Delaware Bankruptcy Court Transfers Cases to Illinois Summary of Judge Carey's memorandum opinion and order granting a motion to transfer venue in the jointly administered In re Qualteq, Inc., d/b/a VCT New Jersey, Inc., et al. (Case No. 11-12572) cases to the United States Bankruptcy Court for the Northern District of Illinois. Written by Evan T. Miller
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Diversity Provides Trustee with Opportunity to Transfer Proceeding Due to Lack of Bankruptcy Court Jurisdiction On February 14, 2012, Judge Carey, issued an opinion denying a liquidating trustee’s request to transfer venue of an adversary proceeding because of lack of bankruptcy court jurisdiction, but granting the liquidating trustee’s request to withdraw the reference for the limited purpose of seeking such a transfer. Summary written by GianClaudio Finizio
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Bankruptcy Court Rejects Challenge to Subject Matter Jurisdiction Based on Stern v. Marshall, In re Resorts Int’l, Inc. and Jury Trial Demand Judge Peter J. Walsh of the United States Bankruptcy Court for the District of Delaware (the “Court”) issued an opinion denying a motion to dismiss for lack of subject matter jurisdiction filed in an adversary proceeding captioned The Liquidating Trustee of the MPC Liquidating Trust v. Granite Financial Solutions, Inc., d/b/a Granite Data Solutions, Adv. Pro. No. 10-54299. Summary written by Colin R. Robinson
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Delaware Bankruptcy Court Reinforces Third Circuit’s Departure From Frenville On February 7, 2012, Judge Kevin Carey of the United States Bankruptcy Court for the District of Delaware issued an opinion disallowing a late-filed claim in In re New Century TRS Holdings, Inc., Feb. 7, 2012 (Case No. 07-10416-KJC) based, in part, on the Third Circuit’s recent holding in Jeld-Wen, Inc. v. Van Brunt (In re Grossman’s Inc.), 607 F.3d 114 (3d Cir. 2012). Summary written by Justin R. Alberto
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Court Issues General Order Governing Protocol for the Employment of Claims and Noticing Agents Under 28 U.S.C. § 156(c). On February 1, 2012, the Clerk of the United States Bankruptcy Court for the District of Delaware issued a general order governing the Protocol for the Employment of Claims and Noticing Agents Under 28 U.S.C. § 156(c). Summary written by Evan T. Miller
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Arbitration Provisions May Be Waived If Not Timely Raised. Summary of In re Magna Entertainment Corp. On January 30, 2012, Judge Mary F. Walrath, issued an opinion declining to stay a claim objection in favor of arbitration in In re Magna Entertainment Corp., 2012 WL 272847, Bkrtcy.D.Del., January 30, 2012 (NO. 09-10720 MFW). Written by GianClaudio Finizio
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Bayard's Stephen B. Brauerman published an article in the Delaware Business Court Insider. "A Director's Guide to Surviving Demand Futility: Lessons From Goldman Sachs" discusses In re Goldman Sachs Group, Inc. Shareholders Litigation.
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The ABI Journal publishes an article on priming setoff rights written by Bayard attorneys Finizio and Miller The article examines the impact of a DIP Lender’s priming liens pursuant to Bankruptcy Code section 364(d) on creditors’ setoff rights, which are treated as secured claims under the Bankruptcy Code.
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Podcast of Trisha W. Hall's presentation to the Philadelphia Bar Association Presentation topic: Captive Insurance Companies
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