whether a post-plan effective date litigation trust's distributions constituted disbursements subject to the U.S. Trustee fee "tax."
Features
SCOTUS Passes on Bankruptcy Law Cases, Leaving Circuit Court Splits
'Purdue Pharma' Looms Although four cases presenting important bankruptcy issues were teed up for the Supreme Court's consideration this term, the Court denied certiorari for each. Each of these petitions involve splits among the circuit courts of appeals, influencing choice of venue and the extent to which bankruptcy decisions are subject to meaningful appeal.
Features
State Attorneys General Issue Support for Bankruptcy Venue Reform Legislation
Attorneys general from 41 states, along with Puerto Rico and Guam, have issued a statement in support of legislation before Congress geared toward stopping corporations from venue-shopping bankruptcy cases.
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