Georgia Bankruptcy Blog

Georgia Bankruptcy Blog

Tag Archives: Atlanta Chapter 11

In Case of First Impression 11th Circuit Holds Debt of PACA Trustee Not Excepted From Discharge Pursuant to 11 U.S.C. §523(a)(4).

By Scott Riddle Posted in Eleventh Circuit Cases
In a case of first impression in the Eleventh Circuit, the Circuit Panel addressed the dischargeability of debts incurred by a produce buyer who is acting as a trustee under the Perishable Agricultural Commodities Act (“PACA”).  In re Forrest, 2022 WL 3908803 (11th Cir. August 31, 2022)(click here for .pdf).   The court concluded that debts… Continue Reading

In a Case of First Impression, 11th Circuit Rules “New Value” Can Be Both Preference Defense and Administrative Claim

By Scott Riddle Posted in Eleventh Circuit Cases, Northern District Cases
In Auriga Polymers, Inc. v. PMCM2, LLC, as Liquidating Trustee, No. 20-14647, 2022 WL 2800195 (11th Cir. July 17, 2022) (click here for .pdf) the creditor, Auriga, received transfers of more than $2.2 million in the 90 days before the Debtor, Beaulieu Group, LLC, filed its Bankruptcy case on July 16, 2017.  During the 90… Continue Reading

Elite Bankruptcy Consulting Firms Battle It Out With Fraud and RICO Claims Related to Bankruptcy Disclosures and Lost Engagements

By Scott Riddle Posted in Corporate & Fiduciary Litigation, Miscellaneous Cases
In Jay Alix, as assignee of AlixPartners, LLP v. McKinsey & Co., Inc., 2022 WL 163800 (2nd Cir., January 19, 2022) (click here for .pdf), two major competitors in the niche market of Bankruptcy advising to estates with a billion dollars or more of assets were in court against each other over lucrative consulting assignments.… Continue Reading

Why Are Large Chapter 11 Cases Dismissed, Leaving Small Creditors Out of Luck? Judge Bonapfel Explains.

By Scott Riddle Posted in News and Comments, Northern District Cases
“It has been said that, in many bankruptcy cases, there are no good alternatives, only less bad ones. As financial realities in this case took hold, it became clear that, for most creditors, including the objectors, there were not even “less bad” alternatives. The Court is saddened that it can offer only an explanation for… Continue Reading