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New York Southern District

Is Section 363(m) Jurisdictional or Only a Limit on the Power of an Appellate Court?

The belief that Section 363(m) is jurisdictional allowed a buyer to profit from taking a misleading position in bankruptcy court.

New York Bankruptcy Judge Declines to Follow Enron Decision by SDNY District Judge

Claims traders are put on notice: Purchasing a claim doesn’t insulate the buyer from disallowance under Section 502(d).

Critical Vendor Motion Heads for the Second Circuit

New York district court upholds a typical critical vendor order.

District Court Strictly Enforces ‘Adequate Assurance’ Standards for Shopping Centers

District court reverses and bars Sears from assigning Mall of America lease.

Bankruptcy Court Still Has Power to Enter Final Judgments by Default after Wellness

Failure to respond to a well-pleaded complaint implies consent for the bankruptcy court to enter final judgment in an avoidance action, Judge Glenn rules.

A Chapter 11 Filing Can Extend an Inflexible Closing Date by 60 Days

Filing a chapter 11 petition to obtain an automatic 60-day extension of a closing date is not a bad faith filing, Judge Bernstein says.

Courts Interpret Brunner Too Harshly, Bankruptcy Judge Cecelia Morris Says

A debtor with a law degree but only $37,500 in gross annual income was permitted to discharge more than $220,000 in student loans.

Immediately Withdrawing the Reference Is ‘Absurd,’ District Judge Says

Defendants in lawsuits by Lehman Brothers are stuck in bankruptcy court until the cases are ready for a jury trial.

Losing Competitive Advantage Doesn’t Justify Redacting a Settlement Agreement

Judge Garrity in New York adopts a narrow view of ‘commercial information’ that may be redacted in a court filing.

New York Judge Refuses to Waive Collateralization for Debtors’ Bank Accounts

In a large ‘prepack,’ the debtor was required to spend $80,000 a month for its depository bank to obtain a bond required by Section 345(b).

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