Business Law Insolvency Law Committee

Bankruptcy Court Can Extend Its Own Expired Deadline for Assumption of Executory Contract Pursuant to Fed. R. Bankr. P. 9006(b)(1)(2) for Excusable Neglect. Read more

Purchaser of Real Estate Does Not Have Constructive Notice of a Seller’s Alias That Does Not Appear in the Chain of Title. Read more

Funds Transferred by Debtor During Chapter 13 Should Be Considered Property of the Converted Estate Under § 348(f)(1)(A). Read more

Please be advised that on December 4, 2020, the California Secretary of State, Business Program Division circulated the following announcement detailing the temporary suspension of certain corporate services, including expedited and preclearance filing services, and the closure of the Los Angeles Regional office. Read more

Modification of Chapter 13 Plan Appropriate to Capture Post-Petition Income Earned After Confirmation and Would Be Sufficient To Pay All Creditors in Full. Read more

Rights and remedies of a seller under PACA could be assigned to a factoring company, allowing the factoring company to sue the buyer and its principals in tort even when buyer mistakenly paid the account in full to seller rather than to assignee. Read more

Creditor's prepetition avoidance claim reverted to the creditor when abandoned by the Chapter 7 trustee. Read more

Amazon held strictly liable for a defective product sold on its website where Amazon was in the chain of distribution of the defective product. Read more

Both courts concluded that proceeds recovered under Bankruptcy Code section 551 should be used to pay general unsecured creditors rather than the junior lienholder. Read more

The US Supreme Court's recent Acevedo decision does not prevent the bankruptcy court from retroactively lifting the automatic stay. Read more