The Clerk of the Court (“Clerk”) is the “official custodian of the records and dockets of the bankruptcy court,” and when it appears that there will be a distribution to unsecured creditors in a bankruptcy case, the Clerk must keep a list of all claims filed.  28 U.S.C. § 156(c); Fed. R. Bankr. P. 5003(b). ... Continue Reading…More

The Eleventh Circuit sided with the Third Circuit in finding that a creditor’s administrative claim under 11 U.S.C. § 503(b)(9) does not offset its new value defense pursuant to 11 U.S.C. § 547(c)(4).  Auriga Polymers Inc. v. PMCM2, LLC as Trustee for Beaulieu Liquidating Trust, 40 F. 4th 1273 (11th Cir. 2022) The Debtor, Beaulieu,... Continue Reading…More

Joseph J. DiPasquale, a partner in Fox Rothschild’s Morristown, New Jersey and New York City offices, is set to co-moderate a presentation on important developments in bankruptcy law throughout 2021.  Described as a “hallmark session of the conference,” Joseph J. DiPasquale and M. Blake Cleary of Young Conaway Stargatt & Taylor will review the significant... Continue Reading…More

On December 21, 2020, the United States Trustee Program (USTP) published a final rule in the Federal Register, entitled the “Procedures for Completing Uniform Periodic Reports in Non-Small Business Cases Filed Under Chapter 11 of Title 11” (the “Final Rule”). See 28 C.F.R. § 58.8. Bankruptcy practitioners should be aware that the Final Rule becomes... Continue Reading…More

The Delaware Bankruptcy Court now has eight judges to manage its hectic caseload.  Judge Craig Goldblatt was sworn in as a United States Bankruptcy Judge for the District of Delaware on April 26, 2021.  Judge Goldblatt fills the seat of former Judge Kevin Gross, who retired in 2020. Prior to joining the bench, Judge Goldblatt... Continue Reading…More

On April 6, 2021, J. Kate Stickles was sworn in as a United States Bankruptcy Judge for the District of Delaware. According to an Announcement issued by the Delaware Bankruptcy Court, Judge Stickles fills the seat vacated by former Judge Kevin J. Carey, who retired in 2019. With Judge Stickles’ appointment, the Delaware Bankruptcy Court... Continue Reading…More

In many chapter 11 cases, a committee of unsecured creditors is formed early in the case to represent the overall interests of unsecured creditors. See 11 U.S.C. § 1102. Members of the committee hold a “fiduciary” obligation to the entire general unsecured creditors’ class. Notably, each member of an unsecured creditors committee is duty-bound to... Continue Reading…More

The Federal Rules of Bankruptcy Procedure (the “Bankruptcy Rules”) govern procedure in cases arising under title 11 of the United States Code. Over time, the Bankruptcy Rules have been amended, and were most recently amended in 2020. The 2020 amendments to the Bankruptcy Rules took effect on December 1, 2020, and govern all proceedings commenced... Continue Reading…More

In July 2020, the Court in In re Generation Res. Holding Co., LLC, 964 F.3d 958, 962 (10th Cir. 2020), held that subsequent transferees do not qualify as immediate or mediate transferees under Section 550(a)(2) because they did not possess the initial property transferred, and only possessed the proceeds of the transfer. In Generation, the... Continue Reading…More