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Following decisions in 2021 from both the Delaware District Court and the Southern District of New York rejecting the Ninth Circuit’s controversial Sherwood Partners decision, [1] it appears that rumors of ABC state preference actions’ deaths have been greatly exaggerated. [2] State preference actions are indeed alive and well.
According to most courts, the failure to file a timely notice of appeal under Bankruptcy Rule [1] 8002 deprives the appellate court of subject-matter jurisdiction. [2] And even those courts holding that the deadline is not jurisdictional still hold that the deadline is mandatory. [3]
On Feb. 1, 2022, Hon. David S. Jones of the U.S. Bankruptcy Court for the Southern District of New York denied a motion to dismiss the chapter 11 cases of JPA No. 111 Co. Ltd. and JPA No. 49 Co. Ltd. (together, the “debtors”), each a Japanese single-purpose entity — finding that the debtors’ reversionary interest in unused retainer funds held by the debtors’ chapter 11 counsel established sufficient “ties” to the U.S. for purposes of chapter 11 eligibility under § 109 of the Bankruptcy Code [1].
With more than 900 members, the Bankruptcy Litigation Committee remains one of the largest and most active of ABI’s committees. Here is a quick update on the committee’s work in 2021.
A recent Second Circuit decision has shed light on the framework of the “good faith” defense as it intersects with provisions of the Bankruptcy Code and the Securities Investor Protection Act (SIPA). Sections 548 and 550 of Bankruptcy Code[1] authorize trustees (and debtors-in-possession) to avoid fraudulent transfers and recover proceeds from transferees.
One of the many ways the COVID-19 pandemic has upended litigation is by making in-person depositions, for the time being, practically impossible. But cases must still go forward, so courts and parties have increasingly turned to remote deposition technology to keep litigation moving. To effectively represent their clients, counsel must ensure that the depositions they take and defend remotely are just as effective as in-person depositions for their eventual use in motion practice, hearings or trials. This article briefly describes some best practices that can help you meet that goal.
As state and local governments begin to reinstate or expand restrictions on the operation of retail establishments and restaurants to curb the spread of the novel coronavirus, operators of such establishments and their lessors must again focus on who must shoulder the economic impact of that burden.
With more than 900 members, the Bankruptcy Litigation Committee remains one of the largest and most active of ABI’s committees. The committee, its leadership, and its members were quite busy in 2020 — a year unlike any other — so we wanted to give you a quick update on the committee’s work.
