Rochelle's Daily Wire

An administrative creditor isn’t a ‘guarantor’ of the success of the project, Delaware’s Bankruptcy Judge Goldblatt says.

Recent Supreme Court authority supports the conclusion by Delaware’s Judge Sontchi that law from the jurisdiction of incorporation, not federal common law, determines what is or isn’t a business trust eligible for chapter 11.

Circuit Judge Ambro generously interprets Katz to mean that ratification of the Constitution waived state sovereign immunity broadly for suits to augment a bankrupt estate.

The ‘Countryman’ definition of an executory contract allows a debtor sell a contract without curing a default if the non-debtor counterparty has no further material, unperformed obligations.

Not having challenged pre-petition liens on time, a chapter 7 trustee was barred from taking over an adversary proceeding initiated by a now-dissolved chapter 11 creditors’ committee.

Third Circuit dicta suggests that failure to create a trust is constitutionally deficient and won’t discharge claims of ‘unknown’ creditors in a chapter 11 plan.

Delaware bankruptcy judge trusts that dating lawyers at adversary firms didn’t disclose client confidences.

Splitting with the Sixth Circuit, Pittsburgh district judge rules that a FLSA suit falls within the ‘police and regulatory’ exception to the automatic stay.

A triangular setoff valid under state law does not satisfy the mutuality requirement in Section 553(a).

The Third Circuit found loopholes in the purchase agreement permitting the buyer to assert an administrative claim, even though the breakup fee was disallowed.