Option III – Structured Bankruptcy Dismissals are Alive and Well Even After Jevic

Intro Justice Breyer of the Supreme Court previously recognized that a chapter 11 bankruptcy case can generally lead to the following results: reorganization through a confirmed chapter 11 plan, where a deal with creditors can be achieved; conversion of the the case to chapter 7, where no deal with creditors can be achieved; and dismissal… Continue reading Option III – Structured Bankruptcy Dismissals are Alive and Well Even After Jevic

Could the “Collapsing Doctrine” be Used to Avoid an Extraterritorial Transfer?

In LaMonica v. CEVA Group PLC, et al. (In re CIL Limited), Adversary No. 14-02442 (Bankr. S.D.N.Y June 15, 2018), the Bankruptcy Court for the Southern District of New York was tasked with deciding whether the “collapsing doctrine” could be used to determine the situs of a fraudulent transfer, which was part of an international,… Continue reading Could the “Collapsing Doctrine” be Used to Avoid an Extraterritorial Transfer?

Chapter 11 Plan Adequately Reserved Bankruptcy Rights Transferred to a Liquidating Trust

The United States Bankruptcy Court of the Northern District of Texas recently held that a confirmed chapter 11 plan of a liquidated company, R.L. Adkins Corp. (the “Corporation”), was not required to specifically preserve bankruptcy-created rights of the Corporation against its former principal.  See Harvey L. Morton v. Robert Lewis Adkins, Sr. (In re Robert Lewis… Continue reading Chapter 11 Plan Adequately Reserved Bankruptcy Rights Transferred to a Liquidating Trust

Fifth Circuit Denies Late-Filed Proof of Claim

In re DLH Master Land Holding, L.L.C., Case No. 11-10781 (5th Cir. March 13, 2012) In In re DLH Master Land Holding, L.L.C., Case No. 10-30561-hdh, the Fifth Circuit Court of Appeals recently rendered an opinion affirming the lower courts’ ruling that Bank of America did not show “excusable neglect” warranting the allowance of its… Continue reading Fifth Circuit Denies Late-Filed Proof of Claim

Supreme Court Should Address Credit Bidding Rights

In In re River Road Hotel Partners LLC, 651 F.3d 642 (7th Cir. 2011), the Seventh Circuit Court of Appeals recently upheld the right of secured parties to credit bid their claims in asset sales conducted pursuant to a chapter 11 plan.  This holding is the opposite of the recent holdings by the Third and… Continue reading Supreme Court Should Address Credit Bidding Rights