Oversecured Creditor Granted ‘Default’ Interest on a Loan Purchased at Discount
District judge in Connecticut upheld an award of ‘default’ interest, even though the fully secured lender had opposed the chapter 11 process and resisted the use of its cash collateral.
Court:
Revlon Says: Creditors Lack Standing to Assert Claims of ‘General Interest to the Estate’
A creditor with ‘derivative’ claims based on preference or fraudulent transfer can’t convert them to ‘direct’ claims by asking for equitable relief.
Converting a Foreign ‘Rescue’ to Liquidation Doesn’t Require a New Chapter 15 Petition
If there’s an appeal, Bankruptcy Judge Garrity told the district judge all there is to know about chapter 15.
Preliminary Injunction Didn’t Render a Contract Nonexecutory
A preliminary injunction in state court didn’t invoke comity or Rooker-Feldman to bar the bankruptcy court from rejecting an executory contract.
For the Cap on Lease Rejection Claims, Judge in the SDNY Adopts the ‘Time Approach’
Bankruptcy Judge Michael Wiles differed with his colleagues who in previous years had employed the ‘time approach’ in calculating a landlord’s rejection damages under Section 502(b)(6).
Second Circuit Limits the Significance of Homaidan on Discharge of Private Student Loans
The Fair Credit Reporting Act doesn’t require credit reporting agencies to resolve disputed facts or law about the discharge of private student loans.
Court:
Crypto Customers Don’t Own Their Deposits with Celsius Network, Judge Glenn Says
Applying ordinary contract law, New York judge rules that customers are bound by contracts they haven’t read.
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.
Second Circuit: Unimpaired, Unsecured Creditors Don’t Get Post-Petition Interest
There’s no circuit split on post-petition interest, because the Second Circuit agreed with the Third, Fifth and Ninth Circuits.
Court:
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.