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

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Weekly News – August 23

Goldilocks again! Incora new money claims go poof, private credit flexes its muscles, Judge Jones in the hot seat, and much, much more… ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏

Money Startups Are Booming--but So Are Bankruptcies INC.

Startups Are Booming--but So Are Bankruptcies. See the article at Inc. https://www.inc.com/chris-morris/bankruptcies-vc-backed-startups-rising… Jim Shenwick, Esq 917 363 3391 jshenwick@gmail.com Please click the link to schedule a telephone

Use and Abuse (?) of Restructuring Proceedings in Poland – How can Creditors Protect their Rights?

The statistics are clear that the number of restructuring proceedings in Poland is on rise. Among all types of restructuring proceedings available in Poland, the procedure which is of most interest is the approval of an arrangement, primarily because

Does A Canadian Retirement Plan Qualify For A Bankruptcy Exemption Tied To I.R.C. Requirements (Green v. Leibowitz)

By: Donald L Swanson Question: Can a retirement fund organized under Canadian law qualify for a state law exemption requiring that it “qualify as a retirement plan” under the Internal Revenue Code? This question gets all the way to the U.S. Seventh

Understanding 3 Common Types of Bankruptcy Litigation

Bankruptcy law can be a complex area of law and can involve litigation. It is important to understand the types of litigation that can occur during bankruptcy. In a bankruptcy, creditors have the right to file a lawsuit asking that their particular

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