Young And New Members Committee

Committees

Post date: Wednesday, March 04, 2015

The Bankruptcy Code generally restricts the trustee’s employment of professionals to those “that do not hold or represent an interest adverse to the estate, and that are disinterested.”[1] Broadly speaking, “disinterested” persons are those who do not have a pre-petition interest in or relationship with the debtor.

Post date: Wednesday, March 04, 2015

The Pension Benefit Guaranty Corporation (PBGC) can be the largest unsecured creditor in chapter 11 cases and is usually a very influential member of creditors’ committees, which can lead to feuds with other creditors.

Post date: Friday, January 02, 2015
Photo of Barouir Brian Yeretzian
Barouir Brian Yeretzian

Debtors, whether a corporation or an individual, often need to divest of real estate holdings while under bankruptcy protection. Section 363 of the Bankruptcy Code provides an avenue (and often the only avenue) by which a trustee or debtor[1] in possession (DIP) may sell property of the estate.[2] Specifically, § 363(b)(1) provides that a trustee or DIP may sell property of the estate “other than in the ordinary course of business” after “notice and a hearing.”[3]

Post date: Friday, January 02, 2015

Football season is upon us, and in locker rooms across the country, coaches will be telling their teams, “Winning isn’t everything; it’s the only thing.”  Unfortunately for plaintiffs suing debtors in bankruptcy adversary proceedings, winning isn’t the only thing that matters. In fact, winning a judgment can be less than half of the battle.

Post date: Friday, November 07, 2014
Photo of Nathaniel R. Sinn
Nathaniel R. Sinn

The Great Recession renewed widespread use of receiverships, one of the oldest pre-judgment remedies available to creditors. What was once old has become new again, portrayed by the fact that one of the leading treatises on receiverships remains Ralph Ewing Clark’s Treatise on the Law and Practice of Receivers 3d, originally published in 1918 and last updated with a 1968-69 supplement.

Post date: Monday, October 13, 2014

Corporate veil-piercing is nearly as old as limited liability, the privilege it circumscribes.[1] Normally, limited liability conjures an image of a veil between a corporation and its owner, thereby shielding the assets of the latter, whether a natural or artificial person,[2]

Post date: Monday, October 13, 2014

When many bankruptcy practitioners think of § 546 of the Bankruptcy Code, it is in connection with the statute of limitations for avoidance actions. While these provisions may be widely known, § 546 contains several other provisions that can have a substantial impact on a party’s substantive rights in a bankruptcy case.

Post date: Thursday, September 04, 2014

[1]On June 17, 2014, the U.S. Bankruptcy Court for the Northern District of Illinois addressed the defense to fraudulent transfer liability under § 548(c) of the Bankruptcy Code.[2] Section 548(c) provides a defense for otherwise fraudulent transfers if the transferee accepts the transfer in good faith, and provides value in exchange for such transfer.[3] Thus, there are two prongs to this defense: good faith and value.[4]

Post date: Thursday, August 28, 2014
Photo of Jeremy D. Evans
Jeremy D. Evans

With an increasing number of bankruptcy cases centering on massive financial frauds, bankruptcy courts in recent years have drastically extended the definition and scope of “property of the estate.” Not surprisingly, this broader definition has also led to an increased application of the automatic stay, sometimes extending the stay to third-party actions that were not even brought against debtors.[1]

Post date: Thursday, August 28, 2014

General Motors (GM) is currently facing two main types of lawsuits linked to its recall of cars with defective ignition switches. For those injured or killed as a result of these switches, GM has set up a special fund to compensate victims and their families.[1] Yet, the very contentious and much more expensive issue concerns car owners suing GM for economic losses related to the defects,[2] and these claims could easily reach into the billions of dollars.[3]

Pages

Mr. David R. Doyle
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-1648

Ms. Tara J. Schellhorn
Co-Chair
Riker, Danzig, Scherer, Hyland & Perretti LLP
Morristown, NJ
(973) 538-0800

Mr. John T. Baxter
Communications Manager
Nelson Mullins Riley & Scarborough, LLP
Nashville, TN
(615) 664-5323

Ms. Bodie B. Colwell
Education Director
Preti Flaherty
Portland, ME
(207) 791-3000

Ms. Christina Sanfelippo
Education Director
Cozen O'Connor
Chicago, IL
(312) 474-4455

Ms. Gabrielle G. Palmer
Membership Relations Director
Siri & Glimstad LLP
Littleton, CO
(720) 419-0263

Mr. Christian A. Pereyda
Membership Relations Director
Maynard, Cooper & Gale, P.C.
Birmingham, AL
(205) 254-1854

Mr. Joseph M. Esmont
Newsletter Editor
BakerHostetler
Cleveland, OH
(216) 861-7835

Ms. Alexandra CC Schnapp
Newsletter Editor
U.S. Bankruptcy Court, Northern District of Georgia
Atlanta, GA
(404) 215-1005

Mr. John Richard O'Connor
Special Projects Leader
Sugar Felsenthal Grais & Helsinger LLP
Chicago, IL
(630) 308-2487

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