District Judge Rakoff Explains Why the Debtor Alone May Assert a Cure Claim
A creditor can’t assert a cure claim, even though Section 365(b) doesn’t give the counterparty the sole right to demand a cure on assumption of an executory contract.
Being an ‘Officer’ Disqualifies Someone from a KERP, New York District Judge Says
Officers are presumptively disqualified from KERPs, “absent a strong showing that they do not perform any significant role in management,” a district judge in New York says.
IRA Withdrawals Aren’t Protected from Madoff Fraudulent Transfer Judgments
Madoff defendant socked with $280,000 in prejudgment interest for relitigating issues decided long ago.
Filing Chapter 15 as a ‘Litigation Tactic’ Didn’t Bar ‘Foreign Main Recognition’
Bankruptcy Judge Garrity didn’t impose a good faith filing requirement onto foreign main recognition of a chapter 15 case.
Judge Glenn Explains When Structured Dismissals and Comfort Orders Are Ok
Jevic didn’t ban structured dismissals when there is no violation of the rules of priority and the alternatives would create greater administrative insolvency.
U.S. Suit Dismissed After German Defendant Files Insolvency in Germany
Filing a chapter 15 petition wasn’t required for a U.S. district court to dismiss a civil action against a German company undergoing insolvency in Germany.
New York Judge Declines (for Now) to Enforce an Indonesian Plan in the U.S.
Manhattan’s Bankruptcy Judge Sean Lane requires a record in the foreign proceeding showing that third-party releases are in accord with foreign law.
Bankruptcy Settlement Didn’t Discharge All Environmental Claims, New York Judge Says
Due process considerations persuaded District Judge Oetken to conclude that a creditor’s claims, unknown at the time, were not barred by a settlement.
Safe Harbor Bars Foreign Liquidators from Recovering Money Stolen in the U.S.
Another opinion shows that Congress wrote Section 546(e) in a manner that goes far beyond protecting the securities markets in the U.S.
Madoff Trustee Wins Prejudgment Interest from ‘Net Winner’ Who Didn’t Settle
By continuing to litigate for 10 years on a lost cause, prejudgment interest will ‘up’ a fraudulent transfer defendant’s liability by 40%.