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New York Southern District

Civil Penalties for Defrauding Consumers Weren’t Discharged Under Section 1141(d)(6)(A)

Reversing the bankruptcy court, a district judge in New York held that a civil penalty wasn’t discharged even though the fraud wasn’t committed against the government.

2nd Circuit
New York
New York Southern District

District Judge Rakoff Explains Why the Debtor Alone May Assert a Cure Claim

A creditor can’t assert a cure claim, even though Section 365(b) doesn’t give the counterparty the sole right to demand a cure on assumption of an executory contract.

2nd Circuit
New York
New York Southern District

Being an ‘Officer’ Disqualifies Someone from a KERP, New York District Judge Says

Officers are presumptively disqualified from KERPs, “absent a strong showing that they do not perform any significant role in management,” a district judge in New York says.

2nd Circuit
New York
New York Southern District

IRA Withdrawals Aren’t Protected from Madoff Fraudulent Transfer Judgments

Madoff defendant socked with $280,000 in prejudgment interest for relitigating issues decided long ago.

2nd Circuit
New York
New York Southern District

Filing Chapter 15 as a ‘Litigation Tactic’ Didn’t Bar ‘Foreign Main Recognition’

Bankruptcy Judge Garrity didn’t impose a good faith filing requirement onto foreign main recognition of a chapter 15 case.

2nd Circuit
New York
New York Southern District

Judge Glenn Explains When Structured Dismissals and Comfort Orders Are Ok

Jevic didn’t ban structured dismissals when there is no violation of the rules of priority and the alternatives would create greater administrative insolvency.

2nd Circuit
New York
New York Southern District

U.S. Suit Dismissed After German Defendant Files Insolvency in Germany

Filing a chapter 15 petition wasn’t required for a U.S. district court to dismiss a civil action against a German company undergoing insolvency in Germany.

2nd Circuit
New York
New York Southern District

New York Judge Declines (for Now) to Enforce an Indonesian Plan in the U.S.

Manhattan’s Bankruptcy Judge Sean Lane requires a record in the foreign proceeding showing that third-party releases are in accord with foreign law.

2nd Circuit
New York
New York Southern District

Bankruptcy Settlement Didn’t Discharge All Environmental Claims, New York Judge Says

Due process considerations persuaded District Judge Oetken to conclude that a creditor’s claims, unknown at the time, were not barred by a settlement.

2nd Circuit
New York
New York Southern District

Safe Harbor Bars Foreign Liquidators from Recovering Money Stolen in the U.S.

Another opinion shows that Congress wrote Section 546(e) in a manner that goes far beyond protecting the securities markets in the U.S.

2nd Circuit
New York
New York Southern District
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