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

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SDNY Narrows the Extraterritorial Reach of the Automatic Stay Available under Chapter 15 of the Bankruptcy Code for a Debtor in a Foreign Main Proceeding

The extent of the automatic stay’s extraterritorial reach under chapter 15 of the Bankruptcy Code has been more clearly defined by a memorandum decision entered on August 23, 2010 by the United States Bankruptcy Court for the Southern District of New

Bankruptcy Technical Corrections Act of 2010

On September 29, 2010, the House of Representatives passed H.R. 6198 , the "Bankruptcy Technical Correction Act of 2010" and referred it to the Senate Judiciary Committee. HR 6198 was introduced by Rep. John Conyers (D-MI) on September 23, 2010. The


Atlanta Bar Bankruptcy Section Meet & Greet Happy Hour

Wednesday, October 6, 2010 - 5:30 pm Meet and greet Judge Wendy Hageanu, recently appointed Bankruptcy Judge for N.D. GA. and toast the 5th anniversary of surviving BAPCPA. Location: No Mas! Cantina 180 Walker Street Atlanta, GA 30313 404.574.5678

September 17, 2010 and The Day the Music Died

The rock classic “American Pie” was inspired by the tragic death of three rock-n-roll greats, Buddy Holly, Ritchie Valens, and Big Bopper Richardson, in a plane crash on February 3, 1959. Don McLean famously coined the term “The Day the Music Died”

Insurer of Mortgage Backed Securities Sues Countrywide

A recent case provides some insight into the world of insurance obtained by subprime mortgage companies to back their mortgage backed securities. The insurance was purchased by the mortgage companies to enhance the credit worthiness of the mortgage

Section 366’s Backdoor: Closing the Forward Contract Loophole for Utility Suppliers

Contributed by Sara Coelho When a debtor files for bankruptcy protection, one of most important and least appreciated tasks is keeping the lights on. Like many creditors, once the debtor files its petition for bankruptcy protection, utilities can be

Debate Over Preemption Scope of Section 1123(a) Continues

Contributed by Elisa Lemmer The recent decision in In re Renegade Holdings confirming a plan of reorganization premised, pursuant to section 1123(a)(5) of the Bankruptcy Code, on preemption of state law has continued to fuel the unresolved circuit

Texas Bankruptcy Court Holds that Counterclaimant Waived Right to Jury Trial

In In re Endeavour Highrise L.P., 2010 WL 935359 (Bankr. S.D. Tex. Mar. 12, 2010), the bankruptcy court for the Southern District of Texas held that a party waived his Seventh Amendment right to a jury trial by filing a counterclaim in an

3 Biggest Warning Signs of a Bad Debt Relief Company

I was driving into work today and heard a radio advertisement that upset me and reinforced in my mind the reason I wrote my book. The ad from a debt relief company claimed that the new credit card legislation required lenders to reduce your credit

Can a Board of Directors of a Foreign Entity Appoint the Foreign Representative in a U.S. Chapter 15 Filing Without First Obtaining Authority from the Foreign Bankruptcy Court?

Contributed by Victoria Vron This was the question before the Court in Compania Mexicana de Aviacion, S.A. de C.V., Case No. 10-14182 (MG) (Aug. 16, 2010). In the Mexicana case, the United States Bankruptcy Court for the Southern District of New York