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The current process for administering chapter 7 cases was established at a time when paper documents had to be hand-delivered to the courts for processing. It was an era of “runners.”
On Nov. 13, 2015, in the U.S. Bankruptcy Court for the Southern District of New York, Judge Glenn issued a memorandum opinion in In re Vivaro Corp., et al.[1] with the following rulings: (1) a claim objection against a foreign entity may be served by U.S.
It is generally recognized that a sale of assets free and clear of successor liability claims (a “free-and-clear sale”) enhances the value of the bankruptcy estate because the purchaser will pay a higher premium for assets that do not carry liability.[1] There is often a tension between creditors — who seek to maximize their recovery — and purchasers — who seek to avoid liability for the sins of their predecessors.
My Nebraska client has a problem, and he’s unhappy. He’s an $80,000 preference defendant in Delaware and must travel 1,200 miles (with his attorney) for a mandatory mediation of the disputed preference claim. Although he thinks that the claim is “bogus” (despite explanations to the contrary), he has a what-choice-do-I-have-but-to-capitulate perception of all this. So, here’s a proposal to address this problem: regional mediation hubs.
Business and banking attorneys frequently represent businesses or lenders (or even bondholders and trustees) involved in joint ventures, partnerships, acquisitions, initiatives, participation loans, or other financial or joint business relationships/ventures.
