For Foreign Liquidators, Chapter 15 Is Better than Using Common Law, Decision Shows
A foreign liquidator, who ran into problems in the Third Circuit using common law, changed course and quickly obtained relief in chapter 15.
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Giving the Debtor a Grace Period to Cure Isn’t Extending a Plan Beyond Five Years
In the Third Circuit, it’s possible to cure a payment default under a chapter 13 play beyond five years, district judge says in affirming the bankruptcy court.
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Notice of Intention to Assume Is Enough to Beat the Automatic Rejection Deadline
A bankruptcy judge in New Jersey holds that it’s enough to file a notice of intention to assume before the automatic lease rejection deadline
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U.S. Trustee Moves to Transfer Venue of New J&J Case from Houston to New Jersey
The new J&J filing starkly raises the issue of venue-shopping. If the new case remains in Houston, the Texas court would not be bound by the Third Circuit’s ‘financial distress’ requirement.
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Tyler Applied Retroactively to Set Aside a Judgment of Tax Foreclosure
Tyler was applied retroactively because the debtor’s efforts to set aside a tax foreclosure judgment were ‘in the pipeline’ when bankruptcy began.
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Releases, a/k/a Exculpations, of Insiders Barred Under a Chapter 11 Plan
Bankruptcy Judges Wiles in New York decided that insiders were not entitled to releases under Section 503(c), but not for the reasons contained in Purdue.
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An ‘Admin’ Claim Isn’t Mandated for Nonpayment of Rent Before Automatic Rejection
To align with congressional intent underpinning Section 365(d)(3), Judge Gravelle gave the landlord an administrative claim for base rent due after filing and before automatic rejection.
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Concurrent Representation of a Major Creditor/Shareholder Is/Isn’t Disqualifying
Concurrent representation of a 43% shareholder was disqualifying while representing a creditor with 79% of the debt did not disqualify.
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District Court Disregards the Bankruptcy Court’s Authority over Post-Petition Fees
Seemingly in conflict with Section 329, a district court decided that a chapter 7 debtor’s attorneys could sue for post-petition fees, even though the firm never disclosed the fee arrangement as required by Section 329 and Rule 2016.
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J&J’s ‘Baby Powder’ Chapter 11 Case Dismissed a Second Time: No Financial Distress
Bound by the Third Circuit’s first LTL decision, the bankruptcy court found that LTL’s rejiggered second filing suffered from the same defect: no immediate financial distress.
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