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New York Southern District

Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition

Allegedly repudiating U.S. dollar obligations won’t preclude a finding of property in the U.S., Judge Lane rules.

2nd Circuit
New York
New York Southern District

Freezing a Chapter 7 Debtor’s Bank Account Doesn’t Violate the Automatic Stay

SDNY opinion seems to mean that a bank may freeze a debtor’s entire bank account at filing, without violating the automatic stay.

2nd Circuit
New York
New York Southern District

New York Judge Gives Reasons for Nixing Nonconsensual, Third-Party Releases

Bankruptcy Judge Wiles explains the jurisdictional, statutory and constitutional reasons why nonconsensual releases are improper in the Second Circuit except in exceptional circumstances.

2nd Circuit
New York
New York Southern District

After 12 Losses, Will Madoff Customers Stop Pursuing Claims Belonging to the Estate?

New York district judge is the most recent court to uphold an injunction implementing a $7.2 billion Madoff settlement.

2nd Circuit
New York
New York Southern District

An Adroitly Drafted Makewhole Is Allowable in Bankruptcy, New York Judge Says

Judge Bernstein distinguishes a Second Circuit opinion to rule that a makewhole premium is allowable in bankruptcy.

2nd Circuit
New York
New York Southern District

A Pension Withdrawal Claim Arises Before Withdrawal Occurs, Manhattan Judge Says

Bankruptcy Judge Wiles politely says that the Sixth Circuit reached the correct result for the wrong reason.

2nd Circuit
New York
New York Southern District

Chapter 15 Recognition Not Required to Enforce a Foreign Reorganization in the U.S.

Non-debtor, third-party release enforced along with granting international comity.

2nd Circuit
New York
New York Southern District

Solvent Debtor Required to Pay Default Interest 9% Above Prime

Equity didn’t favor chopping down the default rate when the debtor emerged from bankruptcy with substantial equity and all creditors were paid in full.

2nd Circuit
New York
New York Southern District

Huge Liquidated Damages Held Unenforceable in an Aircraft Lease

Although the parties were sophisticated, New York judge finds that a liquidated damages clause was actually an unenforceable penalty.

2nd Circuit
New York
New York Southern District

Judge Declines to Apply ‘Earmarking’ Defense to a GM Lien Avoidance

‘Old’ GM lenders lose again while attempting to avoid the consequences of a $1.5 billion mistake.

2nd Circuit
New York
New York Southern District
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