New York Judge Rejects a ‘Lockup’ Long Before a Plan Is Negotiated
New York’s Judge Martin Glenn disapproved a lockup agreement masquerading as a plan-support agreement that required the creditor to vote for any plan the debtor might propose.
Lawyer Hit with $47,000 in Sanctions for Filing Fictitious Schedules
A lawyer was found to have committed fraud on the court for filing schedules claiming ownership of property that another court had found not to be the debtor’s property.
District Court Upholds the ‘Time Approach’ to Reduce Landlords’ Claims
Across the board, the district court affirmed a decision by Bankruptcy Judge Michael Wiles that minimized landlords’ claims resulting from lease termination or rejection.
A False Certificate of Payment (Temporarily) Barred a Landlord from Evicting
New York’s Judge David Jones explored the intricacies of Section 322(b)(22)’s bar to using bankruptcy to halt eviction.
Nonconsensual, Nondebtor Releases Prohibited by a District Court in a Subchapter V Case
A district judge in New York reversed a bankruptcy judge who had permitted a nonconsensual, nondebtor release in a Subchapter V case.
Mainland Chinese Company Wins Foreign Main Chapter 15 Recognition in New York
With no opposition, a mainland Chinese company with an approved arrangement in Hong Kong might win foreign main recognition in the U.S.
Committees Don’t Dissolve Automatically on Chapter 11 Dismissal, District Judge Says
Bucking the weight of authority, a district judge allowed an equity committee to appeal dismissal of a chapter 11 case, where the committee wanted a chapter 11 trustee rather than dismissal.
A Foreign Branch of an FDIC-Insured U.S. Bank Is Ineligible for Chapter 15
A foreign branch of a U.S. bank isn’t a foreign bank eligible for chapter 15.
Equity Governs When Lease Rejection May Be Retroactive to the Filing Date
The ‘cap’ for lease-rejection damages can start when the debtor attempts to surrender the premises.
How to Turn Prepetition Work into a Postpetition Administrative Claim
Prepetition brokerage fees characterized as rent under an aircraft lease were administrative claims to be paid in full under Section 365(d)(5).