On Dec. 12, 2023, Hon. Michael E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York (the “Chapter 15 Court”) denied a motion filed by creditor Sablon Partners Ltd. in the chapter 15 cases of Americanas S.A.
Committees
Litigation in bankruptcy can be highly contentious, and attorneys often believe that the normal rules in federal district court governing depositions do not apply to a Rule 2004 examination of a debtor. But do those attorneys have it wrong in an adversary proceeding or contested matter? Rule 2004 exams are not always as broad as interested parties hope.
Two provisions of the Bankruptcy Code turn on the existence of a “bona fide dispute.” An involuntary petition may not be filed by an alleged creditor against the alleged debtor if the creditor’s claim is “the subject of a bona fide dispute as to liability or amount.”[1] A trustee may sell property free and clear of an interest that is
In Ritzen Grp. Inc. v. Jackson Masonry LLC,[1] the U.S. Supreme Court definitively established that an order denying a motion for relief from the automatic stay under Bankruptcy Code § 362(d) is a final order that may be — and must be — immediately appealed.
We are excited to report that the Bankruptcy Litigation Committee was very active in 2023, with 2024 looking just as good, if not better. The committee now has more than 1,100 members — over 200 more than we had just three years ago. It is its members that make this committee so vibrant, and we just wanted to say thank you to everyone who helped make 2023 great.
Following decisions in 2021 from both the Delaware District Court and the Southern District of New York rejecting the Ninth Circuit’s controversial Sherwood Partners decision, [1] it appears that rumors of ABC state preference actions’ deaths have been greatly exaggerated.
According to most courts, the failure to file a timely notice of appeal under Bankruptcy Rule [1] 8002 deprives the appellate court of subject-matter jurisdiction.
On Feb. 1, 2022, Hon. David S. Jones of the U.S. Bankruptcy Court for the Southern District of New York denied a motion to dismiss the chapter 11 cases of JPA No. 111 Co. Ltd. and JPA No. 49 Co. Ltd.
With more than 900 members, the Bankruptcy Litigation Committee remains one of the largest and most active of ABI’s committees. Here is a quick update on the committee’s work in 2021.
A recent Second Circuit decision has shed light on the framework of the “good faith” defense as it intersects with provisions of the Bankruptcy Code and the Securities Investor Protection Act (SIPA).
The panelists will discuss the pros and cons of seeking the appointment of a chapter 11 trustee, effective strategies to prosecute and defend motions to appoint a trustee, and the current state of the case law surrounding such motions.
When retained causes of action are the only recoveries for residual stakeholders, having the right toolkit —with tools sharpened and up to date — is essential to preserving and maximizing value.
In today’s bankruptcy world, most major cases involve at least one pre-petition class action. This panel will focus on the distinction between mass tort claims and other types of class actions, recent case law addressing the proper procedures for asserting class claims, the allowance of class claims and compensation of class counsel, and the final resolutions of class claims, either by way of settlement or pursuant to plans. Other cutting-edge issues surrounding class claims also will be discussed.
Hosted by the Bankruptcy Litigation and Commercial Fraud Committees. This panel will explore whether and how far U.S. avoidance provisions might apply extraterritorially, and will discuss the challenges and pitfalls of alternate theories of recovery.
The Unsecured Trade Creditors Committee's May Tips of the Trade call featured Neil Steinkamp of Stout Risius Ross, LLC, who discussed the ordinary course of business defense in the context of preference analysis.
This May edition of the ABI Bankruptcy Litigation Committee Newsletter focused on bankruptcy litigation issues in energy sector restructurings. The newsletter featured an article exploring assumption and rejection of oil and gas conveyances, and an article discussing CERCLA liabilities in energy-related cases . Following publication of this newsletter, both authors hosted a call to discuss the issues explored in their articles.Click here to review the articles.
This session hosted by the Bankruptcy Litigation and Young and New Member Committees will focus on the limits of avoidance actions by bankruptcy trustees in Ponzi scheme cases, including arguments about the expansion of the look-back period to 10 years, trustee standing, clawbacks from noninvestor sources, in pari delicto and how trustees decide whom to sue.
This session hosted by the Bankruptcy Litigation and Young and New Member Committees will focus on the limits of avoidance actions by bankruptcy trustees in Ponzi scheme cases, including arguments about the expansion of the look-back period to 10 years, trustee standing, clawbacks from noninvestor sources, in pari delicto and how trustees decide whom to sue.
This panel will explore the nuts and bolts of bankruptcy appeals, taking into account the needs of one’s clients, examining the do’s and don’ts for an effective appeal, discussing the differences of appealing to the Bankruptcy Appellate Panel versus electing to proceed before the district court, the limits of appellate jurisdiction over interlocutory appeals, and addressing strategies for a successful appeal.
This panel will explore the nuts and bolts of bankruptcy appeals, taking into account the needs of one’s clients, examining the do’s and don’ts for an effective appeal, discussing the differences of appealing to the Bankruptcy Appellate Panel versus electing to proceed before the district court, the limits of appellate jurisdiction over interlocutory appeals, and addressing strategies for a successful appeal.
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