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ABI Journal

2nd Circuit

Second Circuit Affirmance Shows How Proper Structuring Avoids Merit Management

The Second Circuit shows how a properly structured leveraged refinancing avoids attack as a fraudulent transfer despite the Supreme Court’s effort at narrowing the ‘safe harbor.’

2nd Circuit

Second Circuit Allows Sale of ‘General’ Claims Subject to a Creditor’s Disputed Lien

Second Circuit leaves open the question of whether a trustee can sell a ‘general’ or ‘derivative’ claim that’s subject to a valid lien held by a creditor.

2nd Circuit

Upstate New York Bankruptcy Judge Nixes an ‘Opt-Out’ Plan with Nondebtor Releases

After Purdue, bankruptcy judges are now split on whether mass-tort plans are permissible if creditors must opt out.

2nd Circuit
New York
New York Western District

New York Court Holds that ‘Future’ Asbestos Claims Can Be Discharged Without a Trust

Professors disagree on whether latent asbestos claims can be discharged without a trust for future claimants.

2nd Circuit
New York
New York Southern District

Preserving Defensive Setoff Rights Doesn’t Require Filing a Claim, Judge Glenn Says

Defensive setoff rights are not discharged by chapter 11 confirmation, even when no proof of claim was filed.

2nd Circuit
New York
New York Southern District

Denial of a Debtor’s Motion to Dismiss a Petition Isn’t Appealable, Second Circuit Says

In practical effect, the Second Circuit’s opinion means that a chapter 7 debtor may never appeal denial of a motion to dismiss a petition.

2nd Circuit

Established Law Pointed Judge Lane Toward Dismissing Giuliani’s Chapter 11 Case

New York’s Judge Sean Lane saw no reason for forcing holders of a $148 million defamation judgment ‘to wait years’ for a ‘modest distribution.’

2nd Circuit
New York
New York Southern District

Misleading Ads to Poach a Debtor’s Customers Is No Stay Violation, Circuit Says

The Second Circuit gives competitors license to mount false advertising unless it’s ‘virtually certain’ to affect a debtor’s customer contracts or goodwill.

2nd Circuit

A Chapter 7 Case Raises Issues in Truck Insurance on Standing in Bankruptcy Cases

Judge Mastando in New York decided that a chapter 7 trustee has authority to put the debtor’s subsidiary voluntarily into bankruptcy.

2nd Circuit
New York
New York Southern District

MOAC Again: No Remedy for the Landlord Despite Beating Sears in the Supreme Court

On remand from the Supreme Court and the Second Circuit, the district court decides that the Mall of America landlord isn’t entitled to more than the bargain it made with Sears in 1991.

2nd Circuit
New York
New York Southern District
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