The U.S. trustee has objected to Kodak’s plan to pay $13.5 million in bonuses to persuade certain employees to stay with the company as it reorganizes under bankruptcy protection. The trustee is an arm of the Justice Department charged with monitoring corporate bankruptcy cases. In a U.S. Bankruptcy Court filing Monday, the trustee says Kodak [...]
U.S. Court of Appeals for the Second Circuit Bankruptcy Trustee Fiduciary Obligation Smith v. Silverman 10-1565-bk(L) Judges Winter, Walker and Cabranes Background: The appellant debtor sought to reopen his Chapter 7 bankruptcy case for the purpose of pursuing an adversary proceeding against Kenneth P. Silverman who was the trustee for the debtor’s estate, and Liberty [...]
A U.S. Supreme Court decision that went against a debtor earlier this month actually may prove to be a boon for future consumer debtors.
A bankruptcy trustee could seek to recover the amount by which a debtor undervalued personal property when she declared it exempt in her Chapter 7 case, the U.S. Supreme Court has ruled in a 6-3 decision.