Two recent decisions in the Madoff bankruptcy cases illustrate that the legacy of Bernie Madoff will long survive the man himself.
Bernie Madoff died on April 14, 2021, while incarcerated in the Federal Medical Center in...more
11/9/2023
/ Avoidance ,
Bankruptcy Code ,
Bernie Madoff ,
Capital Markets ,
Clawbacks ,
Commercial Bankruptcy ,
Extraterritoriality Rules ,
Foreign Sovereigns ,
Fraudulent Transfers ,
Ponzi Scheme ,
Safe Harbors ,
Sovereign Immunity ,
Trustees
Much has been written about how to calculate the appropriate interest rate for the deferred cash payments a debtor may propose to pay to a rejecting secured creditor under a “cramdown” Chapter 11 plan to meet the “fair and...more
The Sixth Circuit’s recent decision in Digital Media Solutions v. South Univ. of Ohio, 59 F.4th 772 (6th Cir. 2023) provides a cautionary tale about the limitations of federal equity receiverships as a restructuring tool. It...more
8/22/2023
/ Appeals ,
Class Action ,
Corporate Officers ,
Court-Appointed Receivers ,
Creditors ,
Debt Restructuring ,
Directors ,
Nonprofits ,
Quasi In Rem Jurisdiction ,
Receivership ,
Remand ,
Reversal ,
Settlement ,
Subsidiaries ,
Third-Party Release Agrements
This alert highlights a recent decision by Judge Michael E. Wiles in the Bankruptcy Court for the Southern District of New York (“SDNY”), which held that lease rejection damages should be calculated using the “time approach”...more