Halcón Resources Corp. et al (NYSE: HK) and 21 affiliates have filed chapter 11 petitions before the United States Bankruptcy Court for the District of Delaware (Lead Case No. 16-11724).
Not surprisingly, GM has now publicly asserted it will try every appellate option to try to change the 2d Circuit’s ruling that enforced the rights of claimants to a due process hearing before being deprived of state law rights against manufacturers of purportedly defective products.
Theoretically, a Russian debtor is able to reorganize.
A new fee structure in respect of insolvency fees payable to the Insolvency Service came into force on 21 July 2016, pursuant to The Insolvency Proceedings (Fees) Order 2016 (SI 2016/692) (the “Order”), which revokes The Insolvency Proceedings (Fees) Order 2004 (SI 2004/593) and all ten subsequent amendment orders.
On July 25, 2016, Judge Kevin Carey of the Delaware Bankruptcy Court issued a thorough decision pursuant to a motion for judgment on the pleadings analyzing the intersection of a preference defendant’s post-petition administrative claim and their preference exposure.
On July 20, 2016, a group of hedge funds holding Puerto Rico’s most senior public debt – general obligation bonds and debt guaranteed by the commonwealth – sued the island and its Governor, Alejandro Garcia Padilla, saying the island siphoned money away from bondholders in breach of the new U.S. law entitled the Puerto Rico Oversight, Management and Economic Stability Act (PROMESA), which, as previously reported, was signed by President Barack Obama on June 30, 2016.
The bankruptcy courts have a long history of being willing to use their judicial power under the Bankruptcy Code to prevent perceived efforts by debtors to inappropriately shield their assets from creditors.
Few issues involving the Fair Debt Collection Practices Act (FDCPA) are more hotly contested than whether filing a proof of claim on a time-barred debt violates the FDCPA.
Caught in the Cross-Fire: Student Loan Lenders and Servicers’ Risks in the Bankruptcy Fight Over College Tuition Clawbacks
Many parents hope to fund, in some part, their children’s college educations, and the federal government has created a system of incentives, including tax advantaged 529 plans, to support that expectation.
On July 13, 2016, Judge Kevin J. Carey denied a former shareholder’s (the “Movant”) Motion to Proceed Qui Tam (the “Motion”) against the chapter 11 debtors (the “Debtors”) in In re Syntax-Brillian Corporation, Case No. 08-11407 (KJC) (Bankr. D. Del. Jul. 13, 2016).