Stay updated with breaking news from Bankruptcy Code Section. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The U.S. Court of Appeals for the Second Circuit has issued another decision in the Tribune Company Fraudulent Transfer Litigation,1 partially upholding the U.S. District Court...
Debtors and trustees are faced with the task of maximizing the value of bankruptcy estate assets in the face of many obstacles, such as limited liquidity runway and the competing...
Jody Bedenbaugh, attorney, focuses his practice in the areas of banking, creditors' rights, and bankruptcy. Jody represents banks in connection with regulatory and compliance issues, vendor relationships and outsourcing, and transactional matters.
Debtors and trustees are faced with the task of maximizing the value of bankruptcy estate assets in the face of many obstacles, such as limited liquidity runway and the competing interests of various creditor and equity constituencies.
To embed, copy and paste the code into your website or blog: On March 19, in a matter of first impression, the Third Circuit Court of Appeals (Court) held that triangular setoff is not permissible in bankruptcy due to Bankruptcy Code Section 553(a)'s mutuality requirement, and that parties cannot evade that requirement by contracting around it. See In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021). McKesson Corporation, Inc. (McKesson) and Orexigen Therapeutics, Inc. (Orexigen) were parties to a distribution agreement, where Orexigen would sell McKesson the drug Contrave, and Mc...