3rd Circuit and Delaware Bankruptcy Court Hold That “Receipt” Under Bankruptcy Code Section 503(b)(9) Requires Physical Possession
insights Douglas J. Schneller · August 3, 2017
Section 503(b)(9) of the Bankruptcy Code provides a seller of goods with an administrative expense claim equal to the value of goods received by the debtor within the 20 day period prior to the bankruptcy filing. Two recent decisions provide important guidance for sellers and buyers of goods on the eve of a debtor’s bankruptcy.…
Insolvency of Alitalia Puts Creditors on Notice to Make Claims
insights Douglas J. Schneller · Emma R. Larson · Stephen Díaz Gavin · July 20, 2017
The May 2, 2017 bankruptcy filing for Alitalia might be the end of the journey for the troubled Italian flag carrier, but creditors in the U.S., Italy and elsewhere might still have a ticket to recover some claims. Alitalia has now also filed for bankruptcy protection in the U.S. under Chapter 15 of the Bankruptcy…
U.S. Supreme Court: Filing a Time-Barred Claim in a Chapter 13 Bankruptcy Case Does Not Violate the Fair Debt Collection Practices Act
insights Douglas J. Schneller · July 11, 2017
The U.S. Supreme Court recently issued a 5-3 decision holding that a creditor filing a proof of claim in a Chapter 13 bankruptcy case for a time-barred debt was not false, deceptive, misleading, unconscionable or unfair conduct in violation of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find this complementary…
U.S. Supreme Court: Purchaser of Defaulted Loans Not a Debt Collector Under the Fair Debt Collection Practices Act
insights Douglas J. Schneller · July 11, 2017
The U.S. Supreme Court recently held that a purchaser for its own account of a defaulted loan is not a debt collector within the meaning of the Fair Debt Collection Practices Act (FDCPA). Learn more here. > You may also find this complementary article of interest: U.S. Supreme Court: Filing a Time-Barred Claim in a Chapter 13 Bankruptcy Case Does…
First Circuit: Bankruptcy Court “Retention of Jurisdiction” Provision Requires More Than Mere Words
insights Douglas J. Schneller · July 11, 2017
The First Circuit recently ruled that the bankruptcy court lacked the authority to adjudicate disputes under a contract because there was no “arising under,” “arising in” or “related to” jurisdiction — in spite of the fact that the contract itself, previously approved by the bankruptcy court, included a provision giving that court jurisdiction. Learn more here.…
Client Alert: Only in New York? Assignee Permitted to Enforce Mortgage Without Being Holder of the Note
insights Douglas J. Schneller · June 9, 2017
Can an assignee of an interest in a mortgage and mortgage note by way of a written assignment enforce the underlying obligations under New York law if the original note was not delivered and indorsed to it? On May 31, 2017, in an unsigned opinion that will interest sellers and buyers of loans and other…
Client Alert: 2nd Circuit Affirms Debtor’s Decision to Nix Sale After Market Price Increases
insights Douglas J. Schneller · June 9, 2017
In a decision that will be of interest to distressed investors and sellers and buyers of bankruptcy claims, the United States Circuit Court of Appeals for the Second Circuit affirmed a lower court decision which permitted a claims seller – and debtor in bankruptcy – to disapprove a trade confirmation after the market price had risen…
Rimon Law Welcomes Finance and Restructuring Attorney, Douglas Schneller, as Partner to its New York City Office
news Douglas J. Schneller · May 1, 2017
(New York City) May 1, 2017 – Rimon is joined by finance and insolvency attorney, Douglas Schneller, as Partner in its New York City office. Mr. Schneller handles a broad range of complex transactional matters involving bank finance and lending; restructuring, bankruptcy and insolvency; trade and receivable finance; par, distressed and secondary investing and trading;…