2012 year in review – Part 2 *

USA - December 27 2012
In In re Charter Comm’cns, Inc., 2012 WL 3764706 (2d Cir. Aug. 31, 2012), the Second Circuit adopted an abuse of discretion standard for reviewing…

Co-authors: Doug Mintz, Joseph Zujkowski.

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2012 year in review – part 1 *

USA - December 21 2012
On March 9, 2012, Susheel Kirplani, the Court-appointed examiner in Dynegy Holdings, LLC’s bankruptcy case, issued a report setting forth his findings and…

Co-authors: Doug Mintz, Joseph Zujkowski.

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Fifth Circuit finds that an electricity requirements contract is a “forward contract” exempt from Bankruptcy Code’s avoidance powers *

USA - October 11 2012
On August 2, 2012, the United States Court of Appeals for the Fifth Circuit held that a requirements contract for electricity is a forward contract for purposes of section 546(e) of the Bankruptcy Code and, therefore, settlement payments made under the contract are exempt from avoidance as preferences.

Co-authors: Kenneth W. Irvin, Sarah Tucker , Audrey Aden Doline , Matthew J. Oliver.

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RadLAX review – Supreme Court requires debtor to permit credit bidding *

USA - May 29 2012
The Supreme Court held 8-0 that section 1129(b)(2) of the bankruptcy code requires that if a debtor proposes to sell property under a plan of reorganization it must permit secured lenders to submit credit bids in the sale process. 

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Just when I thought I was out . . . Eleventh Circuit rules in TOUSA that refinanced lenders can be “pulled back in” and held liable if a replacement loan is a fraudulent transfer *

USA - May 18 2012
On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had received from TOUSA, Inc. because the new loan TOUSA obtained to make those payments was a fraudulent transfer.

Co-authors: W. Joshua Brant , Timothy T. Brown , Douglas S. Mintz.

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