vimarsana.com

Page 11 - ஒன்றுபட்டது மாநிலங்களில் திவால்நிலை நீதிமன்றம் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Ultimate Escapes files for bankruptcy protection

ORLANDO, Fla. – Ultimate Escapes, Inc. today announced that it had filed for protection under Chapter 11 of the U.S. ORLANDO, Fla. – Ultimate Escapes, Inc. today announced that it had filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware for itself and certain of its subsidiaries. The Board of Directors of UEI authorized the filing of a Chapter 11 petition following the recommendation of a Special Committee of UEI’s independent directors in order to protect UEI’s assets with a goal to maximize the value for all of its constituencies, including its creditors, its members and potentially its shareholders. The Company has requested that the Court approve the appointment of CRG Partners, LLC to provide the services of a Chief Restructuring Officer and supporting personnel, and UEI has also filed a variety of first day motions that will allow it to manage its critical operations with the goal of conti

Avoiding Foreign Transfers Based on Foreign Law Claims: Fairfield Sentry Cases Illustrate Broad Scope of Safe Harbor in Chapter 15 | Weil, Gotshal & Manges LLP

Fairfield Sentry IV 3 provide insight into, among other things, the interplay between the safe harbor provision of section 546(e) 4 of the Bankruptcy Code (the “Safe Harbor”) and chapter 15. Relying on section 561(d) 5 of the Bankruptcy Code, which makes the Safe Harbor applicable to chapter 15 cases “to limit avoidance powers to the same extent as in a proceeding under chapter 7 or 11,” the court extended the Safe Harbor to bar the avoidance of certain foreign transactions based on foreign law claims which resembled preference claims under section 547(b) 6 of the Bankruptcy Code and constructive fraudulent transfer claims under state and federal law. However, when the defendants attempted to use the Safe Harbor to bar certain constructive trust claims under foreign law, the court did not agree, finding that the constructive trust claims proceeded on different theories and different proof than the preference and constructive fraudulent transfer claims, denying app

© 2025 Vimarsana

vimarsana © 2020. All Rights Reserved.