First enacted during the Great Depression, the Perishable Agricultural Commodities Act (PACA)[1] in part sought to protect the suppliers of fruits and vegetables who had been left unpaid when purchasers went bankrupt.
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It is been over a year since the unusual involuntary bankruptcy case of In re Scandia Seafood (New York) Inc. was tried on a motion by the assignee in an assignment for the benefit of creditors (ABC) to dismiss, and for sanctions against the petitioning creditors and their counsel.[1] What made the case unusual was that it con
Section 523(a)(6) of the Bankruptcy Code prohibits the discharge of debts “for willful and malicious injury by the debtor to another entity or to the property of another entity.”[1] Two decades ago, the Supreme Court clarified that “[t]he word ‘willful’ modifies the word ‘injury,’ indicating that nondischargeability takes a deliberate
A struggling real estate developer decided to do some asset-planning and transferred his partial interest in two properties to his wife as tenancy-by-the-entirety.[1] Three years later, he filed for chapter 7 bankruptcy and claimed the two properties as exempt under 11 U.S.C.
At what point does the policy of bankruptcy, a discharge that strongly favors the honest-but-unfortunate individual debtor, yield to creditor protections from fraudulent debtor behavior? This is a question the Supreme Court recently considered in its decision in Lamar, Archer & Cofrin LLP v. Appling.[1]
The Bernie Madoff investment scandal unleashed a slew of lawsuits, and at first glance, SPV OSUS Ltd. v. UBS AG[1] may seem like just another drop in the bucket. However, this case is notable for its expression of the Second Circuit’s rather extraordinary view of “related to” bankruptcy jurisdiction.
On Feb.
Editor's Note: Don is the Communications Manager for the Mediation Committee, and recipient of this year's Committee Leader of the Year for his work in 2017. We thank Don for his continued efforts and support!
Section 101(54) defines “transfer” to mean “each mode, direct or indirect, absolute or conditional, voluntary or involuntary, of disposing of or parting with[] (i) property; or (ii) an interest in property.”[1] But is a deposit or wire transfer into a debtor’s bank account a “transfer” within the meaning of § 101(54)?
Bankruptcy trustees have tested the limits of the § 546(e) safe harbor since its enactment. In case after case, the courts, with few exceptions, have expanded those limits — that is, perhaps, until now. On Monday, Nov. 6, 2017, the U.S. Supreme Court heard argument in the case of Merit Management Group LP v.
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