DelawareBankruptcyLitigation

Preference Actions filed in Deb Shops Bankruptcy

07/30/15

On July 29, 2015, Deb Shops SDFMC LLC, in its capacity as debtor in possession, filed 92 preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d).

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Trump Entertainment – Automatic Stay v. Norris-LaGuardia Act

07/22/15

In a 23 page opinion released July 21, 2015 in the Trump Entertainment Resorts case (Bank. D. Del. 14-12103), Judge Kevin Gross of the Delaware Bankruptcy Court opined upon the interaction of the Bankruptcy Code’s automatic stay and the Norris-LaGuardia Act (“NLA”).  Judge Gross’ opinion is available here (the “Opinion”).

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U.S. Supreme Court Rejects Chapter 7 Debtor’s Stripping of Junior Liens

06/02/15

Holding: A debtor in a Chapter 7 bankruptcy proceeding may not void a junior mortgage lien under § 506(d) when the debt owed on a senior mortgage lien exceeds the current value of the collateral if the creditor’s claim is both secured by a lien and allowed under § 502 of the Bankruptcy Code.

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Powerwave Preferences – Trustee Obtains Relief Regarding Service of Foreign Defendants

05/31/15

Recently in the Powerwave Technologies Inc. bankruptcy action, the Chapter 7 Trustee filed in excess of 100 preference actions seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code.  To read a prior post on the filing of these actions, click here.

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United States Supreme Court Expands Power of Bankruptcy Courts- Wellness Int’l v. Sharif

05/31/15

Holding: Article III permits bankruptcy judges to adjudicate Stern claims with the parties’ knowing and voluntary consent.  Consent by parties also need not be in writing but can be determined through conduct.

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IMRIS, Inc. Formation Meeting Scheduled

05/28/15

In the IMRIS, Inc. bankruptcy proceeding (Delaware Bankruptcy Case No. 15-11133), a formation meeting has been scheduled for Thursday, June 4, 2015 at 10:00 a.m. (ET) at the J.

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DE Bankruptcy Court Denies Canadian Employees’ Motion to File Late Proof of Claim in Nortel

05/27/15

In the case of In re Nortel Networks, Inc. et al., Case No. 09-10138 (KG) (Del. Bankr. Ct. May 21, 2015), Judge Gross considered a motion filed by the “Ad Hoc Committee of Canadian Employees Terminated Pre-Petition” seeking leave to file proofs of claim after the expiration of the Bar Date applicable to Nortel’s U.S. Debtors.

Background

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Boston Restaurant Associates, Inc. Formation Meeting and Section 341 Meeting Scheduled

05/22/15

In the Boston Restaurant Associates, Inc. bankruptcy proceeding (Delaware Bankruptcy Case No. 15-11101), a formation meeting has been scheduled for Tuesday, June 2, 2015 at 10:00 a.m. (ET) at the J.

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