Opinions

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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IPC International: Transfer of Venue Granted in Adversary Proceeding

11/08/14

Any defendant to a bankruptcy adversary proceeding seeking to transfer venue of their case should read the recent opinion dated November 3, 2014, in which the Honorable Mary F. Walrath granted Defendant’s motion to transfer venue in the case styled as:

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Trump Entertainment – A Debtor’s Rejection of a Bargaining Agreement

10/30/14

In a 28 page opinion released October 20, 2014 in the Trump Entertainment Resorts case (Bank. D. Del. 14-12103), Judge Kevin Gross of the Delaware Bankruptcy Court provided a thorough analysis of the ability of a debtor to reject a collective bargaining agreement pursuant to 11 U.S.C § 1113.  Judge Gross’s opinion is available here (the “Opinion”).

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Books and Records Action: Chancery Examines Scope of Documents

09/29/14

In the recent decision of Caspian Select Credit Master Fund, Ltd. v. Key Plastics Corp., Inc., C.A. No. 8625-VCN (Del. Ch. Sept. 3, 2014), the Court analyzed whether categories of documents requested by Caspian, the minority shareholder of Key Plastics, were “narrowly  tailored” to a proper purpose.

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Analysis Regarding Third-Party Releases in Bankruptcy

08/31/14

In the recent decision of In re Genco Shipping & Trading Ltd., the United States Bankruptcy Court for the Southern District of New York approved certain non-consensual third-party releases granted by unimpaired creditors and equity holders, to the extent that they complied with the US Court of Appeals for the Second Circuit’s standard for approval of these releases.

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Non-Debtors Are Not The Correct Party To Bring Preference Actions

09/30/13

Summary

In a 14 page decision signed September 30, 2013, Judge Walsh of the Delaware Bankruptcy Court provided a primer on one of the limitations of standing provided in the bankruptcy code in his opinion granting a motion to dismiss.  Judge Walsh’s opinion is available here (the “Opinion”).

Background

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Majestic Holdco Opinion Discusses Excusable Neglect

03/14/13

Summary

In an 8 page decision signed February 21, 2013, Judge Gross of the Delaware Bankruptcy Court denied a Motion for Enlargement of Administrative Claim, holding that the movant failed to prove excusable neglect. Judge Gross’s opinion is available here (the “Opinion”).

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Sportsman's Warehouse Reminds Us of Basic Contract Interpretation Principles

02/28/13

Summary

In a 25 page opinion published February 7, 2013, Judge Sontchi applied black-letter contract interpretation principles in conjunction with the bankruptcy rules in holding that a landlord was not entitled to damages resulting from a debtor's breach of its lease. Judge Sontchi’s opinion is available here (the “Opinion”).

Background

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The Supreme Court Weighs in on Credit-Bidding

08/17/12

On May 29, 2012, the United States Supreme Court issued an opinion in the Radlax Gateway Hotel bankruptcy proceeding regarding the viability of a plan of reorganization that prohibited a bank from credit-bidding on the debtors’ assets.  See Radlax Gateway Hotel, LLC, et al., v. Amalgamated Bank, __S.Ct.__ No. 11-166, 2012 WL 1912197 (U.S. May 29, 2012)(hereinafter “Opinion at * ___”).  The debtors in Radlax (“Debtors”) purchased a hotel at the Los Angeles International Airport, along with an adjacent property.

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