Claims Trader Criticized in New York for an Unauthorized PACER Filing
A court filing by a claims trader was stricken from the docket because it contained judges’ direct email addresses.
For Chapter 15 Recognition, the Foreign Proceedings Must Entail Insolvency
A foreign proceeding designed only to protect company assets won’t qualify as a ‘foreign proceeding’ entitled to recognition under chapter 15.
Security Interests Are Assignments of Accounts Receivable, New York High Court Says
Once an account debtor is notified to pay the lender, not paying an account receivable to the lender can mean that the account debtor pays twice.
Court:
No Interlocutory Appeal from Madoff Rulings on Suits Against Feeder Fund Customers
Subsequent transferees of Madoff’s fraudulent transfers won’t have an interlocutory appeal from denial of their motions to dismiss.
In Mass Tort Cases, New York Judge Permits Redactions of Creditors’ Names
One month apart, two judges in New York differed on the extent to which they permitted redactions of information about creditors, their identities and addresses.
A Security Deposit Is an Unsecured Loan, Unless State Law or the Lease Says Otherwise
If a tenant’s security deposit was swept by the landlord’s secured creditor but was not held in trust, the tenant has no recourse other than to file an unsecured claim.
Madoff Fraud Makes More Law: The Safe Harbor’s Application to Foreign Liquidators
District judge holds that the safe harbor in Section 546(e) applies to lawsuits by foreign liquidators aiming to avoid transactions abroad under foreign law.
Court:
Misleading Advertising to Poach a Debtor’s Customers Is No Stay Violation
False advertising that violates non-bankruptcy law isn’t necessarily a violation of the automatic stay, New York district judge says.
Buying a Claim Carries with It the Right to Assert Nondischargeability
Joining the majority of courts, Judge Grossman says that the debtor’s conduct, not the identity of the holder of the claim, determines nondischargeability.
When Renewed Pre-Petition Contracts Can and Can’t Have Administrative Status
Claims under pre-petition contracts extended after bankruptcy can have administrative status if there was benefit to the estate, district judge says, reversing the bankruptcy court.