We continue this week with our Bankruptcy Judges series. Georgia’s Ret. Judge W. Homer Drake, Jr. is the focus. You can find the introductory post here. Last week we covered the first half of Judge Drake’s Top 10 Chapter 11 confirmation opinions (i.e., #10 through #6). You can find it here. And this week, we continue with the second half. However, rather than combining the #5 to #1 opinions all in one post, we figured we’d experiment with one case per post for a shorter post that’s easier to digest. Here is Judge Drake’s fifth most cited confirmation opinion.Continue Reading Judges Series – Judge Homer Drake’s Top 10 Confirmation Opinions – Part 2 (#5)
Post Confirmation
Eleventh Circuit Addresses Impact of Dismissal on a Confirmed Individual Chapter 11 Plan
We’ve had a slow start in 2018 and figured that we’d get back to basics with First National Bank of Oneida v. Brandt, an Eleventh Circuit Court of Appeals Chapter 11 confirmation decision from last month. Ultimately, the Court remanded to the district court on one issue: what’s the impact on a confirmed individual…
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…
Administrative Expenses under DIP Financing: The Joke’s On You
Admittedly, lawyers love gotchas. But in the Chapter 11 bankruptcy case of Molycorp, Inc., a lender’s attorney, who apparently sought to pull a gotcha, ended-up being got. Specifically, Judge Sontchi ruled last week against a secured lender in the Molycorp case after that lender objected to $8+ million in administrative expenses incurred by the…
Quarterly UST Reports and Fees in Reopened Chapter 11 Cases
In a reopened Chapter 11 case, the debtor must file quarterly reports and pay quarterly United States Trustee (UST) fees. I’m leading with the conclusion with the hope that this post shows-up in a search engine where and when you need it most. After all, sometimes you just need a quick answer to a…