New York

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.

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.

New GM Ignition Switch Suits Can Proceed in State Court, District Judge Says

The circuit court’s resolution of the bankruptcy law question prevents New GM from removing new suits to federal court.