A decision from a New York bankruptcy court makes nondebtor releases easier to obtain in Subchapter V than in large, mass tort chapter 11 cases.
The 2005 amendment to Section 303(b)(1) disqualifies an involuntary petitioner if there is a dispute as to even part of the creditor’s claim.
The Madoff case makes more law: A claim against a bankrupt estate can’t be set off against liability for receipt of a fraudulent transfer because one arose before bankruptcy and the other arose after.
Congress decided to deviate from standard priorities by providing in Section 724 that unsecured domestic support obligations come ahead of tax liens.
A secured lender need not obtain a deficiency judgment to retain a claim against an insurer for a shortfall in a bankruptcy sale, Bankruptcy Judge Grossman says.
A district judge in New York reversed the bankruptcy court, which had held that a Kuwaiti public pension fund was not entitled to sovereign immunity for having engaged in commercial activity.
Another judge holds that dealing with debt from a defunct business satisfies the eligibility requirement for Subchapter V.
The RICO suit by Jay Alix Against McKinsey mostly survived a motion to dismiss.
The same day the Supreme Court decided to hear Purdue, a district judge on Long Island, N.Y., sent dozens of long-stayed sexual abuse cases back to state court where the debtor is not a named defendant.