Tag Archives: bankruptcy issues

The Bear Stearns decision made waves several years ago when the court refused to recognize two hedge funds' offshore insolvency cases, an outcome that I previously argued would confound chapter 15 and the cross-border cooperation it was meant to facilitate Read More… Continue reading →

Bear Stearns High-Grade Structured Credit Strategies Master Fund, Ltd., the U.S. Bankruptcy Court for the Southern District of New York held that two debtor hedge funds' Cayman Islands insolvency cases were unworthy of recognition under the new chapter Read More… Continue reading →

Recent amendments to the Federal Rules of Bankruptcy Procedure made important changes to the law governing proofs of claim, as well as to the Official Proof of Claim Form (See Official Form 10 with instructions attached). The changes went into effect Read More… Continue reading →

Did you know… that in the recent case of Re MF Global Hong Kong Limited [2011] HKCFI 1998, where money of one client in the segregated bank account of a failed brokerage cannot specifically be distinguished from that of another client, and practical Read More… Continue reading →

On April 19, 2012, the U.S. Bankruptcy Court for the Southern District of New York granted in part and denied in part JPMorgan Chase, N.A.’s motion to dismiss an adversary complaint filed by Lehman Brothers Holdings Inc. (“LBHI” Read More… Continue reading →

On May 1, 2012, Prince Sports, Inc. (“Prince”) and three affiliates (collectively, the “Debtors”) filed for Chapter 11 protection in the U.S. Bankruptcy Court for the District of Delaware. The Read More… Continue reading →

When a Ponzi scheme breaks, the government rushes to forfeit the assets that constitute or are derived from proceeds traceable to the crime. At the same time, creditors, thinking that they had properly secured their claims, try to grab those very same assets for themselves. Continue reading →

On April 16, 2012, the Supreme Court of the State of New York, Nassau County, entered an Order of Liquidation and Approval of the ELNY Restructuring Agreement (Order) and accompanying memorandum decision. The Order was entered over the objections of a Read More… Continue reading →

A recent opinion from the United States Bankruptcy Court for the Western District of New York shows that even the best laid strategies can return to haunt the insiders of a debtor. In Wallach v. Buchheit (In re Northstar Development Corp.), the Court Read More… Continue reading →

The Alabama Supreme Court issued an opinion this month that serves as a reminder that modifying a guaranteed loan can have unexpected results. In that case, the Borrower took out two loans from a bank, both secured by a mortgage on the same real property Read More… Continue reading →