-
Categories
Tags
-
Recent Posts
- Court Finds Investment Advisor’s Payments to Customers Are Not Exempt From Avoidance Under Section 546(e) of the Bankruptcy Code
- Vitro Update: “Savings Clause” Fails to Save Vitro Subsidiaries From Involuntary Bankruptcy
- SDNY Denies Payment of Administrative Expense Claim by Relying on the Operative Document as a Whole and Rejecting a Statutory Rule of Construction
- Gaming Alert – New Jersey Governor Chris Christie Conditionally Supports Online Gambling – Boyd Gaming and Caesars Stocks Rally as a Result
- In re Hostess Brands, Inc.: Southern District of New York Bankruptcy Court Refuses to Send Cash Collateral Dispute to Arbitration
Archives
- March 2013
- February 2013
- January 2013
- December 2012
- November 2012
- October 2012
- September 2012
- August 2012
- July 2012
- June 2012
- May 2012
- April 2012
- March 2012
- February 2012
- January 2012
- December 2011
- November 2011
- October 2011
- September 2011
- August 2011
- July 2011
- June 2011
- May 2011
- April 2011
- March 2011
- February 2011
- January 2011
Monthly Archives: November 2011
Delaware Bankruptcy Court Considers Scope of Section 505(a) of the Bankruptcy Code
Securing a determination of a debtor’s tax liability is an issue that frequently vexes debtors in possession and trustees during the reorganization process. While section 505(a) of the Bankruptcy Code authorizes, with apparent clarity, bankruptcy courts to, inter alia, “determine the amount or legality of any tax,” taxing authorities often oppose motions for relief under section 505(a) and challenge bankruptcy courts’ jurisdiction to hear such motions.[i] Such was the case in a recent decision rendered by the Bankruptcy Court for the District of Delaware. Continue reading
Posted in Analysis, Gaming, Tax Issues
Tagged 505(a), Delaware
The Unclear Status of Stakeholder Negotiations in a Post-WaMu World
Among the several issues addressed in the September 13th opinion of the United States Bankruptcy Court for the District of Delaware in In re Washington Mutual, Inc., the distressed investment and restructuring community has been focused on the holding that the participation of certain noteholders (the “Settlement Noteholders”) in plan-related settlement negotiations and subsequent trading activity gave rise to colorable claims that could be asserted against them. This ruling has cast uncertainty upon creditors’ ability to play a constructive role in achieving successful reorganization outcomes by way of consensual agreement. In light of the essential policy interest favoring settlements over protracted litigation, the framework set forth in WaMu may have the regrettable effect of chilling creditor participation in negotiations that would otherwise serve to benefit all stakeholders. Continue reading
Posted in Analysis, Claims, Plans/Confirmation
Tagged Wamu, Washington Mutual
Bankruptcy Bullets – In re Yellowstone Mountain Club, LLC, No. 08-61570-11, 2011 WL 4625381 (Bankr. D. Mont. Sept. 30, 2011)
On September 30, 2011, the U.S. Bankruptcy Court for the District of Montana held, on remand, that (i) a global settlement initially approved on June 9, 2009 was subject to proper notice, proposed in good faith, and fair and equitable, … Continue reading
Posted in Claims, News, Plans/Confirmation
Tagged global settlement, notice