ArticleCourt Reiterates That Debtor's Setoff Rights Trump Those Of ClaimantAt bottom, the Court reiterated that the Bankruptcy Code does not treat a debtor's and creditor's right to setoff equally.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleCPI Corp. Preference Actions FiledFrom April 24 to 27, 2015, Charles A. Stanziale, Jr., as the Chapter 7 Trustee of CPI Corp., et al., filed preference complaints seeking to avoid and recover alleged preferential transfers pursuant to Sections 547 and 550 of the Bankruptcy Code, and to disallow claims of the defendants pursuant to Section 502(d).United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleDismissal Of Preference And Fraudulent Transfer Claims GrantedIn the recent decision of George L. Miller v. Edward Welke, et al. (In re United Tax Group, LLC), Adv. Pro. No. 16-50088 (LSS), the Delaware Bankruptcy Court considered a motion for judgment on the pleadings in connection with the Trustee's complaint asserting preference and fraudulent transfer claims.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleFresh & Easy, LLC Files For Bankruptcy In DelawareOn October 30, 2015, Fresh & Easy, LLC ("Debtor" or "Fresh & Easy") filed a petition for bankruptcy under Chapter 11 of the United States Bankruptcy Code. United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleHercules Offshore Files For Bankruptcy AgainOn June 5th and 6th, 2016, Houston-based energy firm Hercules Offshore Inc. and its affiliated debtors filed for Chapter 11 bankruptcy protection before the United States Bankruptcy Court for the District of Delaware.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleIntervention Energy Holdings LLC Files for Chapter 11 ProtectionAnother North Dakota shale oil driller has filed for bankruptcy protection. United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleModular Space Corporation Files For Chapter 11 Bankruptcy ProtectionModular Space makes, leases and sells office trailers, mobile offices, temporary classrooms, modular office complexes and portable storage units.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleNew Judge Appointed To The Delaware Bankruptcy CourtJudge Stickles has thirty years of experience, previously working for Cole Schotz P.C. and Saul Ewing LLP. United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleOya Renewables – Bidding Procedures MotionOn November 6th, Oya Renewables Development LLC, et al. (the "Oya Debtors") filed a bidding procedures motion to approve the proposed bidding procedures in connection...United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticlePost-Petition Interest Excluded From Unsecured Indenture Creditor's ClaimThe U.S. Bankruptcy Court for the District of Delaware held in a recent opinion that post-petition interest should be excluded from an unsecured creditor's claim, as otherwise it would violate the plain meaning of Section 502(b)(2). United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticlePowerwave Preferences – Trustee Obtains Relief Regarding Service Of Foreign DefendantsThrough the Extension Order, the Court extended the deadline for the Trustee to serve process on foreign defendants in these actions to September 24, 2015.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticlePreference Actions Filed In NSC Wholesale Holdings In The Delaware Bankruptcy CourtStarting on October 14, 2020, NSC Wholesale Liquidating Trust ("NSC Trust"), the liquidation trust appointed by the by the United States Bankruptcy Court United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleSanta Fe Gold Corp. Files for BankruptcyOn August 26, 2015, Santa Fe Gold Corporation and three of its subsidiaries, filed voluntary petitions under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Court"). The case no. is 15-11761 and is pending before the Honorable Mary F. Walrath.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleUnited States Supreme Court Expands Power Of Bankruptcy Courts - Wellness Int'l v. SharifArticle III permits bankruptcy judges to adjudicate Stern claims with the parties' knowing and voluntary consent. Consent by parties also need not be in writing but can be determined through conduct.United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleWardman Hotel Owner, LLC Files For Bankruptcy In DelawareWardman Hotel Owner LLC ("Wardman" or "Debtor") filed for Chapter 11 bankruptcy on January 11, 2021, ending its management contract with Marriott International. United StatesInsolvency/Bankruptcy/Re-StructuringPierson Ferdinand LLP
ArticleAdvancement Claim For Expert Expenses Allowed – Holley v. Nipro Diagnostics, Inc.In the third decision issued by the Court of Chancery in connection with the action styled as Holley v. Nipro Diagnostics, Inc., Vice Chancellor Parsons ruled on whether a claim for advancement to the tune of $294,262.96 in consulting fees incurred by Holley related to an SEC action which was covered for advancement by prior order dated December 23, 2014.United StatesLitigation, Mediation & ArbitrationPierson Ferdinand LLP
ArticleChancery Issues Sanctions For Deposition MisconductIn the recent opinion in the consolidated action of In re Shawe & Elting, LLC, C.A. No. 9661-CB (Del. Ch. Aug. 14, 2015), the Court of Chancery granted a motion for sanctions in connection with deposition misconduct of an attorney admitted pro hac vice in the action. United StatesLitigation, Mediation & ArbitrationPierson Ferdinand LLP
ArticleCourt Of Chancery Amends Various Rules Pertaining To Trust Accountings And Guardianship ProceedingsAccording to a recent announcement, the Delaware Court of Chancery amended various rules to match current practices in the Court and to clarify the Court's expectations.United StatesLitigation, Mediation & ArbitrationPierson Ferdinand LLP
ArticleCourt Stays Consideration Of Action To Allow Arbitrator To Determine JurisdictionThe Delaware Court of Chancery has not uncommonly stayed actions in favor of a first-filed arbitration proceeding, especially for the purposes of allowing the arbitration panel to determine the scope of its jurisdiction.United StatesLitigation, Mediation & ArbitrationPierson Ferdinand LLP
ArticleDerivative Complaint Dismissed for Failure to Plead Bad FaithIn the recent decision of Brinckerhoff v. Enbridge Energy Co. Inc., C.A. No. 11314-VCS (Del. Ch. Apr. 29, 2016), the Court of Chancery dismissed a derivative complaint on the basis that it failed to plead allegations of wrongdoing.United StatesLitigation, Mediation & ArbitrationPierson Ferdinand LLP