Yearly News Archives: 2014
What Happens in Detroit Comes Back to California
by Victor A. Sahn Published in the December 11, 2013 Edition of the Los Angeles Daily Journal On Dec. 5, U.S. Bankruptcy Judge Steven W. Rhodes issued a 143-page opinion which came to the conclusion that the city of Detroit is “insolvent,” desires to effectuate a plan to adjust its debts, and filed its Chapter 9 bankruptcy petition in good faith. Accordingly, the objections …
Substantive Consolidation: The Bankruptcy Court’s Power to Pierce Corporate Veils
by David S. Kupetz Published by Thomson Reuters in the Norton Journal of Bankruptcy Law & Practice (volume 23, issue 1, February 2014). ARTICLE PREVIEW: Substantive consolidation is the merging of the assets and liabilities of two or more related debtors into a single pool to pay creditors. Cases decided under the Bankruptcy Code and its predecessor, the Bankruptcy Act, have established that a …