bankruptcy

Bankruptcy Court’s Equitable Powers Not Unlimited

Lest we forget, the U.S. Supreme Court recently reminds us that Bankruptcy Courts, unlike other federal courts, are courts of equity and law; however, while bankruptcy judges have a great deal of discretion to carry out the philosophy and purpose of the Bankruptcy Code, that power is constrained. In Law v. Siegel, the Supreme Court …

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Responding to Preference Demand Letters- a Primer

A debtor’s bankruptcy is never a good thing (usually it means little or no payments on the debt will be forthcoming). Even greater insult to this injury is to receive a demand letter from a chapter 7 Trustee asking that you return funds paid to you by the account debtor in the days or months …

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Is a Credit Cap Bid in Your Future?

In a much criticized decision, a bankruptcy court in Delaware recently held that cause existed to limit a secured creditor’s right to credit bid its claim at the amount it paid to purchase the claim.  In re Fisker Automotive, 2014 WL 210593 (Bankr. D. Del. 01/17/2014). Fisker, involved in green energy, manufactured electric vehicles financed …

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