By Tom McParland | October 18, 2019
While Citi was "reckless and deliberately indifferent" to the risk Bernie Madoff presented, its actions did not rise to the level of "willful blindness" necessary to claw back the funds, the judge concluded.
New York Law Journal | Analysis
By Peter Janovsky | October 10, 2019
The Bankruptcy Code's rules governing cram-down are complex and differ for secured and unsecured classes of creditors. This article shows how bankruptcy courts have ruled on a particular method of cram-down known as a "dirt-for-debt" plan.
New York Law Journal | Analysis
By Jennifer Pastarnack | October 7, 2019
This article highlights legal issues that may be oversimplified in current platforms and pose significant risks to buyers and sellers. While there are additional types of claims traded in the market, this article will focus on trade claims, also known as vendor claims.
New York Law Journal | Analysis
By Barbara M. Goodstein | October 2, 2019
In her Secured Transactions column, Barbara M. Goodstein discusses a recent Seventh Circuit decision in which the court reversed the lower court and held that a UCC-1 collateral description with nothing but a cross-reference to an unattached security agreement did "sufficiently indicate" the collateral for purposes of UCC Article 9.
By Arthur Steinberg and Michael R. Handler | September 20, 2019
Lenders must carefully analyze the full ramifications of how best to approach the constructive fraudulent transfer issue when it emerges in their bankruptcy case.
By Mark D. Silverschotz | September 20, 2019
This new decision is significant because lawsuits against former (and current) officers and directors of debtors commonly are brought by trustees, creditors' committees so-empowered by bankruptcy court orders, or, as here, by trusts established under plans of reorganization. Because insurance policies often are the only viable source of recovery for the claims asserted in such lawsuits, this decision potentially opens a pathway to creditor recovery in other similar matters.
By Angela Morris | August 28, 2019
"It almost brought tears to my eyes that anybody, any elected official, much less a judicial officer, would behave in such a manner," said Waco solo practitioner Doug Froneberger, who filed a judicial complaint against Bell County Justice of the Peace Pct. 4, Place 1 Judge Daryl Peters.
New York Law Journal | Analysis
By Peter A. Crusco | August 26, 2019
In his Cyber Crime column, Peter A. Crusco addresses the latest metamorphoses of the bogus UCC-1 notice of lien filing scam, its impact on the courts and remedies in New York.
New York Law Journal | Analysis
By Corinne Ball | August 21, 2019
In her Distress Mergers and Acquisitions column, Corinne Ball discusses two recent opinions from the Fifth Circuit that shed light on the scope of permissible bar orders and third-party releases of claims in the receivership context. Such bar orders may provide an effective alternative to third-party releases in bankruptcy in resolving mass tort cases.
New York Law Journal | Analysis
By Margaret A. Dale and Mark D. Harris | August 13, 2019
Corporate and Securities Litigation columnists Mark D. Harris and Margaret A. Dale discuss a recent opinion issued by the U.S. Bankruptcy Court for the District of Delaware, which held that a liquidation trustee who brought claims initially raised in an adversary proceeding by an unsecured creditors committee did not have standing to assert derivative claims on behalf of the debtor. The ruling raises a number of questions, which the authors address.
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