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New York Southern District

U.S. Trustee Criticized for Dumping the ‘Jay Alix Protocol’

New York bankruptcy judge approves retention of a crisis manger under Section 363(b) who might be disqualified under Section 327(a).

2nd Circuit
New York
New York Southern District

Chapter 15 Allows Discovery Not Available under Foreign Law, District Judge Says

Arbitration agreement doesn’t preclude discovery in chapter 15, district judge rules.

2nd Circuit
New York
New York Southern District

GM Ignition Switch Litigation Makes Law on Punitive Damages and Law of the Case

Ten years later, courts are still sorting out who’s liable for Old GM’s failure to disclose a known defect.

2nd Circuit
New York
New York Southern District

Claims Located in the U.S. Make a Foreign Debtor Eligible for Chapter 15

The Second Circuit’s Barnet opinion on Section 109(a)’s requirement of property in the U.S. is satisfied by claims located in the U.S.

2nd Circuit
New York
New York Southern District

Chapter 15 Allows Discovery Not Available under Foreign Law, New York Judge Says

Bankruptcy Judge Shelley C. Chapman skirts an arbitration agreement to allow discovery.

2nd Circuit
New York
New York Southern District

Non-Consensual Third-Party Releases Pass Muster in Chapter 15

Principles of comity justify enforcing a U.K. scheme of arrangement that releases non-filed affiliates’ guarantees.

2nd Circuit
New York
New York Southern District

District Court Endorses Opt-Out to Confirm Substantive Consolidation Plans

Augie/Restivo problems are avoided by including opt-out provisions in a substantive consolidation chapter 11 plan.

2nd Circuit
New York
New York Southern District

Madoff Opinions Ease Pleading Requirements in Suits Against Subsequent Transferees

Bankruptcy Judge Vyskocil holds that alter ego need not be alleged to recover from a corporation’s sole shareholder as the beneficiary of a fraudulent transfer.

2nd Circuit
New York
New York Southern District

SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing

The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.

2nd Circuit
New York
New York Southern District

Flip Clauses in Swaps Held Enforceable by District Judge in New York

For swaps, the Section 560 safe harbor overrides the anti-ipso facto provisions in the Bankruptcy Code.

2nd Circuit
New York
New York Southern District
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