The extent of a transferee’s knowledge in the context of fraudulent transfer claims under the Bankruptcy Code has been a frequent topic of discussion on the Weil Bankruptcy Blog. Recently, we examined the knowledge required to establish a transferee’s “good faith” defense under section 548(c) of the Bankruptcy Code. Now, the United States Court of Appeals for the Third Circuit in SB Liquidation Trust v. Preferred Bank, Nos. 13-1373 and 13-1959 (3rd Cir. Aug. 11, 2014) has provided more food for thought when it comes to the issue of a transferee’s knowledge, concluding that it is not necessary to plead the transferee’s knowledge of the fraudulent transfer to maintain a cause of action under section 548(a)(1) of the Bankruptcy Code. Continue reading >>

Back to School: Circuit Courts Provide “Cheat-Sheet” on Stern Consent Issues in Advance of the Supreme Court’s Consideration of Wellness Int’l Network v. Sharif

September 16, 2014

“Okay. Here we go. The short, short version.” – The Minister, Spaceballs “I meant what I said and I said what I meant.” – Horton Hatches the Egg, Dr. Seuss Remember CliffsNotes? (It’s ok – you can admit it now.) Well, in the two months since the Supreme Court granted certiorari in Wellness Int’l Network […]

Read the full article →

Walking a Mile in the Trustee’s Shoes: How s. 38 of the BIA can allow creditors to revive dismissed claims

September 15, 2014

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Patrick Riesterer and Mary Angela Rowe. Patrick Riesterer is an associate in the Insolvency and Restructuring group of Osler, Hoskin & Harcourt LLP and Mary Angela Rowe is an articling student at Osler, Hoskin & Harcourt LLP. In the recent case […]

Read the full article →

Weil Female Restructuring Partners Discuss Gender Gap Issues in WSJ

September 15, 2014

Marcia L. Goldstein, Co-Chair of the Firm’s Business Finance & Restructuring Department, along with Lori R. Fife, Debra A. Dandeneau, Jacqueline Marcus and Ronit J. Berkovich, all partners in Weil’s Business Finance & Restructuring Department, co-authored an opinion piece published by The Wall Street Journal’s “Bankruptcy Beat” titled “Weil Partners: Restructuring Doesn’t Have to Stay […]

Read the full article →

Momentous Decision in Momentive Performance Materials Part IV: Make-Wholes and Third Party Releases

September 12, 2014

This is the last entry in our four-part series analyzing Judge Drain’s widely read bench ruling issued on August 26, 2014 in connection with the confirmation hearing of Momentive Performance Materials and its affiliated debtors. In Parts I and II, we discussed Judge Drain’s conclusions regarding the appropriate calculation of cramdown interest rates for secured […]

Read the full article →

Momentous Decision in Momentive Performance Materials: Subordination Is as Subordination Does

September 11, 2014

As we began discussing this week in our previous entries, on August 26, 2014, Judge Drain of the Bankruptcy Court for the Southern District of New York issued a momentous bench ruling in connection with the confirmation hearing of Momentive Performance Materials and its affiliates. The decision grappled with a number of important topics in […]

Read the full article →

Momentous Decision in Momentive Performance Materials: Cramdown of Secured Creditors – Part II

September 10, 2014

On August 26, 2014, Judge Drain concluded the confirmation hearing in Momentive Performance Materials and issued several bench rulings on cramdown interest rates, the availability of a make-whole premium, third party releases, and the extent of the subordination of senior subordinated noteholders. This four-part Bankruptcy Blog series examines Judge Drain’s rulings in detail, with Part […]

Read the full article →