Bankruptcy attack?

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lightsandbuzz
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Joined: Fri Dec 17, 2010 4:47 pm

Bankruptcy attack?

Postby lightsandbuzz » Tue Apr 10, 2012 2:56 pm

Any tips on the best way to attack a lengthy, issue-spotting bankruptcy question?

imchuckbass58
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Joined: Mon Mar 16, 2009 3:24 pm

Re: Bankruptcy attack?

Postby imchuckbass58 » Tue Apr 10, 2012 5:11 pm

Just treat it chronologically - there's a logical order that goes something like this:

(1) Eligibility/which chapter (maybe not an issue if you only talk about corporate bankruptcy)
(2) Automatic stay/arguments to lift the stay w.r.t. certain issues
(3) Post-petition financing/363 issues (if applicable)
(4) Avoiding powers (incl. strong arm, statutory liens, preference power, and fraudulent transfers). Make sure to analyze who's liable for any transfers that end up being avoided (i.e., can you read second-degree transferees).
(5) Assumption/rejection of contracts
(6) Claims process and priority
(7) Plan confirmation (if 11/13), or distribution (if 7)

Edit: Not really sure where issues like equitable subordination or substantive consolidation fit in - probably worth talking about when you talk about priority, if it's applicable.

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Bronte
Posts: 2128
Joined: Sun Jan 04, 2009 10:44 pm

Re: Bankruptcy attack?

Postby Bronte » Tue Apr 10, 2012 11:09 pm

imchuckbass58 wrote:Just treat it chronologically - there's a logical order that goes something like this:

(1) Eligibility/which chapter (maybe not an issue if you only talk about corporate bankruptcy)
(2) Automatic stay/arguments to lift the stay w.r.t. certain issues
(3) Post-petition financing/363 issues (if applicable)
(4) Avoiding powers (incl. strong arm, statutory liens, preference power, and fraudulent transfers). Make sure to analyze who's liable for any transfers that end up being avoided (i.e., can you read second-degree transferees).
(5) Assumption/rejection of contracts
(6) Claims process and priority
(7) Plan confirmation (if 11/13), or distribution (if 7)

Edit: Not really sure where issues like equitable subordination or substantive consolidation fit in - probably worth talking about when you talk about priority, if it's applicable.


Equitable subordination would go under number 4, substantive consolidation under number 1 or 2. Good outline.




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