Bankruptcy attack? Forum
- lightsandbuzz
- Posts: 32
- Joined: Fri Dec 17, 2010 4:47 pm
Bankruptcy attack?
Any tips on the best way to attack a lengthy, issue-spotting bankruptcy question?
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- Posts: 1245
- Joined: Mon Mar 16, 2009 3:24 pm
Re: Bankruptcy attack?
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.
(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.
- Bronte
- Posts: 2125
- Joined: Sun Jan 04, 2009 10:44 pm
Re: Bankruptcy attack?
Equitable subordination would go under number 4, substantive consolidation under number 1 or 2. Good outline.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.