As we posted about back in November, the Supreme Court granted cert in the In re The Village at Lakeridge, LLC case. We’ve been following that case since March of 2016 regarding insider status in Chapter 11 bankruptcy cases. Originally, the Ninth Circuit Court of Appeals took up the broader issue of how bankruptcy
Happy New Year: The Best of 2017
Once again from my in-laws’ home in Potomac, Maryland, here’s Plan Proponent’s Best of 2017 post, a link by link Top 10 of our third year of blogging–although my wife just asked, in rather savage fashion, “Did you even have 10 posts this year?” Wow. (We had 11 posts, so one unlucky post about
Insider Status Travels With Claim? SCOTUS Now Has the Case (Sort Of)
Back in March of 2016, Tom wrote about In re The Village at Lakeridge, LLC. In that case, the Ninth Circuit Court of Appeals concluded that when MPB, the debtor’s sole member and a “statutory insider,” sold its claim to Dr. Rabkin, who was not an insider, Dr. Rabkin did not inherit MPB’s insider
The Los Angeles Dodgers in October: Bankruptcy Edition
The Los Angeles Dodgers are down 2-3 to the Houston Astros headed into tonight’s Game 6 of the World Series. And after a wild, 12 to 13 extra innings slugfest on Sunday, we figured we’d do what we do best: simmer the anticipation and the excitement with a bankruptcy post. Last year, we wrote about
Book Excerpt: A Southern Lawyer’s Lunch with Harvey Miller
(Photo Credit: Marilynn K. Yee/The New York Times)
On my drive home from New Year’s in D.C., I learned that my buddy Doug Ford, a commercial bankruptcy attorney in Atlanta at Quirk & Quirk, LLC, had self-published his book I Do My Own Stunts: Finding My Way as an Attorney. I’m not
Section 1129(d) and Tax Avoidance in Chapter 11 Plans
For our scintillating “Back to School” post, we’ll discuss 11 U.S.C. § 1129(d), which deals with those rare Chapter 11 plans whose “principal purpose” is the “avoidance of taxes.” For most, including judges, § 1129(d) is an afterthought. Until recently, it only crept into my practice by accident: I’ve got a 10 a.m. confirmation
Preserving Post-Confirmation Causes of Action – Part 2
In Part 1, we asked whether Bell Atlantic Corp. v. Twombly bears on the issue of preserving post-confirmation causes of action in Chapter 11 bankruptcy cases. That is, does § 1123(b)(3) impose Twombly‘s heightened “plausibility standard” on plan proponents seeking to preserve causes of action? We began to answer that question by reviewing
Preserving Post-Confirmation Causes of Action – Part 1
Does Bell Atlantic Corp. v. Twombly bear on the issue of preserving post-confirmation causes of action in Chapter 11 bankruptcy cases? That question occurred to my partner Ward Stone last month at Atlanta’s SBLI conference and I figured I’d try to answer it here. Although I didn’t find a case addressing the Twombly angle, I
Establishing Till-compliant Interest Rates in Chapter 11 without an Expert
The Association of Insolvency & Restructuring Advisors published its 1st Quarter 2017 Journal last Friday. Richard Gaudet, of HDH Advisors, LLC, and I wrote the article titled “Till Realized: Calculating Objective Chapter 11 Cramdown Rates without Expert Testimony.” The focus of the article is on the application of the U.S. Supreme Court
Revisiting David Cassidy and the Absolute Priority Rule
Two years ago this week–February 12, 2015 to be exact–Stone & Baxter launched Plan Proponent. 65 blog posts, 48 email subscribers, and almost 13,000 hits later, here we are. In honor of our 2 year anniversary, we figured we’d revisit one of the topics that started it all for our niche blog: the