Rochellel's Daily Wire

April 26, 2018

Claims Located in the U.S. Make a Foreign Debtor Eligible for Chapter 15

The Second Circuit’s Barnet opinion on Section 109(a)’s requirement of property in the U.S. is satisfied by claims located in the U.S.

2nd Circuit, New York, New York Southern District

April 19, 2018

Chapter 15 Allows Discovery Not Available under Foreign Law, New York Judge Says

Bankruptcy Judge Shelley C. Chapman skirts an arbitration agreement to allow discovery.

2nd Circuit, New York, New York Southern District

April 11, 2018

Non-Consensual Third-Party Releases Pass Muster in Chapter 15

Principles of comity justify enforcing a U.K. scheme of arrangement that releases non-filed affiliates’ guarantees.

2nd Circuit, New York, New York Southern District

April 09, 2018

Debtor Successfully Claims an Exemption 19 Years after Discharge

Law v. Siegel allows exempting an asset that had not been scheduled.

2nd Circuit, New York, New York Western District

April 05, 2018

Structured Finance Protects Tuition Payments from Fraudulent Transfer Suits

Children were the initial transferees of tuition payments, thus giving schools the ‘good faith’ defense to fraudulent transfers.

2nd Circuit, New York, New York Eastern District

March 30, 2018

District Court Endorses Opt-Out to Confirm Substantive Consolidation Plans

Augie/Restivo problems are avoided by including opt-out provisions in a substantive consolidation chapter 11 plan.

2nd Circuit, New York, New York Southern District

March 28, 2018

Madoff Opinions Ease Pleading Requirements in Suits Against Subsequent Transferees

Bankruptcy Judge Vyskocil holds that alter ego need not be alleged to recover from a corporation’s sole shareholder as the beneficiary of a fraudulent transfer.

2nd Circuit, New York, New York Southern District

March 27, 2018

SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing

The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.

2nd Circuit, New York, New York Southern District

March 22, 2018

Court May Depart from the Code When the Debtor Consents and No One Objects

Unique facts were again the basis for a result seemingly at odds with the statute.

2nd Circuit, New York, New York Northern District

March 20, 2018

Flip Clauses in Swaps Held Enforceable by District Judge in New York

For swaps, the Section 560 safe harbor overrides the anti-ipso facto provisions in the Bankruptcy Code.

2nd Circuit, New York, New York Southern District