On June 3, 2019, the U.S. Supreme Court released a unanimous decision in Taggart v.
Committees
With more than 900 members, ABI’s Bankruptcy Litigation Committee remains one of the largest and most active of ABI’s committees. The committee, its leadership and its members were quite busy in 2019, so we wanted to take a moment to quickly update you about what we’ve been working on.
This November, the Supreme Court will hear oral argument in Ritzen Group Inv. v. Jackson Masonry LLC[1] and ultimately will determine whether a particular bankruptcy court order that denied a stay-relief motion is a final, immediately appealable order under 28 U.S.C. § 158(a)(1).
When the IRS pays a tax refund to the corporate group, it always issues that refund to the corporate parent — even if some or all of the losses are attributable to one of its subsidiaries. That raises an oft-litigated and highly significant question: Who owns the refund?
Although 11 U.S.C. § 365(a) allows for rejection of executory contracts, determining whether a contract is, in fact, executory can be challenging. As illustrated by a recent Second Circuit case, whether an oil and gas gathering agreement can be fully rejected as an executory contract depends on the state law governing the dispute and the relationship of the covenants to real property.
I sometimes joke that “bankruptcy litigator” is an oxymoron because bankruptcy and litigation practice often seem fundamentally at odds.
Trustees and their counsel can breathe easier in the Fifth Circuit.
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