Critical vendor status is a defense to a preference claim only when the defendant was specifically named in an order, stipulation or agreement requiring full payment of the creditor’s prepetition claim, Judge Dorsey says.
A standard provision in a trust indenture meant no recovery for the indenture trustee’s attorneys.
Closing a chapter 11 case after confirmation to avoid U.S. Trustee fees won’t be necessary if the ruling by Judge Sontchi holds up.
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.
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.
Delaware bankruptcy judge trusts that dating lawyers at adversary firms didn’t disclose client confidences.
Pursuing appointment benefitted the professional career of the applicant and did not benefit the estate, Judge Silverstein said.
Delaware district judge holds that the final bid at auction, not the lender’s last credit bid, fixes the value of the lender’s collateral.
The government lost a winnable appeal by failing to present evidence in bankruptcy court.