Affirmed. Equity holder being paid in full for interest in debtor under plan cannot block plan by insisting on being equity holder in reorganized debtor. Going concern method was appropriate...
Judge(s):
MARTIN, ANDERSON, and COTE (District Judge (S.D.N.Y) sitting by designation)
Fifth Circuit AFFIRMED lower courts' rulings that bankruptcy court could exercise jurisdiction to interpret and enforce its own prior sale order. District Court further did not commit err by...
Summarized by David Banker , Womble Bond Dickinson (US) LLP
11 years 6 months ago
Citation:
Picard v. Fairfield Greenwich; Picard v. Schneiderman, 13‐1289‐bk (L) 13‐1392‐cv (CON); 13‐1785, (2d Cir. August 8, 2014)
Ruling:
The United States Court of Appeals for the Second Circuit held that the trustee for the liquidation of Bernard L. Madoff Investment Securities LLC (ʺBLMISʺ) and of the bankruptcy estate of...
- Debtor’s post-petition payment pursuant to a first-day wage order does not affect the calculation of preference liability and the new value defense.
- Statutory language is not clear but...
