Reaffirmation agreements are appearing more frequently on courts' dockets because of changes implemented by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).
Young And New Members Committee
Committees
A recent decision of the Bankruptcy Court for the District of Delaware (court) halted a proposed §363 sale, and this decision could significantly impact future bankruptcy sales of retail businesses holding inventory on consignment. In re Whitehall Jewelers Holdings Inc., 2008 WL 2951974 (Bankr. D. Del. July 28, 2008).
![Photo of Philip J. Landau [1]](https://abi-org-corp.s3.amazonaws.com/committee/Authors/ABI_LOGO_62.jpg){kind=logo}
Two commonly misunderstood remedies in the young bankruptcy practitioner's tool box are the defenses of setoff and recoupment. Section 553 of the Bankruptcy Code preserves the nonbankruptcy right of a "creditor to offset a mutual debt owing by such creditor to the debtor that arose before the commencement of the case...." 11 U.S.C. §553(a).
The enactment of 11 U.S.C. §503(b)(9) as part of BAPCPA was widely lauded as providing a great benefit to trade creditors. Under §503(b)(9), a creditor shall be allowed an administrative expense for “the value of any goods received by the debtor within 20 days before the date of the commencement of a case under [Title 11 of the U.S.
Mr. John Richard O'Connor
Co-Chair
Levenfeld Pearlstein, LLC
Chicago, IL
(630) 308-2487
Co-Chair
Levenfeld Pearlstein, LLC
Chicago, IL
(630) 308-2487
Ms. Gabrielle G. Palmer
Co-Chair
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059
Co-Chair
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059
Mr. Matthew R. Pierce, Esq.
Communications Manager
Landis Rath & Cobb LLP
Wilmington, DE
(302) 467-4400
Communications Manager
Landis Rath & Cobb LLP
Wilmington, DE
(302) 467-4400
Ms. Joy D. Kleisinger
Education Director
Frost Brown Todd LLC
Cincinnati, OH
(513) 651-6800
Education Director
Frost Brown Todd LLC
Cincinnati, OH
(513) 651-6800
Ms. Megan Clontz
Membership Relations Director
Ferguson Braswell Fraser Kubasta PC
Plano, TX
(972) 378-9111
Membership Relations Director
Ferguson Braswell Fraser Kubasta PC
Plano, TX
(972) 378-9111
Ms. Tirzah Roussell
Membership Relations Director
Dentons Davis Brown
Des Moines, IA
(515) 246-7984
Membership Relations Director
Dentons Davis Brown
Des Moines, IA
(515) 246-7984
Amanda L. Haugland
Newsletter Editor
Davis Graham & Stubbs LLP
Denver, CO
(303) 892-7312
Newsletter Editor
Davis Graham & Stubbs LLP
Denver, CO
(303) 892-7312
Ms. Ciara L. Rogers
Special Projects Leader
Waldrep Wall Babcock & Bailey PLLC
Raleigh, NC
(984) 480-2005
Special Projects Leader
Waldrep Wall Babcock & Bailey PLLC
Raleigh, NC
(984) 480-2005