GCK On Law
Courts Disagree Whether Actual Prior Course of Dealing is Necessary to Ordinary Course Defense Under Section 547(c)(2)
Section 547(c)(2)(B) of the Bankruptcy Code was the former subjective component of the three-pronged test set forth in Section 547(c)(2) of the Bankruptcy Code and involves the question of whether the transfer was “made in the ordinary course of business or financial...
Subchapter V Confirmation: Fair and Equitable Cramdown under Section 1191(b)
Subchapter V of the Bankruptcy Code allows a debtor to confirm a “consensual” Subchapter V plan if the requirements of Section 1129(a), other than subparagraph 15, are met. However, the debtor may seek a “non-consensual” cramdown of a Subchapter V plan under Section...
Circuit Review of Third-Party Injunctions & Releases Under Sections 105(a) and 524(e)
Courts that permit third-party releases often rely on Sections 1129(a)(1), 1123(b)(6) and 105 of the Bankruptcy Code. In re Millennium Lab Holdings II, LLC, 2018 WL 4521941, at *20 (D.Del. Sept. 21, 2018). However, the issue of whether bankruptcy courts have the...
Can a Debtor Voluntarily Dismiss a Chapter 13 Case After a Motion to Convert has Been Filed?
Section 1307(b) of the Bankruptcy Code provides that “[o]n request of the debtor at anytime, if the case has not been converted under Sections 706, 1112, or 1208 of this title, the court shall dismiss a case under this chapter. Any waiver of the right to dismiss...
Restrictions on Amending Schedules Upon Reopening Case
Rule 1009(a) of the Federal Rules of Bankruptcy Procedure provides that schedules “may be amended by the debtor as a matter of course at any time before the case is closed.” This facially simple provision, however, has led to a, a split among the courts as to whether...