by Matthew Gensburg | Sep 16, 2020 | GCK on Law
For an oversecured creditor, a creditor with collateral that has a greater value than the amount of the creditor’s allowed secured claim, case law has established that the existence of an equity cushion may, in and of itself, constitute adequate protection, provided...
by Matthew Gensburg | Sep 2, 2020 | GCK on Law
Actions to avoid preferential transfers under Bankruptcy Code 547(b) are subject to certain defenses and limitations, including the ‘new value’ defense of Section 547(c)(4) which provides as follows: The trustee may not avoid under this section a transfer – to...
by Matthew Gensburg | Aug 5, 2020 | GCK on Law
The courts are split on whether the “contemporaneous exchange for new value” defense of Section 547(c)(1) of the Bankruptcy Code applies when a creditor foregoes perfecting a mechanic’s lien in exchange for payment. The identical issue exists in the context of...
by Matthew Gensburg | Jun 10, 2020 | GCK on Law
Section 362(c) of the Bankruptcy Code governs termination of the automatic stay. Under Section 362(c)(3)(A) of the Bankruptcy Code if a debtor has had a case pending within the preceding one-year that was dismissed, then “[t]he stay under Section (a) with...
by Matthew Gensburg | May 28, 2020 | GCK on Law
Courts have struggled with the specific issue of whether installment land sales contracts are executory contracts. Some consider installment land sales contracts to be executory, finding that performance remains on both sides, but the majority categorize them as...
by Matthew Gensburg | May 18, 2020 | GCK on Law
Removal of claims related to a bankruptcy case is governed by 28 U.S.C. §1452, which provides, in relevant part: A party may remove any claim or cause of action in a civil action * * * to the district court for the district where such civil action is pending, if such...
