Delaware Court Holds Enforcement of Intercreditor Agreement Does not Breach Duty of Good Faith and Fair Dealing

In LNV Corporation v. Ad Hoc Group of Second Lien Creditors (In re La Paloma Generating Company, LLC, Adv. Pro. No 19-50110 (JTD) (D. Del. January 13, 2020), a Delaware bankruptcy court recently held that actions taken by a senior secured… Read More ›

Fifth Circuit Restricts Double Recovery in Fraudulent Transfer Action

The laws of preferential and fraudulent transfers under the Bankruptcy Code can often seem theoretical and formulaic. When certain boxes are checked, it appears, at first blush, that a pre-bankruptcy transfer can be avoided, regardless of any intent or surrounding… Read More ›

New Jersey District Court Holds that No Evidentiary Hearing is Necessary to Appoint Chapter 11 Trustee

In MicroBilt Corporation v. Ranger Specialty Income Fund, L.P. et al. (In re Princeton Alternative Income Fund, LP), Case No. 3:18-CV-16557 (D.N.J. Nov. 27, 2019), the District Court for the District of New Jersey recently affirmed a bankruptcy court’s decision to… Read More ›

5th Circuit Upholds Subordination of Deemed Dividends Under Section 510(b)

In In re Linn Energy, LLC, 2019 WL 4149481 (5th Cir. Sept. 3, 2019), the Fifth Circuit recently reminded us that if a debt instrument looks like a security and quacks like a security, it likely is a security for purposes… Read More ›

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