Features
Bankruptcy Court Preliminary Injunction Held Not Appealable
A bankruptcy court's preliminary injunction was "not a final and immediately appealable order," held the U.S. District Court for the District of Delaware in In re Alcor Energy, LLC.
Features
Discharge of Student Loan Debt OK'd Under Brunner Standard
In January, a Southern District of New York U.S. Bankruptcy Chief Judge entered a decision granting summary judgment to a pro se debtor, finding that he debtor had satisfied the "undue hardship" standard set forth in Section 523(a)(8) of the Bankruptcy Code, and ordering the discharge of the student loan debt of more than $220,000.
Features
Lessor Repossession of Property on Eve of Lessee Bankruptcy
Voluntary Turnover or Face Contempt Lessors who repossess property immediately prior to a lessee bankruptcy filing may be required to return such property or face sanctions by the bankruptcy court. Federal courts are currently split on the issue of whether the lessor must voluntary surrender property seized petition or may hold such property until such time as the debtor seeks, and obtains, an order of turnover.
Features
Tips to Minimize Landlord's Exposure When a Commercial Tenant Files Bankruptcy
Landlords often have clues that a tenant is going to be filing for bankruptcy, rental payments are consistently late several months in a row and the tenant falls more than a month behind on the rent. But, it can still be shocking when a landlord receives a legal notice in the mail, instead of a rent check.
Features
Recent Developments in Third Circuit Bankruptcy Law
Bankruptcy and corporate restructurings continue to be active despite generally strong U.S. financial markets and broader macroeconomic conditions. Here is a brief overview of three recent and noteworthy bankruptcy decisions within the Third Circuit.
Features
Move Quickly: Supreme Court Holds that Bankruptcy Court's Denial of Motion for Relief from the Automatic Stay Is a Final Appealable Order
In a recent, unanimous opinion authored by Justice Ginsburg, the U.S. Supreme Court affirmed lower court decisions holding that a bankruptcy court order denying a motion for relief from the automatic stay constitutes a final order that must be appealed within the time provided under Federal Rule of Bankruptcy Procedure 8002.
Features
Tips to Minimize Landlord's Exposure When a Commercial Tenant Files Bankruptcy
Because bankruptcy can add significant expenses and increase the time it takes to remove a delinquent tenant, landlords should not allow tenants to fall far behind on rental payments. Here are some tips on how to address the issues raised by a bankrupt tenant.
Features
Bankruptcy Court Denies Motion for Fee Enhancement Under 'Common Fund Doctrine'
The U.S. Bankruptcy Court for the Western District of Virginia recently denied creditors' counsel's motion for a fee enhancement under the "common fund doctrine," finding it could not award the requested fees absent statutory authority.
Features
Examining the Interplay Between Exculpation Clause and Fiduciary Duty
In the case of In re Solutions Liquidation, the U.S. Bankruptcy Court for the District of Delaware adjudicated a motion to dismiss filed by the debtors' former managers and officers in connection with the breach of fiduciary duty complaint filed against them by the trustee of the debtors' liquidating trust.
Features
Sixth Circuit Considers Rejection of a Filed Power Purchase Agreement
The provisions of the Bankruptcy Code sometimes conflict with other federal laws and regulations. The Sixth Circuit Court recently considered whether an energy company debtor could reject a power purchase agreement as an executory contract that had been filed with the Federal Energy Regulatory Commission (FERC)
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