Displaying with Topic Business Reorganization | ABI

April 18, 2018

Nondischargeability Is No Bar to Feasibility in an Individual Chapter 11

Holders of nondischargeable claims can be forced to accept pro rata payments during the life of the plan and collect the remainder only after discharge or dismissal, the BAP rules.

April 16, 2018

Leased but Unused Personal Property Qualifies for an Administrative Claim

Circuits are split on requiring use of leased equipment before allowing an administrative claim.

5th Circuit, Louisiana, Louisiana Western District

April 13, 2018

Barnhill Determines the Date of a Post-Petition Transfer, BAP Says

A post-petition transfer occurs when an ordinary check is honored, not when it is delivered.

April 12, 2018

Tribune Creditors Seek Reconsideration on Implied Preemption by the ‘Safe Harbor’

Following a suggestion made by two Supreme Court justices, Tribune creditors ask the Second Circuit to recall the mandate and remand for reconsideration in district court.

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 06, 2018

Unclaimed Oil and Gas Royalties Cannot Become Estate Property, Texas Judge Says

Confirmation order cannot turn someone else’s property into estate property.

5th Circuit, Texas, Texas Southern District

Chicago Wins One Round in Battle over Parking Tickets

The battle continues in Chicago over using chapter 13 to beat parking tickets.

7th Circuit, Illinois, Illinois Northern District

April 04, 2018

Delaware & New York Courts Still Agree on Treatment Among Undersecured Creditors

Post-petition interest accruals aren’t counted in figuring distributions among undersecured creditors with liens on the same collateral.

3rd Circuit, Delaware

Supreme Court’s Second ‘Safe Harbor’ Case Is in Limbo

Two justices recommend that the Second Circuit reconsider the ‘Tribune’ safe harbor decision in light of Merit Management.

April 03, 2018

Not a ‘Mechanical Rule,’ Judicial Estoppel Requires Benefit, Second Circuit Says

Judicial estoppel requires ‘an effort to game the bankruptcy system.’