by Matthew Gensburg | Sep 30, 2020 | GCK on Law
Section 1129 of the Bankruptcy Code governs confirmation of a Chapter 11 plan. Section 1129(b) of the Bankruptcy Code allows for confirmation of a plan over a creditor’s objection as long as certain requirements are met. One such requirement for cramdown is that the...
by Matthew Gensburg | Sep 23, 2020 | GCK on Law
Under 28 U.S.C. §1334, a federal district court has original jurisdiction over “all civil proceedings arising under title 11, or arising in or related to cases under title 11.” Significantly, Section 1334 does not distinguish between a court’s pre-confirmation and...
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...
