October 27, 2017

Plan’s Interest Rate Held to Govern Tax Claims, Not the Rate in the IRS Code

‘Strained’ argument by the IRS about recoupment didn’t overcome terms of a confirmed plan.

3rd Circuit, Delaware

October 26, 2017

Third Circuit Explains When Sale Orders Are Not Automatically Moot

Section 363(m) allows an appeal if the remedy won’t upset the sale itself, Third Circuit says.

3rd Circuit

October 24, 2017

Eleventh Circuit Approves Anti-Suit Injunction Protecting Non-Settling Defendant

Millennium-like third-party releases were approved without reaching constitutional issues.

11th Circuit

October 23, 2017

Second Circuit Splits with Third on Makewholes Occasioned by Bankruptcy

Till doesn’t apply in fixing cramdown interest rates in major corporate reorganizations, circuit says.

2nd Circuit

October 20, 2017

First Circuit Narrowly Defines Fiduciaries Who Are Prohibited Buyers of Estate Assets

First Circuit narrowly applies equitable mootness in a receivership sale.

1st Circuit

October 19, 2017

Using a U.S. Bank Precludes a Foreigner from Winning Dismissal Based on Comity

Stay violation and turnover suits held proper extraterritorial application of U.S. law.

2nd Circuit, New York, New York Southern District

October 16, 2017

ASARCO Read to Bar Fee-Defense Costs Even with a Fee-Shifting Agreement

Court shows antipathy to all theories seeking allowance of fees incurred in collecting fees.

5th Circuit, Texas, Texas Western District

October 16, 2017

Fraudulent Transfer Defendant Can’t Waive a Trustee’s Right to a Jury Trial

Filing a proof of claim would have precluded a jury trial in a fraudulent transfer suit.

11th Circuit, Florida, Florida Southern District

October 12, 2017

Unclaimed Distributions Go to the Treasury, Not to Other Creditors, Judge Says

Tennessee judge changes a practice established in 1995 regarding unclaimed distributions.

6th Circuit, Tennessee, Tennessee Middle District

October 11, 2017

Inaccurate Disclosure Nixes a $275 Million Energy Future Breakup Fee Approved a Year Earlier

Breakup fee cannot be paid if the court or regulators disapprove a proposed sale.

3rd Circuit, Delaware