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ABI Journal

New York

Loss of Voting Rights Must Be Expressly Stated to Be Enforceable, District Judge Says

MPM Silicones makes law again, this time on subordination of junior secured lenders.

2nd Circuit
New York
New York Southern District

Tuition Payments by Insolvent Parents (Likely) Constitute Fraudulent Transfers

District judge in Brooklyn overturns the bankruptcy court and again exposes colleges and universities to the receipt of fraudulent transfers when insolvent parents pay their childrens’ tuition.

2nd Circuit
New York
New York Eastern District

New York Judge Dismisses an Involuntary Petition Against a CDO

Judge Vyskocil denounces an involuntary petition as an attempt by senior, fully secured noteholders to profit at the expense of subordinate noteholders.

2nd Circuit
New York
New York Southern District

Chrysler Wrongful Death Suits Barred in Alabama While Permitted Elsewhere

An Alabama statute designed to aid wrongful death claimants ends up hurting them in Chrysler’s bankruptcy.

2nd Circuit
New York
New York Southern District

U.S. Judge Willing to Split with the U.K. over Chapter 15 Foreign Recognition

Judge Glenn criticizes an 1890 English decision refusing to enforce a foreign discharge of debt.

2nd Circuit
New York
New York Southern District

‘Innocent’ Transferee Held Potentially Liable for Payment from a Ponzi Scheme

With partial success, trustee sues the casino where a fraudster gambled away stolen money.

2nd Circuit
New York
New York Eastern District

New York and Delaware Agree: Releases Are Constitutionally Ok in Confirmation Orders

Chief District Judge in New York rules that ‘core’ jurisdiction includes non-consensual, third-party releases in confirmation orders.

2nd Circuit
New York
New York Southern District

District Judge Rules Section 562 Does Not Apply to Terminations by Agreement

Section 562 applies to fix the date for calculating damages only if the debtor rejects or the creditor terminates, New York district judge says.

2nd Circuit
New York
New York Southern District

Section 363(m) Won’t Protect a Buyer with Detailed Knowledge of an Adverse Claim

A bankruptcy judge’s finding regarding status as a good faith purchaser is not the final word on appeal.

2nd Circuit
New York
New York Southern District

Class Settlements After Confirmation Require Rule 23 Class Certification

Judge Glenn in Manhattan straightens up some of the mess created when GM didn’t disclose ignition switch defects before confirmation.

2nd Circuit
New York
New York Southern District
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