Bankruptcy Tweets for May 2011 - Part II

Below are my twitter posts since my since my last post of May 8 of recent cases.  Several cases were relevant to matters I'm presently working on, so I'm sure many of you will similarly find a number of these cases of interest.  RSS Feeds are also available for those wanting instant gratification:

  • D-NJ: Pending BK case is proper venue for all "related to" actions & Ct not bound by contrary forum selection clause.
  • BK-CD-IL: Travel time ok but time for routine motions slashed where attys were "over-preparing for a battle with no foe."
  • BK-SDNY reminder-DE parent owes fiduciary duty to insolvent subsidiary & creditors have standing to enforce such duties.
  • 7th: Easterbrook on "best efforts" clauses in negotiations - party need not sacrifice its own interests in the process.
  • 7th: Easterbrook on "good faith" negotiations: be honest & don't opportunistically exploit the other side's sunk costs.
  • BK-DE: Trustee need not plead transferors' fraudulent intent with particularity; alleging "badges of fraud" sufficient.
  • BK-IL: Debt arising from an intentional breach of contract isn't excepted from discharge under § 523(a)(6).
  • BK-FL: Subst. consolidation of Perlman cases proper even if it destroys the trustee's "wrong payor" avoidance actions.
  • BK-TX: Standards for fee enhancement to restructuring mgrs governed by 2006 Mirant case, not 2010 SCOTUS op. in Perdue.
  • BK-ND-CA: Oversecured creditor not entitled to default rate of interest where its claim is paid in full in a ch 11 plan.
  • BK-CD-CA: "Absolute priority rule" survives the BAPCPA amendments and remains applicable in individual Chapter 11 cases.
  • BK-TX: Post-conf trustee lacks standing over §550 claims if plan limits assets & actions to those "as of effective date."
  • D-AZ certifies appeal to 9th: Can confirmed plan enjoin actions against non-debtor guarantor if there's no plan default?
  • BK-SDNY: Borders' motion to sell "de minimis" assets lacks several requisite procedural safeguards required by the Code.
  • BK-EDNY: Personal property lease can't be reaffirmed, only assumed under Code Section 365(p).
  • BK-HI reviews 9th Cir. view that Rooker-Feldman doctrine "has even less vitality in bankruptcy than in district court."
  • BK-HI: "In pari delicto defense is inapplicable when a trustee brings an action under sections 544(b) and 548."
  • BK-HI:"2 year period [to bring §548 claim] is a substantive element of the trustee's claim, not a statute of limitation."
  • BK-HI: Statute of limitations doesn't bar UFTA action for fraudulent tsf older than 4 yrs but discoverable < 1 yr pre-BK.
  • BK-IN reviews 3 different ways Cts examine the "economic realities" of whether a lease is a disguised security interest.
  • BK-DEL: Claims under CERCLA, the New Jersey Spill Act, & the New Jersey Joint Tortfeasors Contribution Law are non-core.
  • BK-EDNY: Client settlement preferential but contingent fee not recoverable; firm took proceeds for value & in good faith.
  • BK-ARK: LLC Operating Agreement's provision dissociating member that files BK unenforceable in contravention of BK Code.

Thanks for following!

© Steve Jakubowski 2011

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