Fancy drafting by ‘brilliant financiers and lawyers,’ the judge said, didn’t validate an uptier transaction when the ‘effect’ was to release collateral without a two-thirds vote.

The self-insured retention can prevent a creditor from using the insurer exception to sue the insurance company with the debtor as a nominal defendant.

When a DIP sues a former officer, the bankruptcy ‘exception’ in a D&O policy provides coverage when the ‘insured vs. insured’ exclusion would otherwise deny coverage.

Contributions to 401(k) plans are deducted from ‘projected disposable income,’ even though the debtor was not making contributions before filing

Once the debtor loses the right to do business, taking customers for no consideration isn’t a fraudulent transfer, Judge Isgur holds.

Courts disagree on whether a repudiated contract remains executory.

Incivility may be acceptable in matrimonial matters, but not when the lawyer represents a debtor.

Neither the Bankruptcy Code nor state law permits reducing rent when government regulations restrict a debtor’s ability to generate income, Judge Isgur says.

Creditors are entitled to ‘default interest’ when the debtor is solvent.

Language in the documents prevented trusts from dissolving automatically when the trustee missed a deadline for extending the duration of the trusts, Judge Isgur said.