by Matthew Gensburg | May 21, 2021 | GCK on Law
A chapter 11 debtor generally may not make payments or other distributions on account of prepetition claims except through a confirmed plan of reorganization or court-authorized liquidation. See 11 U.S.C. §1129(b)(1). See also In re Windstream Holdings Inc., 614...
by Matthew Gensburg | May 10, 2021 | GCK on Law
It has been stated that under general equitable principles of insolvency law, interest ceases to accrue at the beginning of a bankruptcy case. Three reasons have been given for this rule: (1) postpetition interest is a penalty imposed for a delay of payment required...
by Matthew Gensburg | Mar 10, 2021 | GCK on Law
Section 546(a) of the Bankruptcy Code sets a two-year time limit for the commencement of avoidance actions on behalf of the bankruptcy estate. This provision was amended in 1994 to provide an additional year for such actions running from the date of the...
by Matthew Gensburg | Mar 1, 2021 | GCK on Law
In order to confirm a Chapter 11 plan, the debtor must meet the requirements of 11 U.S.C. §1129(a). In connection therewith, subject to the exception contained in Section 1129(a)(8), all impaired classes under the plan must vote in favor of acceptance of the plan. ...
by Matthew Gensburg | Feb 22, 2021 | GCK on Law
Section 554(c) of the Bankruptcy Code provides that, unless the court orders otherwise, “any property scheduled under section 521(a)(1) of this title not otherwise administered at the time of the closing of a case is abandoned to the debtor.” Surprisingly, courts...
