New York Court Holds: Claims for Electricity Don’t Get Priority Under Section 503(b)(9) Courts are divided on whether electricity supplied within 20 days of bankruptcy gives rise to an administrative priority claim. Read more about New York Court Holds: Claims for Electricity Don’t Get Priority Under Section 503(b)(9)
Claims Agents Are Barred from Making Money on the Side from the Claims Docket Bankruptcy Judge Sean Lane in New York barred a chapter 11 claims agent from selling the claims docket to a claims trader in return for a share of the fees earned by the trader. Read more about Claims Agents Are Barred from Making Money on the Side from the Claims Docket
Ordinary Excuses Won’t Justify Plan-Filing Delays in Subchapter V A fight between creditors justifies granting a Subchapter V debtor more time to file a plan, Judge Lane says. Read more about Ordinary Excuses Won’t Justify Plan-Filing Delays in Subchapter V
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. Read more about New York Judge Declines (for Now) to Enforce an Indonesian Plan in the U.S.
New York Bankruptcy Judge Declines to Follow Enron Decision by SDNY District Judge Claims traders are put on notice: Purchasing a claim doesn’t insulate the buyer from disallowance under Section 502(d). Read more about New York Bankruptcy Judge Declines to Follow Enron Decision by SDNY District Judge
Rule 2004 Discovery Barred for Use in Litigation Outside Bankruptcy Court Judge Sean Lane publishes an opinion to nip an improper discovery tactic in the bud. Judge Name - Do not use it. Sean H. Lane Read more about Rule 2004 Discovery Barred for Use in Litigation Outside Bankruptcy Court
Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition Allegedly repudiating U.S. dollar obligations won’t preclude a finding of property in the U.S., Judge Lane rules. Judge Name - Do not use it. Sean H. Lane Read more about Delay in Appointment of a Foreign Representative Isn’t Fatal to Chapter 15 Recognition
Huge Liquidated Damages Held Unenforceable in an Aircraft Lease Although the parties were sophisticated, New York judge finds that a liquidated damages clause was actually an unenforceable penalty. Judge Name - Do not use it. Sean H. Lane Read more about Huge Liquidated Damages Held Unenforceable in an Aircraft Lease
New York Judge Rails Against the Use of ‘Appearance Counsel’ Multiple ethical violations may occur with the use of so-called appearance counsel in consumer bankruptcies. Judge Name - Do not use it. Sean H. Lane Read more about New York Judge Rails Against the Use of ‘Appearance Counsel’
Claims Located in the U.S. Make a Foreign Debtor Eligible for Chapter 15 The Second Circuit’s Barnet opinion on Section 109(a)’s requirement of property in the U.S. is satisfied by claims located in the U.S. Judge Name - Do not use it. Sean H. Lane Read more about Claims Located in the U.S. Make a Foreign Debtor Eligible for Chapter 15