The U.S. Court of Appeals for the Third Circuit recently became the first circuit court to address the question of whether a corporate parent can set off an obligation that it owes to a bankrupt company against a claim owed by such company to the parent’s ... Read full article
Third party releases have long been a controversial feature of certain chapter 11 plans. They are neither specifically allowed nor prohibited by the plain language of the Bankruptcy Code. This has led courts to reach differing results. There are two ... Read full article
The economic fallout from the COVID-19 pandemic will leave in its wake a significant increase in commercial chapter 11 filings. Many of these cases will feature extensive litigation involving breach of contract claims, business interruption insurance ... Read full article
Seeking to resolve a 5-3 split among the Courts of Appeals, the Supreme Court will consider whether a creditor which passively retains property of the estate violates the automatic stay. Case No. 19-357, City of Chicago v. Fulton . The Second, Seventh, ... Read full article
The U.S. Supreme Court will hear the case of Czyzewski v. Jevic Holding Corp. during the new term that began last week. The questions it presents are relatively simple. First, can a bankruptcy court, in dismissing a case under the U.S. ... Read full article
On January 15, 2016, the Third Circuit Court of Appeals issued a precedential opinion (the “Opinion”) affirming the October 20, 2014 opinion of Judge Gross. The Opinion is available here. My blog post about Judge Gross’ opinion is available here: Trump ... Read full article
On September 14, 2015, the Third Circuit released a precedential opinion (the “Opinion”) which addressed payments from a buyer to non-debtor parties in a 363 sale. The Third Circuit’s opinion is available here. If you prefer the version of the Opinion ... Read full article
Fisker Automotive’s chapter 11 case began in what has become a depressingly familiar fashion – a fast-tracked sale to a secured lender. However, two rulings by Judge Kevin Gross of the U.S. ... Read full article
Fisker Automotive’s chapter 11 case began in what has become a depressingly familiar fashion – a fast-tracked sale to a secured lender. However, two rulings by Judge Kevin Gross of the U.S. ... Read full article
The Third Circuit released a precedential opinion on May 14, 2012 that can greatly impact bankruptcy debtors attempting to reorganize as well as their secured creditors. A copy of the opinion is available here (the "Opinion") . Because Fox ... Read full article
The Supreme Court heard arguments yesterday in RadLAX Gateway Hotel over whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing its secured lenders an opportunity to credit bid their debt. ... Read full article
The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. ... Read full article
The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. ... Read full article
The Third Circuit Court of Appeals issued an en banc opinion (pdf) today in which it overruled the Frenville standard for determining the existence of a "claim" for purposes of Section 101(5) of the Bankruptcy Code. ... Read full article
The U.S. ... Read full article
Below is a post from Michael Temin , senior counsel with Fox Rothschild. ----------------------------------------------------------------------------- ... Read full article
