Madoff Opinions Ease Pleading Requirements in Suits Against Subsequent Transferees
Bankruptcy Judge Vyskocil holds that alter ego need not be alleged to recover from a corporation’s sole shareholder as the beneficiary of a fraudulent transfer.
SIPA Bars General Unsecured Claims for Failure to Transfer Accounts Before Filing
The trustee for a bankrupt broker can ignore an individual customer’s request to transfer securities to a solvent broker and may instead transfer customer accounts in bulk.
Flip Clauses in Swaps Held Enforceable by District Judge in New York
For swaps, the Section 560 safe harbor overrides the anti-ipso facto provisions in the Bankruptcy Code.
Plan Confirmation Cuts Off Adverse Claims to Ownership of Debtor’s Property
Res judicata is flexibly applied again to bankruptcy cases.
The GM Creditors’ Trust Opens a Can of Worms by Nixing a Settlement
Bankruptcy judge finds bad faith for walking out on a fully documented but unsigned settlement.
The Proper Role of an Expert on Willful Blindness in a Fraudulent Transfer Suit
Madoff spawns more law, this time on expert testimony about the good faith defense to a fraudulent transfer with ‘actual intent.’
French ‘Safeguard’ Plan Held to Qualify for Enforcement in the U.S.
New York judge enforces a French reorganization similar to a U.S. prepack.
Manhattan Judge Refuses to Rubber-Stamp a Sealing Motion
Protecting negotiating leverage isn’t grounds for sealing the terms of a lease.
New York Judge Bars Use of Chapter 15 to Disrupt a Foreign Bankruptcy
‘Bankruptcy tourism’ seems unaffected by an unusual cross-border insolvency.
Trustee’s Stated Intent to Abandon by Itself Won’t Allow a Debtor to Sell
Estate property must be formally abandoned before the power of sale reverts to the debtor.