The Oz Illusion: The Expert Behind the Curtain
June 28, 2006
Notwithstanding all the criticism of baseless opinions expressed in courts by experts, more often than we would wish to contemplate, case outcomes are dictated by expert witnesses ' and some of those witnesses have no empirical bases for the opinions that they express (Eaton, L., 2004. For Arbiters in Custody Battles, Wide Power and Little Scrutiny. <i>The New York Times</i>, 5/23, p. 1).
Converting a Chapter 7 to a Chapter 13
June 27, 2006
It has been a prevailing view in practice under the Bankruptcy Code that a Debtor has an absolute one-time right under Section 706(a) to convert a case from Chapter 7 to another Chapter, the most common scenario involving conversion from Chapter 7 to Chapter 13. However, two recent circuit level cases, reflecting the case law trend, have found that a motion to convert a Chapter 7 to a Chapter 13 may be denied if not made in good faith.
Pitfalls of Critical Vendor Litigation
June 27, 2006
The latest development in 'critical vendor' litigation occurred in the case where much of it began ' the Kmart Corporation bankruptcy case. On April 12, 2006, United State Bankruptcy Judge Susan Pierson Sonderby denied motions to dismiss lawsuits seeking the return of critical vendor payments, paving the way for the cases to proceed to trial. Although Judge Sonderby's decision was not published, this latest chapter of the Kmart story is worth noting.
Enron Court Says Transferred Claims Remain Tainted
June 27, 2006
two recent decisions by the Bankruptcy Court for the Southern District of New York serve to reemphasize a maxim well known to those regularly involved in the distressed debt industry. Participants in the market for distressed claims must be aware of the inherent risks and uncertainties in dealing with post-petition debtors, and they must protect themselves accordingly.
News Briefs
June 15, 2006
Highlights of the latest privacy and data protection news from around the country.
