Unsecured Trade Creditors Committee


Post date: Thursday, April 28, 2016

In its January 2016 decision in Boomerang Tube Inc.,[1] Judge Mary F. Walrath of the Delaware Bankruptcy Court considered the U.S.

Post date: Wednesday, December 16, 2015

Fueled by a very active membership, the Unsecured Trade Creditors Committee (UTC) was busy once again in 2015.

Post date: Tuesday, October 06, 2015

On May 21, 2015, as amended on Aug. 18, 2015, the U.S. Court of Appeals for the Third Circuit issued a decision approving the settlement and dismissal of a chapter 11 bankruptcy case through a structured dismissal.[1] The court approved the use of a structured dismissal of a chapter 11 bankruptcy where the dismissal calls for a distribution that does not specifically adhere to the priority scheme in Bankruptcy Code § 507.

Post date: Tuesday, October 06, 2015

Make-whole premiums are a fixture of commercial loan agreements. Their purpose is to determine the parties’ respective rights in the event that prepayment becomes economically efficient for a borrower.

Post date: Tuesday, October 06, 2015

On June 15, 2015, in Baker Botts L.L.P. v. ASARCO LLC,[1] the Supreme Court held that the Bankruptcy Code does not permit bankruptcy courts to award attorney fees under § 330(a) of the Bankruptcy Code to counsel or other professionals employed by the bankruptcy estate for work performed in defending a fee application, potentially giving unsecured

Post date: Monday, June 22, 2015

While the Bankruptcy Code provides for payment of the fees and expenses of an official creditors’ committee’s court-approved professionals[1] and for reimbursement of the expenses (although not the professional fees) incurred by a member of an official creditors’ committee incurred in performing committee duties,[2] it permits an unsecured creditor to seek reimbursement of “actual, necessary expenses,” plus “reasonable compensation for professional services” only where the creditor has made a “substantial contribution” in the chapter 11 case.[3]

Post date: Monday, June 22, 2015

You have probably given the preference defense speech countless times to unsecured trade creditor clients that 90-day payments are likely preferences, but may be covered by one of the typical § 547(c) defenses: subsequent provision of new value, ordinary course of business and contemporaneous exchange for new value. The standard defenses are so prevalent, it is easy to virtually ignore the § 546 limitations on avoiding powers (other than the two-year statute of limitations).

Post date: Monday, June 22, 2015

TransVantage Solutions Inc., a New Jersey-based corporation founded in 1964, provided freight audit and payment services to its customers. Its core business involved three parties and actions: A shipper or common carrier issued an invoice to a customer; the customer advanced money to TransVantage; and TransVantage reviewed the freight charges for accuracy and, when everything was in order, paid the carrier or shipper with the funds that had been entrusted to it.

Post date: Tuesday, March 17, 2015

When a business is in financial distress, the breaking point sometimes comes with little or no warning. An event such as a termination of funding, the falling through of a crucial transaction, or the loss of a key customer can be difficult to predict, and may result in a distressed business being forced to cease operations abruptly, without providing its workers with the advance notice required under the Federal WARN Act.[1]

Post date: Tuesday, March 17, 2015
Photo of Fouad Kurdi
Fouad Kurdi

In In re Emoral, Inc.,[1] the Third Circuit held that personal-injury causes of action arising from the alleged wrongful conduct of the debtor corporation, asserted against a third-party non-debtor corporation on a theory of successor liability under state law, were generalized claims constituting property of the bankruptcy es


Mr. Eric S. Chafetz
Lowenstein Sandler LLP
New York, NY
(646) 414-6886

Mr. Daniel I. Waxman
KEWA Financial Inc.
Lexington, KY
(859) 233-0352

Ms. Lauren Dorsett
Communications Manager
Davis Wright Tremaine LLP
Seattle, WA
(206) 622-3150

Ms. Samantha Martin
Newsletter Editor
Cleary Gottlieb
New York, NY
(212) 225-3341

Mr. A.J. Webb
Newsletter Editor
Frost Brown Todd LLP
Cincinnati, OH
(513) 651-6842

Mr. Jonathan J. Wernick
Special Projects Leader
B. Riley Advisory Services
Los Angeles, CA
(213) 409-6237

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