SOUTHBAY LAW FIRM – INDUSTRY NEWS – WEEK ENDING June 9, 2024

Trends and Legislative Developments

Sub V Task Force Report In A Nutshell: Part 4—Plan Confirmation & The Silent Class

Understanding Suppliers’ Rights and Remedies in Retail and Hospitality Bankruptcies

Picking Bankruptcy Court Can Be Near Limitless in Virtual World

Reorganization

A False Rationale For Anti-Debtor Interpretations of Subchapter V (Avion & Cleary)

Can I Require a “True Up” in a Subchapter V Plan of Reorganization?

Executory Contracts

Assume and Wait – Delaware Bankruptcy Court Approves Debtors’ Novel Lease Assumption Strategy

Avoidance and Recovery

Courts Remain Divided on Whether Avoidance Actions are Estate Property That May be Sold

Cross-Border

Delaware Bankruptcy Court: “Center of Main Interests” for Purposes of Chapter 15 Recognition Must Be Determined on Debtor-by-Debtor Rather than Enterprise Group Basis

Cayman Islands Branch of FDIC-Insured U.S. Bank Ineligible for Chapter 15 Relief

Third Circuit Updates Its Standard for Granting Comity to Foreign Bankruptcy Proceedings