May 01, 2018
Contract Wages for Executives Are Not Presumptively Allowable Postpetition, BAP Says
An executive with a rejected contract must prove value to have an allowable administrative claim, 9th Circuit BAP says.
9th CircuitMarch 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 DistrictMarch 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 DistrictMarch 16, 2018
Judge Harner Pens a Primer on the Elements of an Executory Contract
Unperformed obligations must be ‘material’ for a contract to be executory.
4th Circuit, MarylandFebruary 28, 2018
Delaware Judge Nixes the Notion of Implied Assumption of Executory Contracts
An asset purchaser cannot escape liability for appropriating the benefits of a contract that was not assumed and assigned.
3rd Circuit, DelawareFebruary 16, 2018
A Trademark License Rejection Case May End Up in the Supreme Court
A case on the ability of state law to take property out of the estate after filing may not go to the Supreme Court.
Supreme CourtFebruary 12, 2018
Rejecting a Contract Precludes a Suit for Post-Petition Breach
Opinion ostensibly leaves a debtor without recourse for a supplier’s post-petition breach occurring before rejection.
5th CircuitJanuary 31, 2018
Alabama Judge Rejects Second Circuit’s Bankruptcy Act Opinion in Straus-Duparquet
There is no implied assumption of an executory employment contract under the Bankruptcy Code.
11th Circuit, Alabama, Alabama Northern DistrictJanuary 18, 2018
Asset Sale Appeals Are Moot Even if There Is a Jevic Violation, First Circuit Says
Waiving the automatic stay and immediately closing a sale does not make Section 363(m) inapplicable.
1st CircuitJanuary 17, 2018
Properly Read, Seventh Circuit Opinion Does Not Undercut DIP Financing
Opinion does not mean that a DIP financing lien terminates when collateral is transferred.
7th Circuit