A RICO Case Shows that Final Fee Allowances Don’t Confer Immunity
The RICO suit by Jay Alix Against McKinsey mostly survived a motion to dismiss.
Unlike Yesterday’s Story, a Two-Nondebtor Lawsuit Didn’t Have ‘Related To’ Jurisdiction
Unlike the case we reported on yesterday, there was no ‘related to’ jurisdiction because the outcome of a suit between two nondebtors wouldn’t have a direct effect on the bankrupt estate.
A Suit Between Two Nondebtors Might Have ‘Related To’ Jurisdiction
There could be ‘related to’ jurisdiction if a lawsuit between nondebtors might reduce claims against the bankrupt estate.
Default Rates Imposed Before Filing Must Be Cured to Assume a Loan Agreement
Monetary defaults, including default rates and fees, must be cured before a debtor may assume a loan agreement, New York’s Judge Bentley rules.
A Contract to Produce a TV Series Wasn’t a Personal Services Contract
Contracts with corporations aren’t likely to be personal services contracts.
Lack of a Common Plan or Scheme Means It Isn’t Single Asset Real Estate
A two-story commercial condominium wasn’t ‘single asset real estate,’ Judge Mastando holds.
New York Court Holds: Claims for Electricity Don’t Get Priority Under Section 503(b)(9)
Courts are divided on whether electricity supplied within 20 days of bankruptcy gives rise to an administrative priority claim.
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.