Louisiana

Fifth Circuit Interprets Section 363(m) More Broadly than Other Circuits

Anything that is ‘integrally related’ to a sale is moot in the Fifth Circuit, according to a New Orleans district judge.

Judge Grabill Imposes $400,000 in Sanctions for Violation of Confidentiality Order

Subjectively laudable reasons for violating a confidentiality order didn’t absolve the lawyer of sanctions.

Being Tossed Off a Committee Doesn’t Confer Appellate Standing, District Judge Says

Being removed from an official committee doesn’t harm the former member’s pecuniary interests and therefore doesn’t confer appellate standing.

Surety Bonds Aren’t Executory Contract and Can’t Be Assumed, District Judge Says

An irrevocable surety bond isn’t executory because it gives the bonding company no further obligations to the debtor.

Additional Committee for Commercial Creditors Appointed in Archdiocese Bankruptcy

Judge Grabill would have given commercial creditors either their own committee or special counsel given the different interests of sexual abuse claimants.

Defenses to Preferences Are Considered in Counting an Involuntary Debtor’s Creditors

A former bankruptcy judge, now a district judge, makes important law on involuntary petitions.

‘13’ Plans Already in Default on March 27 May Be Extended Under the CARES Act

Judge Grabill finds nothing in Section 1329(d) to preclude extending the duration of a plan if payments were already in default when the CARES Act was enacted on March 27.

Surety Bonds Aren’t Executory Contracts and Can’t Be Assumed Even if They Are

Insurance companies must nail down the treatment of performance bonds before plan confirmation.

Increasingly Popular SBRA Permits Restructuring Personal Guarantees of Corporate Debt

More than 600 cases have already been filed under the SBRA since subchapter V of chapter 11 became effective in February.

Fifth Circuit’s Seminal Reed Decision Not Followed in Chapter 13

Bankruptcy judge finds no statutory power for a chapter 13 trustee to prosecute a lawsuit that the debtor was judicially estopped for pursuing.

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