Citation: Halo Wireless, Inc. v. Alenco Communications Inc. (In re Halo Wireless, Inc.), Case No. 12-40122 (5th Cir. June 18, 2012) Facts: Halo Wireless, Inc. was a small telecommunications company that provides wireless phone and data service to its customers pursuant to a license from the Federal Communications Commission (“FCC”). Starting in May 2011, private telephone […]
Read MoreThe Eleventh Circuit recently avoided, as fraudulent transfers, certain liens pledged by subsidiaries to secure a $500 million loan made to their parent, Tousa, Inc. See Senior Transeastern Lenders v. Official Comm. of Unsecured Creditors (In re Tousa, Inc.), No. 11-11071, 2012 WL 1673910 (11th Cir. May 15, 2012). These liens were avoided as upstream transfers that, pursuant […]
Read MoreOn May 29, 2012, the U.S. Supreme Court decided the well-monitored appeal in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank, where a chapter 11 debtor appealed the ruling of Seventh Circuit Court of Appeals that a debtor may not confirm a cramdown plan, proposing to sell encumbered assets free and clear of liens, without permitting the […]
Read MoreOn May 18, 2012, the Bankruptcy Court for the Northern District of Texas confirmed Reddy Ice’s chapter 11 plan, paving the way for the Company to exit bankruptcy. The Company announced that it would be prepared to exit bankruptcy in the next week or so. Reddy Ice filed for chapter 11 bankruptcy on April 12 […]
Read MoreIn Patricia Wright, et al. v. Owens Corning, Case No. 11-2026 (3d Cir. May 18, 2012), the Third Circuit Court of Appeals undertook the challenge of administering unknown future claims in bankruptcy. Future claims are generally known as claims that only become apparent until after a chapter 11 plan is confirmed and the debtor is discharged […]
Read MoreYesterday, Houghton Mifflin Harcourt Publishing Company and its affiliates (HMH), the leading provider of educational material to the elementary and secondary school market in the United States, filed bankruptcy in the Southern District of New York. The consolidated cases are docketed under Case No. 12-12171. The Company, which has published authors such as Mark Twain and J.R.R. Tolkien, sought […]
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