Rochellel's Daily Wire

March 13, 2024

Mainland Chinese Company Wins Foreign Main Chapter 15 Recognition in New York

With no opposition, a mainland Chinese company with an approved arrangement in Hong Kong might win foreign main recognition in the U.S.

2nd Circuit, New York, New York Southern District

March 11, 2024

Committees Don’t Dissolve Automatically on Chapter 11 Dismissal, District Judge Says

Bucking the weight of authority, a district judge allowed an equity committee to appeal dismissal of a chapter 11 case, where the committee wanted a chapter 11 trustee rather than dismissal.

2nd Circuit, New York, New York Northern District

March 01, 2024

A Foreign Branch of an FDIC-Insured U.S. Bank Is Ineligible for Chapter 15

A foreign branch of a U.S. bank isn’t a foreign bank eligible for chapter 15.

2nd Circuit, New York, New York Southern District

February 23, 2024

Rule 9006(b) Permits Bankruptcy Courts to Extend Statutes of Limitations

Extending statutes of limitations does not affect ‘substantive’ rights, thus the Rules Enabling Act does not preclude a rule from allowing an extension, Judge Julie Manning says.

2nd Circuit, Connecticut

January 10, 2024

Equity Governs When Lease Rejection May Be Retroactive to the Filing Date

The ‘cap’ for lease-rejection damages can start when the debtor attempts to surrender the premises.

2nd Circuit, New York, New York Southern District

January 08, 2024

How to Turn Prepetition Work into a Postpetition Administrative Claim

Prepetition brokerage fees characterized as rent under an aircraft lease were administrative claims to be paid in full under Section 365(d)(5).

2nd Circuit, New York, New York Southern District

December 08, 2023

Courts Are Split on Counting Future Rent Toward the $7.5 Million Debt Cap in Sub V

If future liability on unexpired leases and executory contracts is counted, many companies will be ineligible for Subchapter V of chapter 11.

2nd Circuit, New York, New York Southern District

December 01, 2023

Sub V Plan with Nondebtor Release Approved over Opposition from the Affected Class

A decision from a New York bankruptcy court makes nondebtor releases easier to obtain in Subchapter V than in large, mass tort chapter 11 cases.

2nd Circuit, New York, New York Southern District

November 29, 2023

Dispute over Part of a Claim Disqualifies an Involuntary Petitioner

The 2005 amendment to Section 303(b)(1) disqualifies an involuntary petitioner if there is a dispute as to even part of the creditor’s claim.

2nd Circuit, New York, New York Southern District

November 13, 2023

In MOAC on Remand, the Second Circuit Vacates the Order Assigning the Lease

The Second Circuit is remanding to district court for a ruling on the relief available to the landlord, given that the sale closed years ago.

2nd Circuit