January 16, 2017

Judge Bonapfel Sides with Fifth Circuit on ‘Equivalent Value’ in Ponzi Schemes

Innocent suppliers to Ponzi schemes are given protection from fraudulent transfer claims.

11th Circuit, Georgia, Georgia Northern District

January 13, 2017

PROMESA Is No Clone of the Bankruptcy Code, First Circuit Says

On stay modification, secured creditors shoulder the entire burden.

1st Circuit

January 13, 2017

Preference Law Held Not to Have Extraterritorial Application

New York’s Judge Bernstein delves into the splits on extraterritoriality.

2nd Circuit, New York, New York Southern District

January 12, 2017

New York District Judges Are Split on Drawing Inferences of Fraud from Executives

Reversed by one district judge, Bankruptcy Judge Gerber was lauded by another on the same issue.

2nd Circuit, New York, New York Southern District

January 11, 2017

Circuit and District Courts Split on Maritime Liens in the Wake of Bankruptcy

O.W. Bunker bankruptcy tees up decisive Second Circuit rulings on liens for ‘necessaries.’

2nd Circuit, New York, New York Southern District

January 10, 2017

Delaware Judge Disregards Committee Fee Cap if a Chapter 11 Plan Is Confirmed

Standard carveout only limits committee counsel fees if no chapter 11 plan is confirmed.

3rd Circuit, Delaware

January 10, 2017

Salary Paid for Poor Performance Is No Fraudulent Transfer

Conclusory allegation about insolvency doesn’t overcome a 10-K showing solvency.

5th Circuit, Louisiana, Louisiana Eastern District

January 09, 2017

Direct Circuit Review Isn’t Possible from Proposed Findings and Conclusions

A Stern-infected decision can’t be appealed directly to a court of appeals, the Eleventh Circuit says.

11th Circuit

January 06, 2017

On the Means Test, Fourth Circuit Allows Chapter 7 Debtors the Best of Both Worlds

Deadlines for direct appeal to the circuit are procedural, not jurisdictional.

4th Circuit

January 05, 2017

Lease Rejection Cap Doesn’t Apply to Past-Due Rent Accrued Before Rejection

Ninth Circuit refuses to apply Section 506(b)(6) to all damages related to lease claims.

9th Circuit