September 15, 2020
Even though the price and terms were ‘entirely fair,’ Bankruptcy Judge Garrity disapproved DIP financing that would have locked in the right of controlling shareholders to purchase new stock at a 20% discount.
2nd Circuit, New York, New York Southern District
September 14, 2020
The government lost a winnable appeal by failing to present evidence in bankruptcy court.
3rd Circuit, Delaware
September 11, 2020
Bankruptcy Judge Glenn hints that the lenders and the debtor should mediate tough questions about the enforceability of a $150 million ‘sale’ of future credit card receivables.
2nd Circuit, New York, New York Southern District
September 09, 2020
Since they weren’t bankruptcy lawyers, the firm wasn’t disqualified for the first nondisclosure offense. The second time, Delaware’s Judge Dorsey ordered disqualification and disgorgement
3rd Circuit, Delaware
September 03, 2020
Language in the documents prevented trusts from dissolving automatically when the trustee missed a deadline for extending the duration of the trusts, Judge Isgur said.
5th Circuit, Texas, Texas Southern District
August 31, 2020
Pragmatic opinion by Circuit Judge Ambro allows cramdown to achieve ‘rough justice.’
3rd Circuit
August 28, 2020
Even when after a finding of bad faith, the court retains discretion to deny punitive damages, Third Circuit says. Compensatory damages are not available if the debtor was failing anyway.
3rd Circuit
August 26, 2020
Tenth Circuit and its BAP follow the same controlling authority but reach opposite results.
10th Circuit
