Bankruptcy Tweets of 2011-2012 Cases - A Year in Review - V.9

Here's more in the continuing "Year in Review" series.  The inset photo is of the Senator Thad Cochran United States Bankruptcy Court in Aberdeen, Mississippi (pictures and story here), a 47,000 square foot complex that is home to the Bankruptcy Court for the Northern District of Mississippi, where Bankruptcy Judges Houston and Olack sit.  Last year there were 6,101 total bankruptcy filings in the Northern District of Mississippi.  By way of comparison, the Bankruptcy Court for the Northern District of Illinois--which could probably fit in the lobby of this mammoth structure--had the most filings at 59,093.  Talk about influence! 

·        SDNY notes that cases split re effective date of rejection per §365(d)(3), but most fix date at time of rejection order http://www.bankruptcylitigationblog.com/uploads/file/KPFashion-SDNY-Buchwald-8-29-11.pdf …

·         B-NM wont apply changes in 2010 Technical Corrections Act retroactively bec literal applic of orig. BAPCPA isn't absurd http://www.bankruptcylitigationblog.com/uploads/file/JRHaleContracting-BK-D-NM-Starzynski-8-29-11.pdf …

·         B-NM: Ordin. cash div. isn't stock disposition so its not cash collateral per §552(a)/ (b)(1) of Bank w/lien on stock. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11.pdf …

·         B-NM: Proper value measure per §362d2A not what Bank could get in sale but what DIP/BK Ttee could realize in reas time. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11 …

·         B-NM: §362d1 focuses on harm to sec. cr. from decline in coll. value & §362d2 focuses on benefit of stay to other crs. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11.pdf …

·         B-NM: At least 4 reasons to deny sec.cr. adeq. prot. per §362(d)(1) by compensating it for coll. erosion w/postpet int. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11.pdf …

·         B-NM provides good review of wide variety of adequate protection cases dependent on case-by-case fact determinations. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11.pdf …

·         B-NM doesn't resolve if only type of "bad faith" cause for stay relief per §362(d)(1) is a bad faith filing of BK case. http://www.bankruptcylitigationblog.com/uploads/file/Young-BK-D-NM-Jacobvitz-8-29-11.pdf …

·         B-IL-Only a perverse Stern reading gives BK Ct JD over estate claim v cr not filing a claim but not vs cr w/filed claim http://www.bankruptcylitigationblog.com/uploads/file/EmeraldCasino-BK-ND-IL-Wedoff-8-26-11.pdf …

·         B-MD: Std for assessing SARE Dbtr's plan under §362(d)(3) is "more exacting than the standard under § 362(d)(2)." http://www.bankruptcylitigationblog.com/uploads/file/27Redwood-BK-D-MD-Alquist-8-26-11.pdf …

·         B-SDNY review concepts of "center of main interest" & "establishment" in determining eligibility in ch 15 proceeding. http://www.bankruptcylitigationblog.com/uploads/file/MillenniumGlobal-BK-SDNY-Gropper-8-26-11.pdf …

·         B-SDNY: Foreign representative in a ch 15 case is entitled to the extensions of the time periods provided for in §108. http://www.bankruptcylitigationblog.com/uploads/file/MillenniumGlobal-BK-SDNY-Gropper-8-26-11.pdf …

·         B-SDNY: Center of Main Interest test for ch. 15 eligibility shd be determined as of filing date of foreign proceeding. http://www.bankruptcylitigationblog.com/uploads/file/MillenniumGlobal-BK-SDNY-Gropper-8-26-11.pdf …

·         B-MD: §362(d)(3) SARE stds not same as strict confirmation stds, as reorg plans aren't static & are subject to change. http://www.bankruptcylitigationblog.com/uploads/file/27Redwood-BK-D-MD-Alquist-8-26-11.pdf …

·         NYT Poll: New Poll Finds a Deep Distrust of Government. "A remarkable sense of pessimism & skepticism." http://nyti.ms/v9Eb7z

·         "Prices Rising, for Better & Worse" Imagine if food & energy were included in the CPI! Whither monetary expansion? http://on.wsj.com/u2VnG3 @WSJ

·         3d Cir: Mere exchange of future credit information is not per se price-fixing or group boycott under antitrust laws. http://www.bankruptcylitigationblog.com/uploads/file/MilbergFactors-3d-Cir-Greenaway-10-24-11.pdf …

·         3d Cir-Antitrust cplt vs. factors dismissed per Twiqbal bec. no demonstr. parallel conduct in declining/limiting credit http://www.bankruptcylitigationblog.com/uploads/file/MilbergFactors-3d-Cir-Greenaway-10-24-11.pdf …

·         3d Cir-Exchange of credit info by factoring cos w/out direct/circumst evid of agr fails as antitrust case per Twiqbal. http://www.bankruptcylitigationblog.com/uploads/file/MilbergFactors-3d-Cir-Greenaway-10-24-11.pdf …

·         B-TX reviews TX law re whether claim for conversion of electr. data exists but wont dismiss conversion claim just yet. http://www.bankruptcylitigationblog.com/uploads/file/YazooPipeline-BK-SD-TX-Isgur-10-14-11.pdf …

·         B-TX: In pari delicto cant indep. defeat trustee's standing to raise a claim & may not even apply ag. ttee in 5th Cir. http://www.bankruptcylitigationblog.com/uploads/file/YazooPipeline-BK-SD-TX-Isgur-10-14-11.pdf …

·         B-TX: Stern restricts BK Ct's auth. to enter final order or jdgmt but not pretrial orders w/in its statutory jurisd. http://www.bankruptcylitigationblog.com/uploads/file/YazooPipeline-BK-SD-TX-Isgur-10-14-11.pdf …

·         B-SDNY: §105(a) injunctions are authorized by statute so need not comply with traditional requirements of FRCP 65. http://www.bankruptcylitigationblog.com/uploads/file/BLMISvMaxam-BK-SDNY-Lifland-10-12-11.pdf …

·         B-SDNY: Contract w/NY choice of law prov. is, per 2d Cir, "a significant factor in a personal jurisdiction analysis". http://www.bankruptcylitigationblog.com/uploads/file/BLMISvMaxam-BK-SDNY-Lifland-10-12-11.pdf …

·         B-SDNY: Foreign action for decl. relief from Picard's claim is act for control over estate prop & violates §362(a)(3). http://www.bankruptcylitigationblog.com/uploads/file/BLMISvMaxam-BK-SDNY-Lifland-10-12-11.pdf …

·         Candid & personal Judge Posner interview: Likes Suskind's book; gen. works from home; clerks call him by his 1st name. http://www.chicagotribune.com/business/ct-biz-1024-office-space-posner-20111024,0,1330242.story …

·         B-TX: Stay will be conditioned on removing Maaco identifying signs/TM, but Ct wont shut down biz bec of noncompete cov. http://www.bankruptcylitigationblog.com/uploads/file/MCCHumble-BK-SD-TX-Paul-8-25-11.pdf …

·         B-AZ:Apply single priority date-day labor commenced-for all mech. liens, even if arising under diff. contracts w/owner http://www.bankruptcylitigationblog.com/uploads/file/MortgagesLTD-BK-D-AZ-Haines-10-20-11.pdf …

·         B-AZ: Equitable subrog. requires intent to subrogate to prior bank's secured position & evid. here suggests otherwise. http://www.bankruptcylitigationblog.com/uploads/file/MortgagesLTD-BK-D-AZ-Haines-10-20-11.pdf …

·         B-IL: Wanton disregard for the Code's atty disclosure reqts despite ample opp. to cure warrants severe sanctions. Ouch! http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: Guarantee of fees by insider or cr., or prior representation of them, is not a per se reason to disqualify atty. http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: 7th Cir citation to Grabill suggests agreement w/ idea that "potential conflicts" is a "contradiction of terms." http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: Prior-not present-rep. of party w/adverse interest might justify disqualif. per §327(a) despite 2d Cir. auth. http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: "Connections" disclosure per FRBP 2014(a) is much broader than "disinterested" & "interest adverse to estate." http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: "Inconceivable" that attorney could read Section 329(a) & not realize that a guarantee of fees must be disclosed http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: Atty who fails to disclose guarantee (and payment) of postpetition fees does so at its peril.http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …

·         B-IL: Atty who fails to file official form for disclosure of compensation, Form B-203 does so at its peril.http://www.bankruptcylitigationblog.com/uploads/file/GluthBros-BK-ND-IL-Barbosa-10-19-11.pdf …