New York Southern District

Section 546(g)'s Safe Harbor Doesn’t Apply in an Assignment for the Benefit of Creditors

A federal district judge in New York holds that the safe harbor in Section 546(g) doesn’t preempt state fraudulent transfer laws.

Rebuffed in Bankruptcy Court, the Government Wins a Stay of Voyager’s Confirmation

The U.S. Attorney argued in district court that the Voyager plan would bar the government from enforcing federal regulations and criminal laws.

Proceeds from Post-Petition Sales Aren’t to Be Turned Over to the Chapter 13 Trustee

Before confirmation, district judge says that a chapter 13 debtor is only required to turn over disposable income to a trustee, not proceeds from a post-petition sale of property.

Revlon Says: Creditors Lack Standing to Assert Claims of ‘General Interest to the Estate’

A creditor with ‘derivative’ claims based on preference or fraudulent transfer can’t convert them to ‘direct’ claims by asking for equitable relief.

Converting a Foreign ‘Rescue’ to Liquidation Doesn’t Require a New Chapter 15 Petition

If there’s an appeal, Bankruptcy Judge Garrity told the district judge all there is to know about chapter 15.

Preliminary Injunction Didn’t Render a Contract Nonexecutory

A preliminary injunction in state court didn’t invoke comity or Rooker-Feldman to bar the bankruptcy court from rejecting an executory contract.

For the Cap on Lease Rejection Claims, Judge in the SDNY Adopts the ‘Time Approach’

Bankruptcy Judge Michael Wiles differed with his colleagues who in previous years had employed the ‘time approach’ in calculating a landlord’s rejection damages under Section 502(b)(6).

Crypto Customers Don’t Own Their Deposits with Celsius Network, Judge Glenn Says

Applying ordinary contract law, New York judge rules that customers are bound by contracts they haven’t read.

Claims Trader Criticized in New York for an Unauthorized PACER Filing

A court filing by a claims trader was stricken from the docket because it contained judges’ direct email addresses.

For Chapter 15 Recognition, the Foreign Proceedings Must Entail Insolvency

A foreign proceeding designed only to protect company assets won’t qualify as a ‘foreign proceeding’ entitled to recognition under chapter 15.