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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

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 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

February 21, 2018

Plan Confirmation Cuts Off Adverse Claims to Ownership of Debtor’s Property
Res judicata is flexibly applied again to bankruptcy cases.
2nd Circuit, New York, New York Southern District

January 24, 2018

The GM Creditors’ Trust Opens a Can of Worms by Nixing a Settlement
Bankruptcy judge finds bad faith for walking out on a fully documented but unsigned settlement.
2nd Circuit, New York, New York Southern District

December 27, 2017

The Proper Role of an Expert on Willful Blindness in a Fraudulent Transfer Suit
Madoff spawns more law, this time on expert testimony about the good faith defense to a fraudulent transfer with ‘actual intent.’
2nd Circuit, New York, New York Southern District

December 26, 2017

French ‘Safeguard’ Plan Held to Qualify for Enforcement in the U.S.
New York judge enforces a French reorganization similar to a U.S. prepack.
2nd Circuit, New York, New York Southern District