
On Friday September 28, 2023, the U.S. Supreme Court agreed to review the United States Trustee’s appeal from the Tenth Circuit Court of Appeal’s holding that the Office of the United States Trustee should refund overpayments made by chapter 11 debtors under the United States Trustee System Fund (Pub. L.
Continue Reading The Post-Siegel Fallout Continues: The Supreme Court Has Accepted Certiorari to Determine Whether a Refund of Overpayments Made by Chapter 11 Debtors in Accordance with the Unconstitutional Fee Hike Under the United States Trustee Program is an Appropriate RemedyOn August 30, the bankruptcy court for the District of Delaware confirmed Boxed Inc.’s second…
Continue Reading Chapter 11 Plan Confirmed in Boxed, Inc.The LTL Management, LLC (“LTL” or the “Debtor”) bankruptcy saga may be coming to an…
Continue Reading LTL Management, LLC Bankruptcy Dismissed (Again)Subscribe to the In Solvency Blog
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Effective January 1, 2023, the procedures for filing complex cases in the Southern District of Texas changed. The courts have made the procedures specific and detailed. Below are some of…
Continue Reading New Complex Case Procedures in the Southern District of TexasBy: Michael L. Temin and Martha B. Chovanes
Introduction
Imerys Talc American, Inc. (“Imerys”) filed bankruptcy in response to crushing liability imposed by mounting asbestos and talc personal injury claims…
Continue Reading Who Can Be A Future Claims Representative In The Third Circuit?Cryptocurrency Deposits Do Not Belong to Account Holders: New York Bankruptcy Holding Severs Customers’ Right and Title to Crypto Assets Deposited in Celsius Network Earn Program Accounts
In a recent decision by Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York presiding over cryptocurrency Chapter 11 megacase, In re…
Continue Reading Cryptocurrency Deposits Do Not Belong to Account Holders: New York Bankruptcy Holding Severs Customers’ Right and Title to Crypto Assets Deposited in Celsius Network Earn Program AccountsDuties of Claims Agents are Limited to the Scope of 28 U.S.C. § 156(c)
The Clerk of the Court (“Clerk”) is the “official custodian of the records and dockets of the bankruptcy court,” and when it appears that there will be a distribution to…
Continue Reading Duties of Claims Agents are Limited to the Scope of 28 U.S.C. § 156(c)Court Shocks Solvent PG&E with Electric Opinion Requiring High-Powered Interest Rates to Creditors
What rate of post-petition interest must a solvent debtor pay creditors whose claims are designated as unimpaired pursuant to Section 1124(1) of the Bankruptcy Code? [1] The answer can…
Continue Reading Court Shocks Solvent PG&E with Electric Opinion Requiring High-Powered Interest Rates to CreditorsSurviving Rule 12(b)(6) Motion Could Still Lead to Sanctions Under Bankruptcy Rule 9011
Surviving a motion to dismiss does not necessarily mean that counsel drafting a pleading will survive a motion for sanctions under Rule 9011 if they have not conducted a “reasonable…
Continue Reading Surviving Rule 12(b)(6) Motion Could Still Lead to Sanctions Under Bankruptcy Rule 9011The Aftermath of Siegel v. Fitzgerald: The Tenth Circuit Orders United States Trustee Program to Refund Chapter 11 Debtors’ Overpayment of United States Trustee Fees
As discussed in our prior blog post entitled, “The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program Unconstitutional –What Happens Next?…
Continue Reading The Aftermath of Siegel v. Fitzgerald: The Tenth Circuit Orders United States Trustee Program to Refund Chapter 11 Debtors’ Overpayment of United States Trustee FeesSubchapter V Eligibility: Congress Fixes CARES Act Provision That Excluded Affiliates of Issuers But Ignores Potential Eligibility for Foreign, Publicly Traded Companies and Affiliates
On February 19, 2020, the Small Business Reorganization Act (the “SBRA”) became effective and created a new subchapter V to chapter 11 of the Bankruptcy Code. As we have reported…
Continue Reading Subchapter V Eligibility: Congress Fixes CARES Act Provision That Excluded Affiliates of Issuers But Ignores Potential Eligibility for Foreign, Publicly Traded Companies and AffiliatesCourt Pulls Carpet Out from Under Trustee’s Preference Claim
The Eleventh Circuit sided with the Third Circuit in finding that a creditor’s administrative claim under 11 U.S.C. § 503(b)(9) does not offset its new value defense pursuant to 11…
Continue Reading Court Pulls Carpet Out from Under Trustee’s Preference ClaimAbout this Blog
Fox Rothschild’s Financial Restructuring & Bankruptcy practice offers comprehensive services to businesses facing a broad range of legal issues that can arise in major commercial bankruptcy filings or insolvency.