Martin Glenn

Debtor Granted Absolution for a 10-Day Delay in Serving a $40 Million Preference Suit

Although there wasn’t ‘good cause’ to excuse late service of a summons and complaint, the bankruptcy court salvaged a large preference by exercising discretion and granting a 10-day expansion of the 90-day deadline.

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U.S. Incorporated Subsidiaries ‘Likely’ Have Chapter 15 COMI in Canada, Not the U.S.

U.S. subsidiaries of a Canadian parent were under the control of a Canadian receiver, switching COMI from the U.S. to Canada.

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Opting Out Is Consent for Nondebtor Chapter 11 Releases, New York Judge Says

Another bankruptcy court in New York holds that the ability to opt out of nondebtor releases represents consent after Purdue.

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After Purdue, Two Courts Still Permit Broad Nonconsensual Releases in ‘15’

Bankruptcy courts in New York and Delaware believe that Purdue did not change the law and that nondebtor releases and exculpations are still permissible in chapter 15 cases.

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Preserving Defensive Setoff Rights Doesn’t Require Filing a Claim, Judge Glenn Says

Defensive setoff rights are not discharged by chapter 11 confirmation, even when no proof of claim was filed.

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New York Judge Rejects a ‘Lockup’ Long Before a Plan Is Negotiated

New York’s Judge Martin Glenn disapproved a lockup agreement masquerading as a plan-support agreement that required the creditor to vote for any plan the debtor might propose.

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Lawyer Hit with $47,000 in Sanctions for Filing Fictitious Schedules

A lawyer was found to have committed fraud on the court for filing schedules claiming ownership of property that another court had found not to be the debtor’s property.

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