New York Southern District

Tuition Payments for Adult Children Squarely Held to Be Constructively Fraudulent

New York judge allows insolvent parents to pay for a minor child’s expensive education.

Foreign Main or Nonmain Status Doesn’t Necessarily Follow Foreign Citizenship

Judge Chapman delves into the murky realm of an individual’s ‘COMI’ and ‘establishment.’

Safe Harbor Given Extraterritorial Effect to Benefit Madoff Feeder Funds Customers

Will the avoiding powers and the safe harbor both have extraterritorial effect? Stay tuned!

Loss of Voting Rights Must Be Expressly Stated to Be Enforceable, District Judge Says

MPM Silicones makes law again, this time on subordination of junior secured lenders.

New York Judge Dismisses an Involuntary Petition Against a CDO

Judge Vyskocil denounces an involuntary petition as an attempt by senior, fully secured noteholders to profit at the expense of subordinate noteholders.

Chrysler Wrongful Death Suits Barred in Alabama While Permitted Elsewhere

An Alabama statute designed to aid wrongful death claimants ends up hurting them in Chrysler’s bankruptcy.

U.S. Judge Willing to Split with the U.K. over Chapter 15 Foreign Recognition

Judge Glenn criticizes an 1890 English decision refusing to enforce a foreign discharge of debt.

New York and Delaware Agree: Releases Are Constitutionally Ok in Confirmation Orders

Chief District Judge in New York rules that ‘core’ jurisdiction includes non-consensual, third-party releases in confirmation orders.

District Judge Rules Section 562 Does Not Apply to Terminations by Agreement

Section 562 applies to fix the date for calculating damages only if the debtor rejects or the creditor terminates, New York district judge says.

Section 363(m) Won’t Protect a Buyer with Detailed Knowledge of an Adverse Claim

A bankruptcy judge’s finding regarding status as a good faith purchaser is not the final word on appeal.