For Chapter 15 Recognition, the Foreign Proceedings Must Entail Insolvency
A foreign proceeding designed only to protect company assets won’t qualify as a ‘foreign proceeding’ entitled to recognition under chapter 15.
No Interlocutory Appeal from Madoff Rulings on Suits Against Feeder Fund Customers
Subsequent transferees of Madoff’s fraudulent transfers won’t have an interlocutory appeal from denial of their motions to dismiss.
In Mass Tort Cases, New York Judge Permits Redactions of Creditors’ Names
One month apart, two judges in New York differed on the extent to which they permitted redactions of information about creditors, their identities and addresses.
A Security Deposit Is an Unsecured Loan, Unless State Law or the Lease Says Otherwise
If a tenant’s security deposit was swept by the landlord’s secured creditor but was not held in trust, the tenant has no recourse other than to file an unsecured claim.
Misleading Advertising to Poach a Debtor’s Customers Is No Stay Violation
False advertising that violates non-bankruptcy law isn’t necessarily a violation of the automatic stay, New York district judge says.
When Renewed Pre-Petition Contracts Can and Can’t Have Administrative Status
Claims under pre-petition contracts extended after bankruptcy can have administrative status if there was benefit to the estate, district judge says, reversing the bankruptcy court.
New York Judge Splits with Colleagues on Redaction of Crypto Customers’ Names
Judge Glenn allowed the redaction of individual crypto customers’ home and email addresses, but requires the disclosure of their names and the amount of their claims. No redactions for business customers.
The Pandemic Was No Reason for Raising an Investment Banker’s Cap on a Fixed Fee
The length and the effects of the pandemic were capable of being ‘anticipated’ and therefore provide no reason for modifying a fixed fee under Section 328(a).
Claims Agents Aren’t Junior Judges Ruling on the Validity of Claim Transfers
The transferee of a claim doesn’t have standing to object to recording the transfer of a claim to it on the claims docket, Judge Garrity says.
Claims Agents Are Barred from Making Money on the Side from the Claims Docket
Bankruptcy Judge Sean Lane in New York barred a chapter 11 claims agent from selling the claims docket to a claims trader in return for a share of the fees earned by the trader.