A recent decision reminds creditors of the harsh consequences of failing to comply with a court imposed deadline for filing claims in a bankruptcy case. The U.S. Court of Appeals for the Third Circuit recently held in Ellis v. Westinghouse
Continue Reading Beware of Post-Confirmation Bar Dates In Chapter 11 Plans
Claims
Two Important Rulings on Payment of Indenture Trustee Fees in Chapter 11 Cases
By Ben Feder & Eric R. Wilson on
Two recent judicial decisions, Sanchez Energy and Tribune Media, highlight the challenges faced by indenture trustees and their professionals in chapter 11 cases where there are no recoveries to noteholders. Federal law requires that public debt be issued under …
Continue Reading Two Important Rulings on Payment of Indenture Trustee Fees in Chapter 11 Cases
Second Circuit Summarily Reverses Claims Trading Decision
The Second Circuit Court of Appeals, acting with unusual alacrity (oral argument was heard only one month ago), summarily reversed the district court decision in Longacre Master Fund v. ATS Automation Tooling Systems. The decision did not break any significant
…
Continue Reading Second Circuit Summarily Reverses Claims Trading Decision
Second Circuit To Weigh In On Trading of Bankruptcy Claims
The Second Circuit Court of Appeals recently heard arguments in a case that could have substantial implications on the trading of bankruptcy claims. While the court could choose to resolve the case, Longacre Master Fund, Ltd. v. ATS Automation Tooling Systems
…
Continue Reading Second Circuit To Weigh In On Trading of Bankruptcy Claims
When Does a “Claim” Arise? Third Circuit Overrules Frenville Test
The Third Circuit Court of Appeals issued an en banc opinion (pdf) today in which it overruled the Frenville standard for determining the existence of a "claim" for purposes of Section 101(5) of the Bankruptcy Code.
The decision, In re Grossman’s,
…
Continue Reading When Does a “Claim” Arise? Third Circuit Overrules Frenville Test
District Court Takes on Responsibility of Defining Dischargeable Environmental “Claims”
By Dana Kane on
Posted in Bankruptcy, Claims
The ongoing debate about the treatment of cleanup orders in bankruptcy looks to be getting a lot more interesting in the Second Circuit.
In a decision (.pdf) that could signal important precedent in the making, the United States District Court