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Monthly Archives: June 2011
Bankruptcy Bullets – In re Pittsburgh Corning Corp., No. 00–22876 (Bankr. W.D. Pa. 2011)
On June 16, 2011, Judge Judith K. Fitzgerald of the U.S. Bankruptcy Court for the Western District of Pennsylvania denied confirmation of Pittsburgh Corning Corp.’s (“PCC”) plan of reorganization. The court’s denial focused on two plan provisions – the insurance neutrality provision and the asbestos permanent channeling injunction provision. Continue reading
Posted in News, Plans/Confirmation
Tagged asbestos, insurance neutrality
Bankruptcy Bullets – In re Mesa Air Group, Inc., 2011 WL 2028519 (Bankr. S.D.N.Y. May 25, 2011)
On May 25, 2011, Bankruptcy Judge Martin Glenn reduced Deloitte Tax LLP’s fee application by $44,000 due to excessive time billed for preparing, reviewing and editing time records. Continue reading
Posted in News
Tagged fee application
Bankruptcy Bullets – In re Borders Group, Inc., No. 11-10614 (Bankr. S.D.N.Y. June 2, 2011) (MG)
On June 2, 2011, Bankruptcy Judge Martin Glenn granted the Debtors’ motion pursuant to section 1121(d) of the Bankruptcy Code to extend the exclusive periods to file a plan of reorganization and solicit acceptances of the plan by 120 days, … Continue reading
Posted in News, Plans/Confirmation
Tagged exclusive period, plan
Living Wills: A User’s Guide To Dodd-Frank’s Bequest to Banks
In 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act. While many of its provisions have received greater publicity — such as the Orderly Liquidation Authority of Title II and the swap provisions of Title VII — the so-called “living will” provisions of Dodd-Frank are now receiving more focused attention. Continue reading
Posted in Analysis, Living Wills
Tagged Dodd-Frank, FDIC, Federal Reserve, Living Wills
Bankruptcy Bullets – In re Fairfield Sentry Limited, et al., No. 10-13164 (Bankr. S.D.N.Y. May 23, 2011)
On May 23, 2011, Judge Lifland granted, over the objection of various defendants in adversary proceedings commenced by the Debtors, the Debtors’ request for an extension of time to assert causes of action and investigate potential claims in their chapter … Continue reading
Posted in Claims, News
Tagged Madoff, Southern District