Yesterday a panel of the U.S. Court of Appeals for the Ninth Circuit issued an opinion reversing a district court order dismissing an appeal from the bankruptcy court for lack of standing. See Harkey v. Grobstein (In re Point Center Financial, Inc.), Bankr. No. 16-56321, D.C. No. 8:16-cv-1336-DSF (May 29, 2018, 9th Cir.).
The
David Doty writes:
The U.S. Bankruptcy Court for the Northern District of California recently held that a Hong Kong resident who had made online purchases of wine through a California retailer was subject to personal jurisdiction. See Kasolas v. Yau, Adv. Pr. No. 18-04012 (N.D. Cal. Bankr. May 11, 2018).
The defendant, a Hong
Cambridge Analytica filed for bankruptcy under Chapter 7 of the Bankruptcy Code late last week and recently announced that it will be shutting down. We will be monitoring the case for interesting bankruptcy litigation updates that are expected to arise. Cambridge Analytica was a political consulting firm that came under fire related to private data
Recently, the U.S. Bankruptcy Court for the Eastern District of Pennsylvania clarified that funds returned to the debtor are not recoverable as intentional fraudulent transfers. See Holber v. Nikparvar (In re Incare, LLC), Adv. No. 14-0248 (Bankr. E.D.Pa. May 7, 2018).
The Debtor, Incare, LLC, was a medical care provider that provided services to
The United States Supreme Court recently issued a ruling in which it held that the Bankruptcy Code’s safe harbor provision § 546(e) does not prevent a trustee from clawing back transfers involving securities and financial institutions in circumstances when such institutions serve as mere pass-through entities for the transfer. The decision, Merit Management Group, LP
Official Committees’ of Unsecured Creditors can, and often do, have significant impacts on cases under chapter 11 of the Bankruptcy Code. Appointed pursuant to Section 1102 of the Bankruptcy Code, creditors’ committees ordinarily consist of creditors holding large claims against the chapter 11 debtor. The Bankruptcy Code (in, for example, Sections 1103 and 1104) provides
In PAH Litigation Trust v. Water Street Healthcare Partners, LP (In re Physiotherapy Holdings, Inc.), Case No. 13-12965 (KG), Adv. No. 15-51238 (KG), 2017 WL 5054308 (Bankr. D. Del. Nov. 1, 2017), the debtor entered into bankruptcy after a leveraged-buyout transaction (“LBO”). After a plan was confirmed, a resulting litigation trust brought actual and constructive
On March 5, 2018, the Supreme Court issued an opinion in U.S. Bank Nat’l Ass’n v. Village at Lakeridge, LLC, which addressed a single question: Whether the Ninth Circuit properly reviewed for clear error (rather than de novo) the Bankruptcy Court’s determination that a certain individual was not qualify as a non-statutory insider. The
The New York Law Journal recently published an article on the growing trend of third-party litigation funding in bankruptcy litigation.
Often when there is no cash available under a plan, unsecured creditors are assigned the rights of the debtor to bring avoidance actions and other litigation claims against third parties. These claims have the potential