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The Delaware Bankruptcy Insider is a premier blog designed to bring its readers a comprehensive analysis of the latest Delaware corporate bankruptcy news and rulings.  Brought to you by Ashby & Geddes, P.A.

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Practice Pointers: Bankruptcy Court Lacks Authority to Transfer Pursuant to 28 U.S.C. § 1631 and A Post-Petition Action Satisfies “Is Commenced” Element for Purposes of Mandatory Abstention

Troisio v. Erickson (In re IMMC Corp.), No. 15-1043 (GMS), 2018 WL 259941 (D. Del. Jan. 2, 2018), aff’d by No. 18-1177, 2018 WL 6259315 (3d Cir. Nov. 28, 2018)

In this Opinion from the Delaware District Court, Judge Sleet affirmed the Bankruptcy Court’s decision denying a liquidating trustee’s motion pursuant to 28 U.S.C. § 1631 to transfer an adversary proceeding to the United States District Court for the Eastern District of Pennsylvania. Relying on plain statutory language, the District Court found that the Bankruptcy Court lacked transfer authority under 28 U.S.C. § 1631… Read More

Bankruptcy Court Determines Issue of First Impression – Holds That Recovery Under Section 550 is Not Capped by The Amount of Creditor Claims

PAH Litigation Trust v. Water Street Healthcare Partners, L.P. (In re Physiotherapy Holdings, Inc.), Adv. Proc. No. 15-51238 (KG), 2017 WL 5054308 (Bankr. D. Del. Nov. 1, 2017)

On cross-motions for partial summary judgment, the Delaware Bankruptcy Court was confronted with a complex issue of first impression in the Third Circuit – whether damages in a fraudulent transfer action are capped to permit creditors to receive only the amount of their claims. Competing interests made the decision difficult.  On the one hand, there are numerous decisions outside of the Third Circuit holding that there is no cap… Read More

Judge Silverstein Tosses Bad Faith Filing in Rent-A-Wreck of America But Doesn’t Award Sanctions – Finds That a Filing to Employ the Powers of the Code is Alone Insufficient to Support Good Faith

In re Rent-A-Wreck of America, Inc., 580 B.R. 364 (Bankr. D. Del. 2018)

In this February 13, 2018 Opinion, Judge Silverstein of the Delaware Bankruptcy Court dismissed the voluntary chapter 11 proceedings filed by Rent-A-Wreck of America, Inc. (“RAWA”) and its wholly owned subsidiary, Bundy American, LLC (“Bundy”, and together with RAWA, the “Debtors”).  Judge Silverstein found that the Debtors did not file their petitions in good faith as required by 11 U.S.C. § 1112(b).  While the Court found that the Debtors’ actions in commencing the cases fell “on the dark side of the spectrum” which ranges… Read More