DelawareBankruptcyLitigation

Opinion in Syntax-Brillian – A Multitude of Lessons

05/12/16

In a 9-page opinion issued in the Syntax-Brillian case on May 11, 2016, Chief Judge Brendan L. Shannon lays out three principles of law that all litigants should know (if they don’t already).  A copy of the Opinion is available on the Court’s website: Here.  The Opinion was issued as a ruling on the motion of Alan Levine for relief from the order accepting the first-day-declaration of Gregory F. Rayburn.

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Standard Register Company Preference Actions Filed

05/09/16

On May 5, 2016, SRC Liquidation, LLC International Holdings, LLC (“Liquidating Debtor”), filed approximately 137 complaints seeking the avoidance and recovery of allegedly preferential and fraudulent transfers under Sections 547 and 550 of the Bankruptcy Code.  The Liquidating Debtor also seeks to disallow claims of such preference defendants under Sections 502(d) and (j) of the Bankruptcy Code.

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Q: Injunction Junction – What’s Your Function? A: Terminating Bankruptcies

05/09/16

On May 6, 2016, we had the occasion to observe a hearing on a motion to dismiss filed in Skybridge Spectrum Foundation’s bankruptcy case, Case No. 16-10626 (CSS).

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BIND Therapeutics, Inc. Files for Chapter 11 Protection

05/02/16

On May 1, 2016, BIND Therapeutics, Inc., and affiliated companies (“Debtors” or “BIND”) voluntarily filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code.

The filing comes days after the Cambridge, Mass., company received a notice of default from lender Hercules Technology III LP, which demanded immediate payment of the $14.5 million the lender says it is owed under the loan.  The Company is backed by Koch Industry Inc.’s David Koch.

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The Statute of Limitations For A Preference Claim

05/02/16

Because no recent opinions have been published by the Delaware Bankruptcy Court, I wanted to touch on a subject that is vital in nearly every preference or fraudulent transfer case:  The Statute of Limitations For A Preference Claim

A. Statute of Limitations

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Abengoa Court Enters Order Permitting Debtors to Reject Nonresidential Real Property Leases

04/25/16

Recently in the Abengoa SA bankruptcy proceeding (click here to review prior post), the United States Bankruptcy Court for the District of Delaware entered an order permitting Debtors to reject certain nonresidential real property leases (the “Rejection Order”).

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Sanctions? In Delaware Bankruptcy Court? Yes

04/25/16

– But they weren’t as oppressive as my subject line may imply.

In a 13 page decision, released April 22, 2016, Judge Gross of the Delaware Bankruptcy Court granted a motion to dismiss an adversary proceeding and sanctioned the Plaintiff – disallowing any further litigation against the defendants in the Bankruptcy Court.  Judge Gross’ opinion is available here (the “Opinion”).

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Pacific Sunwear Bankruptcy Update – Utilities Motion

04/18/16

As referenced in a prior post, on April 7th, Pacific Sunwear of California, Inc. (aka PacSun, aka Pacific Sunwear) filed for chapter 11 protection in the United States Bankruptcy Court for the District of Delaware.

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