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In a letter sent from behind bars, a key defendant in the Jan. 6 riot at the U.S. Capitol said he and fellow inmates have bonded in jail, and boasted that those attacking the building could have overthrown the government if they had wanted.
The letter is signed “the 1/6ers” and expresses no remorse for the assault on the Capitol, in which five people died. While no names appeared on it, ProPublica was able to determine, through interviews with his family and a review of his correspondence from jail, that it was penned by Guy Reffitt, a member of the Three Percenter right-wing militant group accused of participating in the riot. The letter said the inmates arrested for their role in the attack regularly recite the Pledge of Allegiance inside the Washington, D.C. jail and sing the national anthem “all in unison, loud and proud most everyda
TAKEAWAYS
Section 553 of the Bankruptcy Code requires “strict bilateral mutuality.”
Thus, a creditor cannot set off an obligation it owes to a bankrupt debtor against an obligation that the debtor owes to the creditor’s affiliate (a so-called triangular setoff).
Creditors cannot simply contract around section 553’s mutuality requirement it is a hard and fast prerequisite to any setoff effectuated in bankruptcy.
The Third Circuit’s recent decision in
In re Orexigen Therapeutics Inc., 990 F.3d 748 (3d Cir. 2021) holds that section 553 of the Bankruptcy Code, which governs creditor setoffs, requires “strict bilateral mutuality.” As a result, notwithstanding the parties’ contract, a creditor cannot set off an obligation it owes to a debtor in bankruptcy against an obligation that the debtor owes to the creditor’s affiliate (a so-called triangular setoff.)
PTON CLASS ACTION DEADLINE: Bernstein Liebhard LLP Reminds Investors of the Deadline to File a Lead Plaintiff Motion in a Securities Class Action Lawsuit Against Peloton Interactive, Inc.
05/11/2021 | 11:27am EDT
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NEW YORK, May 11, 2021 (GLOBE NEWSWIRE) Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces reminds investors of the deadline to file a lead plaintiff motion in a securities class action lawsuit that has been filed on behalf of investors who purchased or acquired the securities of Peloton Interactive, Inc. ( Peloton or the Company ) (NASDAQ: PTON) from September 11, 2020 through May 5, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Eastern District of New York alleges violations of the Securities Exchange Act of 1934.
Friends and Family Fraud: LLC Does It Tuesday, May 11, 2021
On Wednesday, May 5, 2021, the U.S. Securities and Exchange Commission (“SEC”) instituted an administrative proceeding under Rule 102(e) of the SEC Rules of Practice against Seth P. Levine, Esq., a 52-year-old New Jersey attorney (also admitted in New York) residing in Teaneck, Bergen County, New Jersey, regarding charges of fraud through his LLC. Levine consented to the SEC action and agreed to be suspended from appearing as an attorney before the SEC. This administrative action followed on the heels of two separate judicial proceedings in the United States District Court for the District of New Jersey: on March 18, 2021, Levine consented to the entry of a judgment of liability for committing securities fraud in a civil case brought by the SEC; and on the same date, he pled guilty to two-count information for committing bank fraud and securities fraud in a case prosecuted by the Acting U.S. Attorney for
Press release content from Globe Newswire. The AP news staff was not involved in its creation.
SKLZ INVESTOR ALERT: Bernstein Liebhard LLP Announces that a Securities Class Action Lawsuit .
Bernstein Liebhard LLPMay 11, 2021 GMT
NEW YORK, May 11, 2021 (GLOBE NEWSWIRE) Bernstein Liebhard, a nationally acclaimed investor rights law firm, announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the securities of Skillz Inc. (“Skillz” or the “Company”) (NYSE: SKLZ) from December 20, 2020 through April 19, 2021 (the “Class Period”). The lawsuit filed in the United States District Court for the Northern District of California alleges violations of the Securities Exchange Act of 1934.