In In re Texas Comptroller of Public Accounts v. Patrick Taylor Adams, et al., Civ. A. No. 3:18-CV-727-L (N.D. Tex. May 31, 2020) [Dkt. No. 8], the District Court for the Northern District of Texas recently affirmed a bankruptcy court’s order reinstating the automatic stay against a creditor post-confirmation and preventing such creditor from exercising […]
Read MoreIn In re McDermott International, Inc., et al., Case No. 20-30336 (Bankr. S.D. Tex. May 20, 2020) [Dkt. No. 916], Judge Jones called into question the usefulness of the J. Alix Protocol in retaining turnaround advisors and their firms during a bankruptcy case. According to Judge Jones: While innovative at its inception, the Alix Protocol […]
Read MoreCreditor denied derivative standing in chapter 7 case.
Read MoreIn Shameeka Ien v. TransCare Corp., et al. (In re TransCare Corp.), Case No. 16-10407, Adv. P. No. 16-01033 (Bankr. S.D.N.Y. May 7, 2020) [D.I. 157], the Bankruptcy Court for the Southern District of New York recently refused to dismiss WARN Act claims against Patriarch Partners, LLC, private equity firm (“PE Firm“), and its owner, […]
Read MoreJoining three other bankruptcy courts, Judge Thuma of the District of New Mexico recently held that the rules issued by the Small Business Administration (“SBA“) that restrict bankrupt entities from participating in the Paycheck Protection Program (“PPP“) violated the Coronavirus Aid, Relief, and Economic Security Act, H.R. 748, P.L. 115-136 (the “CARES Act”), as well […]
Read MoreThe Southern District of New York recently reminded us in In re Firestar Diamond, Inc., et al., Case No. 18-10509 (Bankr. S.D.N.Y. April 22, 2019) (SHL) [Dkt. No. 1482] that equitable principles in bankruptcy often do not match those outside of bankruptcy. Indeed, bankruptcy decisions often place emphasis on equality of treatment amongst all creditors […]
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