A recent decision of the Bankruptcy Court for the District of Delaware (court) halted a proposed §363 sale, and this decision could significantly impact future bankruptcy sales of retail businesses holding inventory on consignment. In re Whitehall Jewelers Holdings Inc., 2008 WL 2951974 (Bankr. D. Del. July 28, 2008).
Young And New Members Committee
Committees
Two commonly misunderstood remedies in the young bankruptcy practitioner's tool box are the defenses of setoff and recoupment. Section 553 of the Bankruptcy Code preserves the nonbankruptcy right of a "creditor to offset a mutual debt owing by such creditor to the debtor that arose before the commencement of the case...." 11 U.S.C. §553(a).
The enactment of 11 U.S.C. §503(b)(9) as part of BAPCPA was widely lauded as providing a great benefit to trade creditors. Under §503(b)(9), a creditor shall be allowed an administrative expense for “the value of any goods received by the debtor within 20 days before the date of the commencement of a case under [Title 11 of the U.S.
Ms. Bodie B. Colwell
Co-Chair
Preti Flaherty, LLP
Portland, ME
(207) 791-3000
Co-Chair
Preti Flaherty, LLP
Portland, ME
(207) 791-3000
Ms. Christina M. Sanfelippo
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-4455
Co-Chair
Cozen O'Connor
Chicago, IL
(312) 474-4455
Mr. Matthew R. Pierce, Esq.
Communications Manager
Landis Rath & Cobb LLP
Wilmington, DE
(302) 467-4400
Communications Manager
Landis Rath & Cobb LLP
Wilmington, DE
(302) 467-4400
Mr. John Richard O'Connor
Education Director
Levenfeld Pearlstein LLC
Chicago, IL
(630) 308-2487
Education Director
Levenfeld Pearlstein LLC
Chicago, IL
(630) 308-2487
Ms. Gabrielle G. Palmer
Education Director
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059
Education Director
Onsager | Fletcher | Johnson | Palmer LLC
Denver, CO
(720) 457-7059
Ms. Megan Clontz
Membership Relations Director
Spencer Fane LLP
Plano, TX
(972) 324-0371
Membership Relations Director
Spencer Fane LLP
Plano, TX
(972) 324-0371
Ms. Tirzah Roussell
Membership Relations Director
Dentons Davis Brown
Des Moines, IA
(515) 246-7984
Membership Relations Director
Dentons Davis Brown
Des Moines, IA
(515) 246-7984
Mrs. Letson Douglass Boots
Newsletter Editor
Bernstein Shur
Portland, ME
(207) 774-1200
Newsletter Editor
Bernstein Shur
Portland, ME
(207) 774-1200
Ms. Joy D. Kleisinger
Newsletter Editor
Frost Brown Todd LLP
Cincinnati, OH
(513) 651-6800
Newsletter Editor
Frost Brown Todd LLP
Cincinnati, OH
(513) 651-6800
Ms. Ciara L. Rogers
Special Projects Leader
Waldrep Wall Babcock & Bailey, PLLC
Raleigh, NC
(984) 480-2005
Special Projects Leader
Waldrep Wall Babcock & Bailey, PLLC
Raleigh, NC
(984) 480-2005