#Hashtag: Thinking of Starting Your Own Marijuana Business?

October 10, 2014

Have you ever wanted to start your own marijuana cultivation and distribution business? Do you see billboards on the highway advertising pot-growing seminars and think, “Maybe I should go?” Does the grass seem greener on the other side? What was once a mere dream can be a reality now that several states have legalized the […]

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Brazilian Reorganization Plan: Fundamentally Fair or Wholesale Trampling of Creditors’ Rights?

October 9, 2014

The United States Bankruptcy Court for the Southern District of New York was recently presented in In re Rede Energia, S.A. with the question of whether a confirmed Brazilian reorganization plan for Rede Energia, S.A. should be enforced in the United States. Rede, one of the largest power companies in Brazil, filed a reorganization proceeding […]

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R-E-C-O-V-E-R: Find Out What It Means to the Third Circuit

October 8, 2014

Because we couldn’t possibly top Judge Fisher’s opening line, we’re borrowing it for our introduction of In re Daniel W. Allen, Sr., a recent decision from the Third Circuit: “Although the facts of this case include details of money transfers and offshore asset protection trusts in sunny South Pacific locales, its ultimate resolution involves nothing […]

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No Proof of Claim, No Problem: Bankruptcy Court Finds Declaration to Be Effective as Informal Proof of Claim

October 7, 2014

Regardless of whether a creditor has a claim identified in a debtor’s schedules of assets and liabilities, generally speaking, most attorneys representing creditors in the context of a chapter 11 case will advise their clients to file a formal proof of claim with the bankruptcy court.  Often this is just “belts and suspenders” and a […]

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Court Refuses to Equitably Subordinate Because Conduct Was Consistent With the Contract

October 6, 2014

Generally, the priority scheme in section 507 of the Bankruptcy Code dictates the order in which a creditor is paid. For this reason, creditors can usually predict their standing among the other creditors awaiting payment. Section 510(c) of the Bankruptcy Code, however, permits the bankruptcy court to, among other things, subordinate, on equitable grounds, all […]

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Dear Court: Please Forgive Me, But I Need a Continuance of My Trial Due to Yom Kippur

October 3, 2014

If you were to ask people on the street to name the first Jewish holiday that comes to mind, chances are a significant percentage would name Yom Kippur. A well-known Jewish holiday, Yom Kippur is considered to be the holiest day of the Jewish year and is observed by fasting, asking for forgiveness, and praying. […]

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Appellate Panel Teaches the Electric Slide, Sets Forth a Standard for Determining Whether Electricity Is a “Good” for Purposes of Section 503(b)(9)

October 2, 2014

“Why is electricity so expensive these days? Why does it cost so much for something I can make with a balloon and my hair?” – Dennis Miller And so we return to the debate about whether electricity is a “good” for purposes of section 503(b)(9) of the Bankruptcy Code – this time featuring our good […]

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