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We found 1,170 results for "The Bankruptcy Strategist"...

Involuntary Bankruptcy: Limited Remedy and Strong Sanctions for Abuse
July 01, 2019
A bankruptcy court decision recently detailed how courts applying Bankruptcy Code §303(i) can sanction creditors who "abuse … the power given to [them] … to file an involuntary bankruptcy petition." The decision shows why the filing of an involuntary bankruptcy requires careful pre-filing legal judgment.
The Curious Case of Extraterritoriality and Fraudulent Transfer Under the Bankruptcy Code
July 01, 2019
<i>Courts Are Divided on the Issue of Whether the Fraudulent Transfer Recovery Provision Applies Extraterritorially</i><p>The U.S. Court of Appeals for the Second Circuit recently issued an opinion concluding that trustees can pursue recovery from foreign subsequent transferees who received property in transactions that occurred entirely outside the United States. The opinion reversed two lower court rulings and arguably conflicts with Supreme Court precedent on extraterritoriality of U.S. legislation.
Navigating the Attorney-Client Privilege and Work Product Doctrine in Bankruptcy
July 01, 2019
When a company declares bankruptcy, avoidance actions under Chapter 5 of the Bankruptcy Code can assist in securing extra cash for the debtor's dwindling estate. When a debtor-in-possession does not pursue these claims, creditors' committees often seek the bankruptcy court's authorization to pursue them on behalf of the estate. Once granted such authorization through a “standing order,” a creditors' committee is said to “stand in the debtor's shoes” because it has permission to litigate certain claims belonging to the debtor that arose before bankruptcy. However, for parties whose cases advance to discovery, such a standing order may cause issues by leaving undecided the allocation of attorney-client privilege and work product protection between the debtor and committee.
New York District Court Rules that Chapter 15 Recognition Is Not Prerequisite to Enforcement of Foreign Bankruptcy Judgment under Principles of Comity
June 01, 2019
It has been generally understood that recognition of a foreign bankruptcy proceeding under Chapter 15 is a prerequisite to the enforcement by a U.S. court of an order or judgment entered in such a foreign bankruptcy proceeding under the doctrine of "comity." A ruling recently handed down by the U.S. District Court for the Southern District of New York directly challenges that principle.
Safe Harbor Shields Shareholders In Tribune Fraudulent Transfer Litigation
June 01, 2019
The U.S. District Court for the Southern District of New York denied a litigation trustee's motion for leave to file a sixth amended complaint that would have asserted constructive fraudulent transfer claims against 5,000 Tribune Company shareholders. The safe harbor of Bankruptcy Code §546(e) barred the trustee's proposed claims.
'Fresh Start' Leads To Bankruptcy Discharge of Environmental Contamination Claims
June 01, 2019
One of the powerful benefits of bankruptcy is the ability to obtain a “fresh” start by obtaining a discharge of most, but not all claims that arose prior to the filing of the bankruptcy case. But when does a claim arise? This issue is especially complex when environmental contamination claims are involved.
Fifth Circuit Blocks Fraudulent Transferee's Good Faith Defense
May 01, 2019
"A … transferee [who] received fraudulent transfers with actual knowledge or inquiry notice of fraud or insolvency" loses any "good faith" defense available under the Texas version of the Uniform Fraudulent Transfer Act (TUFTA), held the Fifth Circuit in Janvey v. GMAG, LLC
What Has Merit Management Changed?
May 01, 2019
It has been nearly two years since the Supreme Court upended the world of the Bankruptcy Code securities safe harbor with its decision in <i>Merit Management Group, LP v. FTI Consulting, Inc.</i>. For all of the speculation regarding its consequences, there have been few subsequent lower court decisions applying <i>Merit Management</i>, however those cases provide valuable guidance to practitioners facing safe harbor litigation as well as transactional lawyers looking to take advantage of safe harbor protections.
A Clash Between 'Free and Clear' and Tenants' Rights Under Bankruptcy Code Section 365(h)
May 01, 2019
With the recent carnage in the retail industry, a lot of attention goes to the fate of landlords when their tenants seek bankruptcy protection. A recent case that brings balance is <i>Revel AC Inc. v. IDEA Boardwalk, LLC</i>.
Preference Attacks To Recover Prepetition Compensation Paid to Consultants of Troubled Companies
April 01, 2019
Employees of a troubled company who stay on as consultants to assist in liquidating its assets or preparing the company for a bankruptcy filing may later be disappointed to face claims to claw back their prepetition compensation.

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