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ABI Journal

New York

For the Cap on Lease Rejection Claims, Judge in the SDNY Adopts the ‘Time Approach’

Bankruptcy Judge Michael Wiles differed with his colleagues who in previous years had employed the ‘time approach’ in calculating a landlord’s rejection damages under Section 502(b)(6).

2nd Circuit
New York
New York Southern District

Crypto Customers Don’t Own Their Deposits with Celsius Network, Judge Glenn Says

Applying ordinary contract law, New York judge rules that customers are bound by contracts they haven’t read.

2nd Circuit
New York
New York Southern District

Claims Trader Criticized in New York for an Unauthorized PACER Filing

A court filing by a claims trader was stricken from the docket because it contained judges’ direct email addresses.

2nd Circuit
New York
New York Southern District

For Chapter 15 Recognition, the Foreign Proceedings Must Entail Insolvency

A foreign proceeding designed only to protect company assets won’t qualify as a ‘foreign proceeding’ entitled to recognition under chapter 15.

2nd Circuit
New York
New York Southern District

Security Interests Are Assignments of Accounts Receivable, New York High Court Says

Once an account debtor is notified to pay the lender, not paying an account receivable to the lender can mean that the account debtor pays twice.

2nd Circuit
New York

No Interlocutory Appeal from Madoff Rulings on Suits Against Feeder Fund Customers

Subsequent transferees of Madoff’s fraudulent transfers won’t have an interlocutory appeal from denial of their motions to dismiss.

2nd Circuit
New York
New York Southern District

In Mass Tort Cases, New York Judge Permits Redactions of Creditors’ Names

One month apart, two judges in New York differed on the extent to which they permitted redactions of information about creditors, their identities and addresses.

2nd Circuit
New York
New York Southern District

A Security Deposit Is an Unsecured Loan, Unless State Law or the Lease Says Otherwise

If a tenant’s security deposit was swept by the landlord’s secured creditor but was not held in trust, the tenant has no recourse other than to file an unsecured claim.

2nd Circuit
New York
New York Southern District

Madoff Fraud Makes More Law: The Safe Harbor’s Application to Foreign Liquidators

District judge holds that the safe harbor in Section 546(e) applies to lawsuits by foreign liquidators aiming to avoid transactions abroad under foreign law.

2nd Circuit
New York

Misleading Advertising to Poach a Debtor’s Customers Is No Stay Violation

False advertising that violates non-bankruptcy law isn’t necessarily a violation of the automatic stay, New York district judge says.

2nd Circuit
New York
New York Southern District
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