Just Because We’re Siblings Doesn’t Mean I Want to Be Affiliated with You!
More often than not, it is the responsibility of bleary-eyed junior associates and paralegals to ensure that a debtor-corporate groups’ pile of petitions are filed in the correct sequence so as to...
View ArticleWhy Pasta Cooking Techniques Should Not Be Used in Litigation
When learning to cook pasta al dente, you may have been told to “throw it against the wall and see if it sticks.” While this technique has become an oft-used idiomatic expression that generally means...
View ArticleDelaware Business Judgment Rule Permits Dismissal of Complaint Alleging...
A recent decision from the Commercial Division of the New York Supreme Court, Giuliano et al. v. Gawrylewski et al., reaffirms the importance of Delaware’s business judgment rule as a procedural guide...
View ArticleThird Circuit Affirms Finding that Debtor’s Co-Defendant Lacked Standing to...
A wise and learned bankruptcy practitioner once quipped, “If you’re lonely and no one wants to talk to you, go to the bankruptcy court – they’ll listen to anyone.” But the recent decision of the Third...
View ArticleCircuit Split Watch: When (and Where) an Order Denying Confirmation is Final...
A recent decision by the Sixth Circuit Court of Appeals reminds debtors that, while they may enjoy certain privileges (such as exclusivity) in the plan proposal context, they also bear certain burdens....
View ArticleCourt Holds That Experts’ Valuation Testimony Has Little Value
If you’ve ever litigated valuation in bankruptcy, then you’re likely well versed in the three pillars of valuation analysis: discounted cash flow, comparable company, and comparable transaction. And...
View ArticleA Statutory Review of Bankruptcy Valuation Issues
Valuation issues arise at every stage of a large chapter 11 case. While many articles are devoted to the role of financial analysts (and, indeed, the American Bankruptcy Institute recently released a...
View ArticleWhen Things Are Just Outside Your Control
A recent decision out of the United States Bankruptcy Court for the Eastern District of New York, In re Milton Abeles, reminds secured creditors that when it comes to cash, perfection of a security...
View ArticleThe Statutory Definition of “Insolvent”– Part One
In our Slice of the Pie series, we’ll explore those sections of the Bankruptcy Code that implicate valuation. The series will also report on current cases where these provisions are at issue, and...
View ArticleThe Statutory Definition of “Insolvent” – Part Two – Chapter 9 Debtors
As a follow up to our first post on the Bankruptcy Code’s definition of insolvency as applied to corporate debtors, we now turn our exploratory lens towards the definition of insolvency as it applies...
View ArticleAll My Alter Egos Live in Texas . . .
When is an asset of a debtor’s non-bankrupt affiliate also an asset of the debtor’s estate? The latest answer to this question comes to us from the District Court for the Western District of Texas...
View ArticlePost-Vitro, SDNY Bankruptcy Court Approves Recognition Order Seeking...
In a previous blog post, we examined the Fifth Circuit Court of Appeals’ Vitro decision, in which it upheld the bankruptcy court’s denial of a request by a foreign debtor’s representative for...
View ArticleDespite Lack of Value, Seventh Circuit Permits Nonrecourse Secured Lender to...
In an issue of first impression before it, the Seventh Circuit Court of Appeals held in In re B.R. Brookfield Commons No. 1, LLC that the plain language of section 1111(b) of the Bankruptcy Code...
View ArticleUnreasonably Small Capital
In previous posts in our Slice of the Pie series, we examined the statutory definition of insolvency as applicable to corporate and municipal debtors, exploring the differences between balance sheet...
View ArticleMass Tort Bankruptcies and Valuation Considerations in the Claims Estimation...
In our previous entries in the Slice of the Pie series, we explored the art of valuation and the role of the artist, or valuation expert, in assisting a court’s determination of a debtor’s solvency...
View ArticleIn Pari Delicto — An Auditor’s Best Friend?
The fallout from the failures of Refco, Madoff, MF Global, and many other investment firms in the past decade has spawned numerous lawsuits against, among others, the firms’ advisors by trustees and...
View ArticleJudicial Estoppel, or Why You Can’t Talk Outside Both Sides of Your Mouth in...
Among equitable doctrines, the doctrine of equitable mootness — which essentially allows courts to dismiss appeals from bankruptcy confirmation or sale orders where, as a result of the plan going...
View ArticleThe Rural/Metro Decision and its Relevance to Reorganization
The recent decision by Vice Chancellor Laster of the Delaware Chancery Court, In re Rural/Metro Corp. Stockholders Litigation has generated substantial interest and discussion within the legal and...
View ArticleThe Interplay between Section 502(d) of the Bankruptcy Code and SIPA’s...
Canons of statutory construction are used frequently to resolve ambiguities in the Bankruptcy Code. In a recent decision arising out of the Madoff liquidation, Judge Rakoff of the Southern District of...
View ArticleThe Business Behind Renting a Resort Villa
Some of our readers may have had the pleasure of renting a resort villa during their summer vacation (electronic postcards of such fancy digs are always welcome at the Weil Bankruptcy Blog, especially...
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