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Lender Beware: David Kupetz Authors Article in the Recorder
In Grede v. Bank of New York Mellon Corp. (In re Sentinel Management Group, Inc.), the U.S. Court of Appeals for the Seventh Circuit held that a lender who should have discovered that its borrower lacked authority to pledge assets is not protected by a good faith defense to a fraudulent transfer action. Without this defense, the lender lost its security. Left with an …
An Expansive View of Bankruptcy Court’s Equitable Powers: David Kupetz Authors California Lawyer Article
The ongoing bankruptcy proceeding involving Caesars Entertainment is a large and complex matter. The Seventh Circuit, however, recently addressed what it described as a “straightforward” issue at the heart of the case. In the article “An Expansive View of Bankruptcy Court’s Equitable Powers,” published in California Lawyer, David Kupetz discusses the Caesars Entertainment case, as well as the Seventh Circuit’s ruling that that a …
The Impact of Chapter 11 on ‘Corporate Democracy’: David Kupetz Authors Bloomberg BNA Article
Corporate democracy involves the manner in which decisions governing the activities of a corporate entity are made. Courts have taken inconsistent views of whether shareholder participation in corporate democracy continues or is suspended following the commencement of a case under chapter 11 of the Bankruptcy Code. In David Kupetz’s Bloomberg BNA article “The Impact of Chapter 11 on ‘Corporate Democracy,’” he discusses the protections …
Structured Dismissal – An Increasingly Common Way to Exit Chapter 11 Bankruptcy: David Kupetz Authors Daily Journal Article
There are three conventional ways to exit a Chapter 11 bankruptcy case: confirmation of a reorganization plan; dismissal of the case, resulting in the parties returning to their pre-bankruptcy positions; and conversion of the case to a Chapter 7 case, where a trustee takes over and liquidates assets. However, a fourth alternative, known as a “structured dismissal,” is increasingly common. In his Daily Journal …
Collective Bargaining Agreements Trumped by Bankruptcy Code: David Kupetz Authors Law360 Article
The Bankruptcy Code contains special protections for employees covered by collective bargaining agreements (CBAs) compared to counter-parties to other types of executory contracts with debtor entities. Under Bankruptcy Code Section 365, the debtor may reject an executory contract that is burdensome to the bankruptcy estate. The U.S. Supreme Court in National Labor Relations Board v. Bildisco & Bildisco found that CBAs were executory contracts …
Asa S. Hami Interviews Judge Martin R. Barash for Insolvency Law Committee’s Second Judicial Profile
Asa S. Hami, co-Vice Chair of the State Bar’s Insolvency Law Committee (ILC), interviewed the Honorable Martin R. Barash, United States Bankruptcy Judge in the Central District of California, for the ILC’s second judicial profile. The profile addresses the 9th Circuit bankruptcy judge’s personal and professional background, his transition to the bench, judicial style, advice to attorneys who appear before him, and other issues …