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Kelley Drye & Warren LLP
Energy Future Holdings' Make-Whole Ruling Extends Rationale of Important SDNY Decisions to Delaware

by Ben Feder Judge Christopher Sontchi issued a notable opinion last week in the bankruptcy case of Energy Future Holdings Corp. , et al . (“EFH”), Case No. 14-10979 (D. Del.), ruling that the repayment in full of certain senior secured...

Stephen Sather
As Oil Prices Fall, Oil & Gas Bankruptcies Rise

While a new report from the Administrative Office of the U.S. Courts shows a 46% decline in chapter 11 filings from 2010 to 2014, there appears to be an uptick in energy related filings, especially by Texas-based companies. The report from the Administrative...

Stephen Sather
Fifth Circuit Report: February 2015

February's bankruptcy opinions revolve around the common theme of not doing things right. There is the case of an attorney who didn't pay a sanctions order and incurred more liability, an assignee from a bankruptcy debtor who wasn't in existence...

Kelley Drye & Warren LLP
Is GM Shielded From Ignition Switch Defect Liability? Hearing Highlights Thorny Due Process and Bankruptcy Issues

by Ben Feder Judge Robert Gerber will be stepping down at the end of this year, ending a storied judicial career highlighted by his oversight of the 2009 chapter 11 case of General Motors Corporation (“Old GM”). In one of the most frenetic...

Stephen Sather
Energy Resources Remains Viable for Allocation of Tax Payments

Twenty-five years ago, the Supreme Court held that a Bankruptcy Court had the authority to order the IRS to allocate payments made "voluntarily" by a Debtor when necessary to effectuate a successful reorganization. United States v. Energy Resources...

Tags: tax payments
Kathy Bazoian Phelps
February 2015 Ponzi Scheme Roundup

Below is a summary of the activity reported for February 2015. The reported stories reflect: 2 guilty pleas or convictions in pending cases; over 64 years of newly imposed sentences for people involved in Ponzi schemes; at least 5 newly discovered schemes...