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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Now That’s What I Call Reasonable! Collateral Dispositions Under Article 9 of the UCC

May 8, 2013

Asset sales are commonplace in the restructuring industry.  Numerous cases and articles have been written of the “363 sale” process that takes place under the Bankruptcy Code.  The assets of current and former household names such as Lehman Brothers, General Motors, Chrysler, and Blockbuster have all changed hands through that mechanism.  Although it garners less [...]

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

May 7, 2013

Our loyal readers might recall that on Tax Day, we published the first installment of our four-part series on United States v. Bond, a decision from the United States District Court for the Eastern District of New York, which examines actions for federal income tax refunds sought by three affiliated telecommunications entities (collectively referred to [...]

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(You Gotta) Fight for Your Right (To [Arbitrate]!)

May 6, 2013

As we have written in prior posts (see here, here, here, here, and here), the arbitrability of disputes in bankruptcy is still largely uncharted territory when the disputes involve consideration of bankruptcy and non-bankruptcy issues.  Every freshly published case that tackles the topic is a valuable nugget that sheds light on the judicial analysis leading [...]

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Supremely Moot: SCOTUS Denies Challenge to Equitable Mootness Doctrine and Second Circuit’s Charter Communications Decision

May 3, 2013

The Supreme Court of the United States recently denied a petition for a writ of certiorari submitted by two investment firms whose challenges to the Charter Communications, Inc. chapter 11 plan of reorganization had previously been dismissed as equitably moot.  The petition was filed in response to the decision R2 Investments v. Charter Communications, Inc., [...]

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Not Everything Is Bigger in Texas – The Fifth Circuit’s Recent Cramdown Interest Decision

May 2, 2013

One of the Weil Bankruptcy Blog’s ongoing projects is to monitor various court dockets around the country and gather the latest and greatest decisions on cramdown interest rates for secured claims under section 1129(b) of the Bankruptcy Code.   Today, we review the Fifth Circuit’s recent decision in In re Texas Grand Prairie Hotel Realty, L.L.C..  [...]

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New Fee Alert: New Claims Transfer Fee Takes Effect Today

May 1, 2013

Starting today, anyone filing a claims transfer notice pursuant to Bankruptcy Rule 3001(e) will have to pay a $25 fee for each claim that is transferred.  The fee is assessed for each claim transferred, even if only part of a claim is transferred and even if multiple claim transfers notices are filed together.  The fee [...]

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