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Features
The “divestiture rule is not truly jurisdictional,” a Florida Bankruptcy court held in the recent ECI Pharmaceuticals case, which shows how one court analyzed when or when not to apply the divestiture rule.
Features
The Circuit split caused by MTE can and should be fixed by the Fifth and Seventh Circuits when the appropriate appeal reaches them. MTE reflects the more current analysis. It is unlikely that the Supreme Court will be able to resolve the split any time soon.
Features
Liability management exercises (LMEs) have gained considerable attention during the past few years. Whether intended for good purposes or not, LMEs have significantly disrupted the traditional loan business through aggressive priming and subordination tactics — leading some to characterize this phenomenon as lender-on-lender violence.
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Bankruptcy cases almost always involve a substantial loss of value. When that happens, disputes arise and claims are asserted among stakeholders. This case is a reminder that when assessing the viability of such claims, if a limited liability company has been utilized for the business, strict attention must be paid to the terms of the agreement, starting with an analysis of whether all fiduciary duties have been waived.
Features
In the case of In re Promise Healthcare Group, the Third Circuit, addressing an unresolved question within the circuit, recently held that a claim’s enforceability is evaluated as of the petition date, not at the time an objection to the claim is filed.