LexisNexis® Legal Newsroom
Sorry, but there are no more tags available to filter with.
James M. Lawniczak on Thompson v. Greenwood

The courts have not agreed on whether 28 U.S.C.S. § 1412 allows a bankruptcy court to retain jurisdiction of an improperly venued case. The majority of lower courts have held that a court cannot keep such a case, given the plain language of 28 U.S.C. §§ 1406 and 1408. However, a strong...

Hon. Ralph R. Mabey on In re Excel Innovations

The courts of appeals do not agree on the standard for issuing an injunction to stay litigation against a nondebtor party. Many lower courts have followed the lead of the Fourth Circuit in granting a section 105 injunction against litigation that interferes with the reorganization of the debtor. In a...

FREE DOWNLOAD: Lawniczak on Walker v. Walden

The Eleventh Circuit has ruled that the removal of a chapter 7 trustee is a final, appealable order. In reaching its decision, a matter of first impression within the circuit, the court closely examined the decisions of the other circuits, ultimately joining the majority position that such orders are...

In re Bear Stearns: Court Slams Door on Subjective Approach to Chapter 15

Excerpt: The liquidators of two Cayman registered hedge funds appealed the bankruptcy courts refusal to grant recognition to foreign proceedings that did not satisfy chapter 15’s strict eligibility requirements. The District Court rejected their assertions that comity should add discretionary...

In re Oversight & Control Comm'n of Avanzit, S.A.

A United States Bankruptcy Court recently clarified that a foreign proceeding in which a repayment plan had been approved and court supervision reduced was still eligible for recognition under chapter 15 of the U.S. Bankruptcy Code. This commentary discusses the "court supervision" and "pending...

Lawniczak on Carroll v. Sanders (In re Sanders), 551 F.3d 397 (2008)

In this Emerging Issues Analysis, James M. Lawniczak looks at a decision of first impression from the Sixth Circuit, Carroll v. Sanders (In re Sanders), 551 F.3d 397 (2008), interpreting Bankruptcy Code section 1328(f)(1), added in 2005. Relying solely on the text of the statute and "familiar canons"...

Herrick, Feinstein LLP on the Madoff Litigation Landscape

Despite having several options for restitution, Madoff victims face a return of mere pennies and the possibility of years of litigation. In this Commentary, Therese M. Doherty, Howard R. Elisofon and John Oleske of the New York City-based law firm Herrick, Feinstein, LLP examine the litigation strategies...

Statutory Interpretation in Bankruptcy Matters

In this analysis, James Lawniczak surveys the Supreme Court's evolving approach to the interpretation of bankruptcy statutes. He explains how the Courts common law method has evolved into a "plain meaning" approach, where the Court reviews the statute and does its best to give effect to...

Environmental Obligations and the Code's Definition of "Claims"

Whether an environmental obligation constitutes a "claim" as that term is defined by the Bankruptcy Code is a significant issue because only a "claim" is potentially subject to discharge. Here, Adam P. Strochak, of Weil, Gotshal & Manges LLP, examines cleanup costs, administrative...

Agent May Consent to a "Free-and-Clear" Sale or Credit Bid under Section 363 of the Bankruptcy Code over Objection of Dissenting Minority Secured Lenders

In August 2009, the United States Court of Appeals for the Second Circuit held that a dissenting minority lender could not object to a "free-and-clear" sale in circumstances where the loan documents authorized the agent to act on behalf of the secured lenders and a majority in interest of the...

2 roommates + 2 incomes = 1 happy debtor

Sounds like sanity could be returning to the Bankruptcy system, but you be the judge. As reported in this piece by Attorney Craig Andresen for the Bankruptcy Law Network , a court in Minnesota has ruled in In re Bostwick, 406 B.R. 867 (Bankr. D. Minn. 2009) * that unrelated roommates living in the same...

The Supreme Court's Holding in Travelers Indemnity Co. v. Bailey, 129 S. Ct. 2195 (2009)

In this LexisNexis Emerging Issues Analysis, Professor Kenneth N. Klee discusses the holding in Travelers Indemnity Co. v. Bailey , 2009 U.S. LEXIS 4537, 129 S. Ct. 2195 (2009), the most recent in a long line of five other Supreme Court cases consistently precluding collateral attack on final bankruptcy...

New Pleading Standards for Avoidance Actions in Bankruptcy Courts

Pleading standards in bankruptcy avoidance actions have historically been set extremely low. The standards were so low that practitioners seldom saw a motion to dismiss under Rule 12(b)(6). The rules have just changed. NOTE: The case links below may be accessed by lexis.com subscribers. Non-subscribers...

New Pre-Bankruptcy Procedures in Greece

As of 16 September 2007, a new Insolvency Code governs insolvency and restructuring in Greece. The Code strives to abandon the inefficiency and archaic obscurity of the old law and to institute an efficient and effective insolvency regime drawing on the most current international economic and legal analysis...

Riker, Danzig, Scherer, Hyland & Perretti v. Official Committee of Unsecured Creditors (In re Smart World Technologies, LLC), 552 F.3d 228 (2d Cir. 2009)

In this Emerging Issues Analysis, author James Lawniczak looks at the Second Circuit's consideration of whether a fee request was pre-approved under Code section 328(a) and thus was not subject to the reasonable compensation determination of section 330. In a case of first impression, the court joined...

Ogle v. Fidelity & Deposit Co. of Maryland, 586 F.3d 143 (2d Cir. 2009)

In this Emerging Issues Analysis, James Lawniczak considers the Second Circuit's holding that an unsecured creditor has a valid claim under a prepetition indemnity agreement for the expenditure of postpetition attorneys' fees related to the litigation of issues under the underlying contract....

Debtor Against Debtor: Limits on the Discharge of Claims by One Bankruptcy Estate Against Another

As corporate bankruptcy filings increase, one debtor corporation is more likely to find that it has claims against another unaffiliated debtor corporation. The US Bankruptcy Code is generally not drafted with this situation in mind, and questions may arise regarding the effect of one debtor's bankruptcy...

The Treatment of "Stub Rent" in the Goody's and Stone Barn Retail Apparel Bankruptcies

Two recent decisions in retail apparel bankruptcy cases, in Delaware and New York, highlight the ongoing uncertainty regarding "stub rent". While the ultimate financial outcomes for the landlords in the two cases are similar, the different approaches taken by the courts leave open questions...

Terminal Valuation: Will the Seventh Circuit Decision on Valuation of United Airlines Bond Collateral Bring Closure to Recharacterization Litigation?

The Seventh Circuit's decision to reverse a ruling on valuation made by the Northern District of Illinois District Court regarding collateral for United Airlines bonds is an interesting one in its own right, for its approach to valuing collateral in bankruptcy. It is also an important development...