Rochellel's Daily Wire

November 15, 2024

Sub V Trustee in Chapter 11 Can’t Be Enlisted to Pursue Avoidance Actions

District judge decides that an individual debtor has standing to appeal conversion from Subchapter V of chapter 11 to chapter 7.

2nd Circuit, New York, New York Southern District

October 17, 2024

No More Injunctions Barring Suits Against Nondebtors in a Diocese Sexual Abuse Case

An opinion by Bankruptcy Judge Carl L. Bucki might be read, incorrectly, to mean that Purdue precludes preliminary injunctions stopping suits against nondebtors.

2nd Circuit, New York, New York Western District

October 11, 2024

Giving Inferior Classes Nothing May Not by Itself Amount to ‘Fair and Equitable’

Conducting a valuation hearing on a cramdown plan isn’t always required.

2nd Circuit, New York, New York Southern District

September 27, 2024

Second Circuit Affirmance Shows How Proper Structuring Avoids Merit Management

The Second Circuit shows how a properly structured leveraged refinancing avoids attack as a fraudulent transfer despite the Supreme Court’s effort at narrowing the ‘safe harbor.’

2nd Circuit

September 05, 2024

Second Circuit Allows Sale of ‘General’ Claims Subject to a Creditor’s Disputed Lien

Second Circuit leaves open the question of whether a trustee can sell a ‘general’ or ‘derivative’ claim that’s subject to a valid lien held by a creditor.

2nd Circuit

September 04, 2024

Upstate New York Bankruptcy Judge Nixes an ‘Opt-Out’ Plan with Nondebtor Releases

After Purdue, bankruptcy judges are now split on whether mass-tort plans are permissible if creditors must opt out.

2nd Circuit, New York, New York Western District

August 21, 2024

New York Court Holds that ‘Future’ Asbestos Claims Can Be Discharged Without a Trust

Professors disagree on whether latent asbestos claims can be discharged without a trust for future claimants.

2nd Circuit, New York, New York Southern District

August 14, 2024

Preserving Defensive Setoff Rights Doesn’t Require Filing a Claim, Judge Glenn Says

Defensive setoff rights are not discharged by chapter 11 confirmation, even when no proof of claim was filed.

2nd Circuit, New York, New York Southern District

August 13, 2024

Denial of a Debtor’s Motion to Dismiss a Petition Isn’t Appealable, Second Circuit Says

In practical effect, the Second Circuit’s opinion means that a chapter 7 debtor may never appeal denial of a motion to dismiss a petition.

2nd Circuit

July 17, 2024

Established Law Pointed Judge Lane Toward Dismissing Giuliani’s Chapter 11 Case

New York’s Judge Sean Lane saw no reason for forcing holders of a $148 million defamation judgment ‘to wait years’ for a ‘modest distribution.’

2nd Circuit, New York, New York Southern District