A recent decision from the U.S. Bankruptcy Court for the District of Montana highlights the limits of the term “interests” under § 363(f) of the Bankruptcy Code and the limits of “good faith” under § 363(m). In In re Mountain Divide LLC, Case No. 16-61015-11 (Bankr. D. Mont.
[1]“Critical vendor” status is a blessing. Without such status, an unsecured creditor may receive little to no recovery in a traditional chapter 11.
In business reorganizations under chapter 11, third-party releases are important tools that often facilitate consensual plans of reorganization, greater recovery for creditors, and an expedited resolution of bankruptcy cases, particularly where a debtor faces mass tort claims.
Throughout 2017 and continuing into 2018, the Young and New Members Committee (the “Y&NM Committee”) leadership produced a variety of helpful materials and programs, and continued to encourage new and young ABI members to become more active in the organization. Just some of those highlights are discussed below.
Conference Programs
Like their for-profit counterparts, nonprofit corporations face a variety of challenges throughout their corporate life cycles, some of which may lead an organization to pursue reorganization under chapter 11 of the Bankruptcy Code.[1] One of the issues that arises during a nonprofit’s reorganization is whether its board of directors m
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.
Bankruptcy trustees are armed with several familiar tools to recover assets for the benefit of the bankruptcy estate. One commonly used tool is state law avoidance powers, which is granted to trustees by § 544(b). However, trustees (and their attorneys) should be aware that § 548 provides an additional, independent cause of action to avoid transfers.
Section 522(b)(3)(A) of the Bankruptcy Code generally permits a debtor to claim exemptions under the state or local law applicable on the date of the filing of the petition.[1] Which state or local exemption scheme applies is determined by a debtor’s domicile during the 730 days immediately preceding the petition date, but what happens
The collapse of a commercial construction project may result in reorganization or liquidation through an insolvency proceeding overseen by a bankruptcy trustee or receiver. As part of the wind-down process, following the liquidation of assets the fiduciary has an obligation to equitably distribute any remaining and recovered assets to the estate’s creditors.
[1]The Great Recession in the U.S., which began around 2008, caused numerous company failures. There were, however, some large, complex private-sector companies that the U.S.
