Trustees and their counsel can breathe easier in the Fifth Circuit.
A Delaware Bankruptcy Court has held that litigants pursuing post-confirmation state law fraud claims against the trustees of a mass-tort litigation trust must first seek leave from the bankruptcy court that established the trust. In Smith v.
Over the past few years, U.S. regulatory agencies have significantly increased their exertion of authority to regulate virtual currencies as well as their enforcement efforts over cryptocurrency transactions. This is not surprising given the potential for and actual abuse of the cryptocurrency markets, as well as the volatility of such markets.
Bitcoin’s rise in popularity has disrupted many areas of commercial law.
In the past several weeks, we have seen an uptick in crypto-related insolvencies; most recently Giga Watt, a Bitcoin-mining firm, filed for chapter 11 relief in the Eastern District of Washington. Often, the questions arising out of a crypto-related bankruptcy revolve around the value of Bitcoin or other cryptocurrency.
Value is everything in bankruptcy: finding (or creating) it, preserving it, maximizing it, and ultimately allocating it in accordance with statutory priorities among many (and often competing) constituencies.
The “bitcoin.org” domain name was registered on Aug. 18, 2008. Two months later, on Oct.
On April 9, 2018, Hon. Martin Glenn of the U.S. Bankruptcy Court for the Southern District of New York approved third-party releases of nondebtor affiliate guarantors in a chapter 15 proceeding, even though not all of the parties bound by the releases had voted in favor of the releases.
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