The Bankruptcy Code allows bankruptcy trustees, debtors in possession, and official committees to hire attorneys, accountants, and other professionals to assist them in carrying out their statutory duties, with their fees to be paid by the bankruptcy […]
A recent decision by the District Court for the Eastern District of North Carolina demonstrates just how important it is for parties asserting rights under the Perishable Agricultural Commodities Act (PACA) to provide proper notice. Failing to correctly […]
Read Director Joseph Coleman's article in CRF New on setoffs. Setoffs- Cutting Your Losses Both Inside And Outside Bankruptcy
On May 26, 2015, continuing a springtime ritual for bankruptcy lawyers, the Supreme Court issued its latest "progeny of Stern" ruling on the adjudicative authority of the bankruptcy courts. In a 6-3 decision the Court held that "Our precedents make […]
How would you like to be paid only for work which, in hindsight, unquestionably resulted in a material benefit to your employer? That unsuccessful sales call? Freebie. That account you spent hours trying to collect, but ultimately had to write off? That […]
While Donald Trump’s presidential aspirations and “Celebrity Apprentice” hosting duties make for interesting copy, the most recent news concerning him relates to the bankruptcy case of Trump Entertainment and the interaction between […]
Part II of this series focused on the first element of section 1112(b)'s dismissal test: whether "cause" exists for the court to dismiss or convert the case. Once the judge determines that cause exists, the court must dismiss or convert […]
The Supreme Court is currently considering the case of Wellness International Network, Ltd. v. Shariff. As discussed in the blog post on February 16, 2015, at issue in the Wellness International Network case is "whether Article III of the United […]
In a recent ruling, the Ninth Circuit held that a seller was liable under the law of fraudulent conveyance to the bankruptcy trustee for the portion of the purchase price funded by a company controlled by the buyer, which was actually a Ponzi scheme, […]
The Supreme Court has an opportunity to clarify the constitutionality of the allocation of power between federal district courts and bankruptcy courts. On July 1, 2014, the Supreme Court granted certiorari in Wellness International Network, Ltd. v. Sharif […]
The enforcement of a liquidated damages clause can mean the difference between money in a party's pocket with little effort versus a protracted and expensive court battle. To learn more, click on the link below to an article recently published […]
Beginning in 2012, a distinguished group of bankruptcy attorneys, academics and judges known as the American Bankruptcy Institute (ABI) Commission to Study the Reform of Chapter 11 (the Commission) held periodic meetings throughout the U.S. to analyze […]