Investing in an Appeal: The Dilemma Facing an Appellant of Confirmation Orders

on May 17, 2013 ·

Posted in Appeals,Automatic Stay

Weil Complex Commercial Litigation associate Eleanor Gilbane is author of the article “Investing in an Appeal,” published in the May 2013 issue of the American Bankruptcy Institute Journal.

The article focuses on appeals of confirmation orders and discusses the challenges facing appellants given the sizable bond requirement necessary to secure a stay and the risk of equitable mootness in the absence of a stay. Specifically, it discusses the appeal of the Adelphia confirmation years ago (Weil represented the appellants in that case) and compares it to the appeal of the Tribune confirmation order late last year.  It recommends that given these challenges, objectors to the confirmation order might be better served by negotiations and a settlement before the order is entered.

Please click here to read the full article.

May 16, 2013
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As part of our efforts to bring you the latest information on restructuring and bankruptcy issues, we at the Bankruptcy Blog are rolling out a new series called “What We’re Watching.”  Once a month, we will preview to our readers the cases on appeal that we are monitoring.  We’ll be sure to post updates periodically [...]

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I Would Do Anything for [Confirmation], But I Won’t Do That

May 15, 2013

Despite a valiant effort by the United States Bankruptcy Court for the District of New Mexico to give the debtor the benefit of every conceivable doubt, the debtor in In re Deming Hospitality, LLC  was unable to obtain approval of its proposed disclosure statement over the objections of, among others, a junior lien holder.  The [...]

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“Auditing” an EDNY Decision with a Plethora of Tax Issues (Part Three)

May 14, 2013

The third installment of our four-part series on the tax issues raised in United States v. Bond centers on the Prepetition 2001 Period.  As discussed in Part One, the debtors (collectively referred to as “PT-1” in this series) had filed a tax return for the Postpetition 2001 Period reporting and paying tax.  PT-1 later filed [...]

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No way out – Ontario insolvency court approves class action settlement that prohibits any affected person from opting out

May 13, 2013

NORTH OF THE BORDER UPDATE This article has been contributed to the blog by Mary Paterson and Patrick Riesterer. Mary Paterson is a senior associate in the litigation group of Osler, Hoskin & Harcourt LLP and Patrick Riesterer is an associate in the insolvency and restructuring group of Osler, Hoskin & Harcourt LLP. In the [...]

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Eurosail: Balance Sheet Test of Insolvency

May 10, 2013

CROSS-BORDER UPDATE UK’s Supreme Court rules it a question of judgment and steers a U–turn from ‘Point of No Return’ analysis UK’s Supreme Court has this week considered the application of the balance sheet test for insolvency in BNY Corporate Trustee Services Limited v Eurosail and others [2013] UKSC 28.  The decision is one of major [...]

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COMI Maybe? The Second Circuit Examines the Relevant Date for Determining a Debtor’s “Center of Main Interests”

May 9, 2013

A debtor in a foreign insolvency proceeding may petition a United States bankruptcy court for recognition of the foreign proceeding under chapter  15 of the Bankruptcy Code, which provides certain relief similar to that provided to debtors in bankruptcy cases pending in the United States and its territories.  When a foreign debtor seeks such recognition [...]

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