asset

Supreme Court Decision Settles The Section 1146(a) Transfer Tax Exemption Issue

Bob Eisenbach — Mon, 16 Jun 2008 21:36:34 +0000

On June 16, 2008, the United States Supreme Court issued its decision in Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc., the case involving whether Section 1146(a) of the Bankruptcy Code, which exempts from stamp or similar taxes any asset transfer “under a plan confirmed under section 1129 of the Code,” applies to transfers of assets occurring prior to the actual confirmation of such a…

Source

What Happened At The Supreme Court Oral Argument In The Section 1146(a) Bankruptcy Transfer Tax Exemption Case?

Bob Eisenbach — Fri, 28 Mar 2008 03:46:01 +0000

On Wednesday, March 26, 2008, the United States Supreme Court heard oral argument in the case of Florida Dept. of Revenue v. Piccadilly Cafeterias, Inc. A link to the transcript of the oral argument can be found below. The case presents the following question: With so many asset transfers in Chapter 11 cases taking place through Section 363 asset sales before plan confirmation…

Source

Delaware Bankruptcy Court Adopts New Local Rule For Section 363 Sales

Bob Eisenbach — Tue, 12 Feb 2008 04:53:11 +0000

The Delaware Bankruptcy Court has recently adopted amended Local Rules, which became effective on February 1, 2008, and they include meaningful changes to the procedures governing Section 363 sales of assets. New Local Rule 6004-1, entitled "Sale and Sale Procedures Motions," requires additional disclosure and the highlighting of certain key provisions often seen in sale motions.

Source

Don’t Miss The Important Business Bankruptcy Rule Amendments That Just Took Effect

Bob Eisenbach — Mon, 03 Dec 2007 04:49:20 +0000

On December 1st of almost every year, amendments to the Federal Rules of Bankruptcy Procedure — the ones that govern how bankruptcy cases are managed — take effect to address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Often the changes are relatively minor and of interest only to bankruptcy practitioners, but this year’s set has made…

Source

Have Section 363 Sale Orders Gone Too Far?

Bob Eisenbach — Sun, 05 Aug 2007 21:48:35 +0000

Concerned about the broad-reaching and complex forms of Section 363 asset orders being submitted for approval, this past week the U.S. Bankruptcy Court for the Northern District of California issued a set of "Guidelines re Sale Orders" as well as a form of "Model Sale Order." (Each document is available by clicking on its respective title in the prior sentence.) The Bankruptcy Court’s opening…

Source