Business Reorganization

Plastronics, LTL and the “Texas Two-Step”

Nov 2022

‘Admin’ Claims for 20-Day Shipments Don’t Offset the New Value Defense, Circuit Says

A shipment received by a debtor within 20 days of filing gives the creditor both an administrative claim and a new value defense to a preference, the Eleventh Circuit says.

FERC Strikes Out a Third Time in the Fifth Circuit on Rejecting Power Contracts

FERC tried the patience of the Fifth Circuit by arguing again that the agency can bar a chapter 11 debtor from rejecting a filed-rate contract.

The Right to Credit Bid Does Not Preclude Charging a Buyer’s Premium at Auction

When a secured lender credit bids, a buyer’s premium can be a legitimate surcharge against the lender’s collateral, Judge Rodriguez says.

Third-Party Releases