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Uniform Commercial Code (UCC) Bankruptcy Code Bankruptcy Court

Husch Blackwell LLP

Is Electricity A Good Or A Service Under The Priority Provisions Of 11 U.S.C. § 503(B)(9)

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Section 503(b)(9) of the Bankruptcy Code allows an administrative expense “for the value of any goods received by the debtor within 20 days before the date of the commencement of a case under this title in which the goods...more

ArentFox Schiff

Understanding Suppliers’ Rights and Remedies in Retail and Hospitality Bankruptcies

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On May 14, Outfox Hospitality LLC, the parent company of the retail chain Foxtrot Market, along with its affiliates, filed for Chapter 7 bankruptcy protection in the Bankruptcy Court for the District of Delaware, with the...more

Lowenstein Sandler LLP

Is the Spark Gone?

Section 503(b)(9) of the Bankruptcy Code gives a massive boost to creditors that sold goods to a financially distressed customer shortly before the customer’s bankruptcy filing. While claims for goods sold before a bankruptcy...more

Levenfeld Pearlstein, LLC

Who Owns Crypto Assets? Know the Risks

Until recently, the nature of ownership of assets on deposit with a third party was not controversial. If a local bank branch goes bankrupt, the cash or other assets deposited with the bank belonged to individual...more

Nelson Mullins Riley & Scarborough LLP

Does Electricity Supplied Within 20 Days of a Bankruptcy Qualify for Section 503(b)(9) Priority Status? Recent Decisions Say “No”

Section 503(b)(9) Overview - Ever since its addition to the Bankruptcy Code in 2005, there has been an ongoing debate as to whether electricity is a “good” or a “service” for purposes of section 503(b)(9). If electricity...more

Pillsbury Winthrop Shaw Pittman LLP

Alternating Current Yields Alternating Decisions on Bankruptcy Priority Treatment

Courts remain divided as to whether electricity is a good (resulting in an administrative claim for electricity provided in the 20-day period before a bankruptcy case is filed) or service (no administrative claim). ...more

Nelson Mullins Riley & Scarborough LLP

A Rose by Any Other Name Might Get Your Lien Stripped Under Florida Law

To the long list of things people love about lawyers we can add last week’s holding by the Eleventh Circuit Court of Appeals that “Blvd.” is utterly unrecognizable as “Boulevard” – at least by Article 9 of the Uniform...more

Proskauer Rose LLP

The Other Side of The Coin: Cryptocurrency Assets in Bankruptcy

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On July 5, 2022, cryptocurrency brokerage Voyager Digital filed for chapter 11 in the Southern District of New York Bankruptcy Court, citing a short-term “run on the bank” due to the “crypto winter” in the cryptocurrency...more

Bowditch & Dewey

Getting Paid in Bankruptcy – Part II, Goods and Services

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In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

Bowditch & Dewey

Getting Paid in Bankruptcy – Part I, Lender Claims

Bowditch & Dewey on

In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

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