by Matthew Gensburg | Jul 12, 2018 | GCK on Law
The courts are divided on whether substantive consolidation can occur with a nondebtor. 2 Collier on Bankruptcy ¶105.09[1][c] (15th ed.rev.2005). Some courts have allowed such consolidation. See, e.g., Fish v. East, 114 F.2d 177 (10th Cir.1940) (analyzing substantive...
by Matthew Gensburg | Jul 2, 2018 | GCK on Law
Courts have been split on whether a pre-petition agreement whereby the debtor agrees to waive the protection of the automatic stay under Section 362 of the Bankruptcy Code (“Code”) is enforceable. There are two general approaches: some courts have found that...
by Matthew Gensburg | Jun 25, 2018 | GCK on Law
Pursuant to Section 1112(b) of the Bankruptcy Code, a chapter 11 petition may be dismissed for cause if it appears that the petition was not filed in good faith. Marsch v. Marsch (In re Marsch), 36 F.3d 825, 828 (9th Cir.1994). A chapter 11 petition is not filed in...
by E. Philip Groben | Jun 22, 2018 | GCK on Law
Bankruptcy Rule 8002(a)(1) requires bankruptcy appeals be filed within 14 days of the entry of an adverse order. Thus, when faced with an adverse ruling, a would-be appellant must quickly consider the substantive merits and financial burden of an appeal. Part of...
by Matthew Gensburg | May 29, 2018 | GCK on Law
Rule 1009(a) provides that schedules “may be amended by the debtor as a matter of course at any time before the case is closed.” In In re Awan, 2017 WL 4179816 (Bankr.C.D.Ill.), the court dealt with the split whether a debtor has an automatic right to amend his/her...
by Matthew Gensburg | May 22, 2018 | GCK on Law
I. Business Judgment Rule – Generally The business judgment rule is a judicial doctrine arising from courts’ respect for corporate self-governance, as well as their dislike for second-guessing the business decisions of corporate directors and officers....
