%1
Trading in Bankruptcy Claims Is Dominated by Crypto and Binary Claims
What’s been going on in the bankruptcy claims marketplace over the past year? Crypto, crypto, crypto, sprinkled in with a little bit of trucking, courtesy of the Yellow Corp. case. [1]
Third Circuit Rules Appointment of an Examiner Is Mandatory; Is It Time to Amend the Statute?
The Third Circuit has a reputation as being a “plain meaning” court — meaning that it strictly construes and applies the words of a statute. Its Jan. 19, 2024, opinion in In re FTX Trading Ltd. [1] is an example. The relevant facts in the “highly complex” FTX bankruptcy were few and straightforward as they related to the question before the court: “whether 11 U.S.C. § 1104(c)(2) mandates bankruptcy courts to grant the U.S.
Co-Chairs’ Corner: Year in Review (2023)
The Business Reorganization Committee had a busy and successful 2023, and we are already looking forward to another great year in 2024.
Over the past year, committee members took advantage of the many benefits afforded them, including the committee’s newsletters and educational programs, and have taken part in active discussions over the listserv regarding hot topics and industry trends. We have big plans for 2024, and we thank our committee members and leadership for their support and continued participation.
The Not-so-Certain Right of Intervention Under 11 U.S.C. § 1109(b)
Does an unsecured creditors’ committee have an unconditional right to intervene in an adversary proceeding related to a chapter 11 case? Courts are undecided — and just last year, the U.S. Bankruptcy Court for the Southern District of Florida widened the split.
Sixth Circuit Holds that “Chargeback Debt” Under Merchant Agreement Accrues at Time of Initial Transaction, Not at Time of Chargeback
A merchant agreement is a contract between a business, as merchant, and a financial institution governing the terms and conditions of electronic payment processing services provided by the financial institution to the business. The typical merchant agreement requires the business to pay service fees to the financial institution in exchange for the ability to accept electronic payments from its customers. When a customer makes an electronic payment to the business, the financial institution credits the business’s account.
Current Topics in Health Care Restructurings
This panel of experts will discuss emerging trends from recent restructurings and bankruptcies in the health care industry, with a special focus on hospitals and biotechnology companies.
Dealing with Digital Assets
This panel will delve into issues involving digital accounts, cryptocurrency and NFTs, including how to getsecured and perfected, how to liquidate, and bankruptcy-specific considerations. The panelists also will discuss UCC Article 12 and its impact on the digital-asset world for secured parties, and help practitioners better understand the considerations and issues they should be spotting when advising their constituents on dealing with digital assets.
Examining Venue, Ethics and Bad-Faith Issues in 2020/2021 Bankruptcy Filings
Recent large bankruptcies like NRA, Boy Scouts of America, Roman Catholic Archdiocese, Purdue Pharma and J&J have invigorated debate over the longstanding issues of venue and bad faith in bankruptcy. This panel will explore matters surrounding venue and bad-faith filings, related ethics considerations, and the newest wave of reform initiatives.