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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Celsius Preference Clawback settlement and Review by a Client 08-21-2024

Client Review below: " I contacted Jim seeking counsel as one of the 2000 defendants in the Celsius crypto bankruptcy clawback case. After a few short conversations with him, I quickly knew he was the right person for the job. Once the retainer was

Do “Champerty” Laws Impair § 363 Sales of Estate Claims? (Crabtree v. Allstate)

By: Donald L Swanson The general rule is that claims of the bankruptcy estate against third parties ( e.g., preference claims and tort claims) can be sold to third parties in a § 363 sale.[Fn. 1] However, a recent opinion from the U.S. Fifth Circuit

Weekly News – August 16

Sign up Now upcoming Roundtable Discussion (another) Wild Wild Week in the markets! Jones has a rough day, Altice making moves (maybe), Mitel heading toward BK?, Blink Fitness in BK, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Validity of Appointments and Reliability of UK Companies House Register

In the case of JDK Construction Limited the Court of Appeal had to consider whether an earlier decision by a High Court judge that liquidators had been validly appointed was correct. The answer to that question turned on whether the resolutions that

U.S. Supreme Court’s Purdue Pharma 4-Justice Dissent: How Did This Opinion Not Get A Fifth Vote?!!

By: Donald L Swanson Four U.S. Supreme Court justices (Kagan, Kavanaugh, Roberts and Sotomayor) provide the following summary of their Purdue Pharma dissent in the Purdue Pharma case. Wrong & Devastating Today’s five-justice majority opinion is wrong

Navigating Claims in Chapter 13

Join the Chapter 13 Academy‘s free webinar Thursday August 15 at 2 pm EDT for the inside scoop on claims process and pitfalls from a pair of experienced Chapter 13 trustees. You can submit questions in advance when you register. Did I say it’s free

(UK) Are preferential creditors unsecured creditors?

It seems like s248 of the Insolvency Act 1986 ( “Act”) is flavour of the month with the judiciary at the moment, with two recent cases analysing this in the context of administration extensions (read our previous blogs here and here ) and now a

Is the Proposed Guidance for Random Assignment in Civil Cases a Harbinger for Bankruptcy? Experts Weigh In

The U.S. Judicial Conference Committee on Court Administration and Case Management proposed guidance on March 12 1 to promote random case assignment in civil cases (not criminal or bankruptcy cases) in district courts. The Judicial Conference later

Weekly News – August 9

Sign up Now upcoming Roundtable Discussion Wild Wild Week! Del Monte dashes expectations, NJ new complex case rules, Cineworld restructures (again), private credit rankings, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

I’m out until August 26

I’ll be gone for two weeks I’m leaving for the longest vacation since I became a Virginia lawyer in 1985. If you want to talk to a qualified bankruptcy lawyer right away, I can suggest these two. Michael Sandler, in Woodbridge. Or Ashley Morgan, in

I’m out until August 26

I’ll be gone for two weeks I’m leaving for the longest vacation since I became a Virginia lawyer in 1985. If you want to talk to a qualified bankruptcy lawyer right away, I can suggest these two. Michael Sandler, in Woodbridge. Or Ashley Morgan, in

New Law on Tax Lien Foreclosures Helps Homeowners Protect Equity

Purpose of the Law On July 10, 2024 Gov. Phil Murphy signed into law a major revision of the New Jersey tax sale foreclosure process. The purpose of this revision is to help homeowners preserve some of the equity that they would have lost in the tax

Renewed Focus On Constitution’s Uniformity Requirement For Bankruptcy Laws (Siegel & Hammons)

By: Donald L Swanson The bankruptcy clause of the U.S. Constitution focuses on a requirement of uniformity. Here’s the Constitution’s language: “The Congress shall have power . . . To establish . . . uniform Laws on the subject of Bankruptcies

Reflections on The UK Pensions Regulator’s (TPR) Powers that could see Insolvency Practitioners facing £1million fines

There is a tension between UK insolvency and pensions laws. Put simply, this is because insolvency laws look to protect all of the company’s creditors, but pension laws seek to protect the interests of the pension creditors alone. When new offences

Bankruptcy Code v. Federal Arbitration Act . . . & The Constitution’s Uniformity Requirement

By: Donald L Swanson Provisions of the Bankruptcy Code and the Federal Arbitration Act can collide. How those collisions are to be sorted out remains an open question. The U.S. Supreme Court recently issued an opinion on remedies for a violation of

Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court Settlement Update

Celsius Bankruptcy Claw Back Adversary Proceedings in SDNY Bankruptcy Court Settlement Update Jim Shenwick, Esq. is proud to announce that he just settled another Celsius Bankruptcy Claw Back Adversary Proceedings in the SDNY. The client had been

Weekly News – August 2

LME outcomes analyzed, AMC nets full participation, Pluralsight surprises, Glenn’s angry again, WDTX takes over from SDTX, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Don’t Let Your Bank Pick Your Pocket

The right of your bank to take your money when you aren’t looking stops at your credit card. Your bank may be entitled by common law to setoff what it owes you from what you owe it on the garden variety debt. But the federal Fair Credit Bi l ling Act

Arbitration Rights Are Now Easily Waived?! (Supreme Court’s Thomas v. Pawn American)

By: Donald L Swanson Contracts can provide for the arbitration of disputes. And those arbitration rights are enforced by the Federal Arbitration Act. But contractual arbitration rights can be waived. And the question is this: Is it easy . . . or hard

July 2024 Ponzi Scheme Roundup

By Kathy Bazoian Phelps Below is a summary of Ponzi scheme activity reported for July 2024. There were at least 13 new Ponzi schemes revealed this month. Ponzi schemers received more than 22 years of prison sentences plus one life sentence. There