Delaware Bankruptcy Court

Opinion Rules that Shareholder Meetings Continue During Bankruptcy

04/06/15

In an 19 page opinion issued April 1, 2015 in the SS Body Armor I, Inc. Bankruptcy (10-11255), Judge Sontchi held that an action to compel a shareholder meeting is not barred by the automatic stay of 11 U.S.C. 362.  The Opinion is Available Here.

Background

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Karmaloop, Inc. Formation Meeting and Section 341 Meeting Scheduled

03/26/15

In the Karmaloop, Inc. bankruptcy proceeding, a formation meeting has been scheduled for Wednesday, April 1, 2015 at 10:30 a.m. (ET) at the DoubleTree Hotel, 700 King St., Salon C, Wilmington, DE 19801.  Click Here for a copy of the Notice of Formation Meeting for Official Committee of Unsecured Creditors issued by the Office of the United States Trustee.  If you want to be considered for Committee membership, you MUST complete a questionnaire and return it to the U.S.

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Trump Decision – Administrative Claims of Employees

03/10/15

In an 11 page opinion (the “Opinion”) released March 9, 2015, in the Trump Entertainment Resorts, Inc. bankruptcy (Case No.

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Trump Wins Relief From Stay – No More Trump Casino in AC?

02/23/15

In a 21 page opinion (the “Opinion”) released February 20, 2015, in the Trump Entertainment Resorts, Inc bankruptcy (Case No.

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RadioShack Pulls the Plug

02/08/15

In an unsurprising move, RadioShack has become the latest retailer to file for relief under Chapter 11 of the Bankruptcy Code.  RadioShack filed on February 5, 2015 along with 17 of its affiliates.  The cases are jointly administered under Case Number 15-10197 and presided over by Judge Shannon.  The emergency first day motion was held on February 6, 2015, and a further first day hearing will occur at 9:30 on February 9, 2015.

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Lessons from Chapter 13 – When is 8% Not Really 8%

01/23/15

In ruling on a very unfortunate situation (more on that below), Judge Shannon issued an opinion on July 24, 2014 in the Aro bankruptcy, holding that a state court decision concerning the validity of a lien cannot be challenged in Bankruptcy Court.  In the opinion in this case issued on January 22, 2015 (the “Opinion”), Judge Shannon analyzed the value of the lien and applicable interest rates.  The Opinion is available here.

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Liberty Brands Opinion – Preference Litigation and the Bankruptcy Court’s Constitutional Limits

12/27/14

In 6 pages of Findings of Fact and Conclusions of Law released December 19, 2014 in the Liberty Brands bankruptcy (Bank. D. Del. 09-50965), Judge Walrath’s ruling referenced Stern v. Marshall, 131 S.Ct.

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NOLs – A Recoverable Transfer?

11/16/14

In a 27 page opinion released October 23, 2014 in the Conex Holdings case (Bank. D. Del.

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