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      <title>Bankruptcy Law Insights</title>
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      <description>Kelley Drye &amp; Warren LLP Bankruptcy and Restructuring Practice Group</description>
      <language>en</language>
      <copyright>Copyright 2012</copyright>
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      <pubDate>Thu, 02 Feb 2012 11:42:04 -0500</pubDate>
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         <title>Madoff Trustee Seeks Summary Judgment With Respect To Fictitious Profits, Mets&apos; Owners With Respect to Principal Repayments -- &quot;Jack Sprat&quot; Approach Could Resolve Entire Case</title>
         <description><![CDATA[The adversary proceeding of Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (&ldquo;BLMIS&rdquo;), against Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the &ldquo;Wilpon/Katz Group&rdquo;), could be substantially resolved over the next few weeks. Although the trial]]></description>
         <link>http://www.bankruptcylawinsights.com/2012/02/articles/bankruptcy/madoff-trustee-seeks-summary-judgment-with-respect-to-fictitious-profits-mets-owners-with-respect-to-principal-repayments-jack-sprat-approach-could-resolve-entire-case/</link>
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         <pubDate>Thu, 02 Feb 2012 11:35:30 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Five Weeks Until Pitchers and Catchers Report, Eight Weeks Until Lawyers Report - Madoff Judge Confirms Mid-March Trial For Trustee&apos;s Claims Against Mets&apos; Owners</title>
         <description><![CDATA[Judge Jed S. Rakoff this week denied the request of Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (&ldquo;BLMIS&rdquo;), to pursue an immediate appeal of Judge Rakoff&rsquo;s recent decision to dismiss most of the counts set forth in Picard&rsquo;s adversary proceeding against Fred Wilpon and Saul Katz,]]></description>
         <link>http://www.bankruptcylawinsights.com/2012/01/articles/bankruptcy/five-weeks-until-pitchers-and-catchers-report-eight-weeks-until-lawyers-report-madoff-judge-confirms-midmarch-trial-for-trustees-claims-against-mets-owners/</link>
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         <pubDate>Thu, 19 Jan 2012 12:00:59 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>The Right Kind of Broke?  Judge Weighs Deeply Insolvent County&apos;s Eligibility For Chapter 9 Protection</title>
         <description><![CDATA[The travails of Jefferson County, Alabama are well known. Ordered by a federal court to upgrade its sewer system in the late 1990&rsquo;s, the project was marred by corruption, cost overruns and financing with complex derivatives that ultimately saddled the County with over $3 billion in debt. In addition, an]]></description>
         <link>http://www.bankruptcylawinsights.com/2012/01/articles/bankruptcy/the-right-kind-of-broke-judge-weighs-deeply-insolvent-countys-eligibility-for-chapter-9-protection/</link>
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         <pubDate>Fri, 06 Jan 2012 11:35:55 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Does a Single &quot;Or&quot; Excommunicate Congressional Intent From the Bankruptcy Code?  Supreme Court to Resolve Circuit Split on Credit Bidding</title>
         <description>The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. Amalgamated Bank on whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing the secured lender an opportunity to credit bid its debt. Determination of this question will</description>
         <link>http://www.bankruptcylawinsights.com/2011/12/articles/distressed-ma-1/does-a-single-or-excommunicate-congressional-intent-from-the-bankruptcy-code-supreme-court-to-resolve-circuit-split-on-credit-bidding/</link>
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         <pubDate>Tue, 13 Dec 2011 17:23:51 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Los Angeles Dodgers&apos; Chapter 11 Case: No Replay of Texas Rangers&apos; Drama</title>
         <description><![CDATA[A World Series as exciting as any in memory ended two weeks ago. Notwithstanding the end of the season, the Los Angeles Dodgers&rsquo; chapter 11 case offered the promise of more baseball-related thrills. Dodger&rsquo;s owner Frank McCourt and Major League Baseball (&ldquo;MLB&rdquo;) Commissioner Bud Selig appeared headed towards an epic]]></description>
         <link>http://www.bankruptcylawinsights.com/2011/11/articles/distressed-ma-1/los-angeles-dodgers-chapter-11-case-no-replay-of-texas-rangers-drama/</link>
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         <pubDate>Wed, 09 Nov 2011 11:39:39 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Judge Rakoff Squeezes Strike Zone for Madoff Trustee</title>
         <description><![CDATA[Judge Jed S. Rakoff last week largely sided with Fred Wilpon and Saul Katz, the owners of the New York Mets, and their families and affiliated enterprises (the &ldquo;Wilpon/Katz Group&rdquo;) on their motion to dismiss the adversary proceeding brought by Irving Picard, the trustee of Bernard L. Madoff Investment Securities]]></description>
         <link>http://www.bankruptcylawinsights.com/2011/10/articles/bankruptcy/judge-rakoff-squeezes-strike-zone-for-madoff-trustee/</link>
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         <pubDate>Fri, 07 Oct 2011 15:42:04 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>NewPage - A Good Old Fashioned Free-Fall Chapter 11 Case</title>
         <description><![CDATA[Last week&rsquo;s Chapter 11 filing by NewPage Corporation, a company with assets and liabilities in the billions of dollars, stands as a relative rarity in the current restructuring environment. Running contrary to the &ldquo;new normal&rdquo; in larger restructurings, NewPage filed for bankruptcy protection without a pre-arranged or pre-negotiated exit solution,]]></description>
         <link>http://www.bankruptcylawinsights.com/2011/09/articles/chapter-11/newpage-a-good-old-fashioned-freefall-chapter-11-case/</link>
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         <pubDate>Fri, 16 Sep 2011 14:59:32 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Mets&apos; Owners Swing for the Fences Against Madoff Trustee</title>
         <description><![CDATA[Fred Wilpon, Saul Katz, and their families and affiliated enterprises (the &ldquo;Wilpon/Katz Group&rdquo;) last week formally requested the dismissal of the adversary proceeding commenced by Irving Picard, the trustee of Bernard L. Madoff Investment Securities LLC (&ldquo;BLMIS&rdquo;). In a two hour hearing before U.S. District Court Judge Jed Rakoff, the]]></description>
         <link>http://www.bankruptcylawinsights.com/2011/08/articles/bankruptcy/mets-owners-swing-for-the-fences-against-madoff-trustee/</link>
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         <pubDate>Wed, 24 Aug 2011 14:25:25 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>So This Is Why Judges Bother to Write Dissenting Opinions -- Seventh Circuit Decision on Credit Bidding Vindicates Judge Ambro&apos;s Philadelphia Newspapers Dissent</title>
         <description><![CDATA[Critics of last year&rsquo;s decision on credit bidding by the Third Circuit Court of Appeals in the Philadelphia Newspapers chapter 11 case welcomed the Seventh Circuit&rsquo;s recent unanimous opinion in River Road Hotel Partners LLC. The Seventh Circuit expressly adopted the Judge Tom Ambro&rsquo;s cogent analysis in his Philadelphia Newspapers]]></description>
         <link>http://www.bankruptcylawinsights.com/2011/07/articles/distressed-ma-1/so-this-is-why-judges-bother-to-write-dissenting-opinions-seventh-circuit-decision-on-credit-bidding-vindicates-judge-ambros-philadelphia-newspapers-dissent/</link>
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         <pubDate>Tue, 26 Jul 2011 15:40:32 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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         <title>Los Angeles Dodgers Chapter 11 - Can They Get Kirk Gibson Admitted Pro Hac in Delaware?</title>
         <description>The Chapter 11 filing of the Los Angeles Dodgers is a desperate move by Frank McCourt to try to maintain his ownership of the team. At least McCourt, whatever his shortcomings as a major league franchise owner, chose wisely in selecting bankruptcy lawyers. Partners Bruce Bennett and Martin Bienenstock of</description>
         <link>http://www.bankruptcylawinsights.com/2011/07/articles/chapter-11/los-angeles-dodgers-chapter-11-can-they-get-kirk-gibson-admitted-pro-hac-in-delaware/</link>
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         <pubDate>Fri, 01 Jul 2011 15:58:11 -0500</pubDate>
         <author>bfeder@kelleydrye.com (Ben Feder)</author>
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