Rimon

Entries tagged “creditors”

Third circuit affirms plan distributions are not proceeds of collateral

insights Third circuit affirms plan distributions are not proceeds of collateral Douglas J. Schneller · July 29, 2019

In Energy Future Holdings Corp. v. Morgan Stanley Capital Grp., Inc., 2019 U.S. App. LEXIS 18458 (3d Cir. 2019) (“EFH”), the United States Court of Appeals for the Third Circuit issued an important, albeit nonprecedential, opinion about whether adequate protection payments and plan distributions made during a bankruptcy case should be re-allocated in accordance with the…

Continue Reading…

3rd Circuit and Delaware Bankruptcy Court Hold That “Receipt” Under Bankruptcy Code Section 503(b)(9) Requires Physical Possession

insights 3rd Circuit and Delaware Bankruptcy Court Hold That “Receipt” Under Bankruptcy Code Section 503(b)(9) Requires Physical Possession 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.…

Continue Reading…

Insolvency of Alitalia Puts Creditors on Notice to Make Claims

insights Insolvency of Alitalia Puts Creditors on Notice to Make Claims Douglas J. Schneller · Insolvency of Alitalia Puts Creditors on Notice to Make Claims Emma R. Larson · Insolvency of Alitalia Puts Creditors on Notice to Make Claims 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…

Continue Reading…