Pleading Standard for Preferential and Fraudulent Transfer Claims
Delaware Bankruptcy Judge Clarifies the Pleading Standard for Preferential and Fraudulent Transfer Claims Official Committee of Unsecured Creditors v. Nimble Gravity, LLC (In re Pack Liquidating, LLC, et al.), Case No. 22-10797, Adv. Proc. No. 24-50048, 2024 WL 4633499 (Bankr. D. Del. Oct. 30, 2024). Delaware bankruptcy judge Craig T. Goldblatt clarified the pleading standards…
Read MoreSecond Circuit Protects Multi-Step Recapitalization Under Bankruptcy Safe Harbor
The U.S. Court of Appeals for the Second Circuit has upheld the application of the Bankruptcy Code’s Section 546(e) “safe harbor” provision in the In re Boston Generating case. The Court rejected claims that Boston Generating’s cash transfer to its parent was a fraudulent transfer, ruling that the entire recapitalization transaction was safe-harbored as it…
Read MoreIn Re Cortlandt Liquidating, LLC
Bankruptcy Court Ruling Caps Landlord Claims in Bankruptcy for Debtors and Debtor-Guarantors. Lincoln Triangle Comm. Holding Co. v. Halperin (In re Cortlandt Liquidating LLC), 658 B.R. 244 (S.D.N.Y. 2024). In In re Cortlandt Liquidating LLC, on appeal from a bankruptcy court order, the United States District Court for the Southern District of New York ruled…
Read MoreRestructuring Strategies Compared in The Oil & Gas Sector
Between 2010 through 2014, many United States oil and gas upstream companies borrowed money and bid against each other to buy up prospective shale reserves around the country suitable for fracking. When prices were high, these companies made money and transformed the United States from a net oil importer to an exporter. But Saudi Arabia…
Read MoreChapter 22 Bankruptcy Cases: Your Questions Answered
What is a “Chapter 22” case? “Chapter 22” refers to repeat chapter 11 filings. Although the term is used to mean any repeat chapter 11 filings by a debtor, it best describes situations when either the first chapter 11 case is still ongoing (e.g., a confirmed plan of reorganization is still being implemented) or the…
Read MoreProof of Claim: Are You Sure You Want to File It?
Six Things to Consider A claim holder asserts a claim against a debtor in bankruptcy by filing a proof of claim (an equity holder asserts a proof of interest). In most bankruptcy cases, a “bar date” is set that establishes the deadline by which creditors must file their proofs of claim. This “bar date” is…
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