HHR Bankruptcy Report

Category Archives: First Circuit

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First Circuit Provides Clarity to Puerto Rico Creditors Seeking Relief

Posted in First Circuit, PROMESA, Puerto Rico
The First Circuit’s recent opinion on the Puerto Rico Oversight, Management, and Economic Stability Act (“PROMESA”, 48 U.S.C §§ 2101-2241) outlines initial guidelines for possible future actions against the Puerto Rican government as a result of the Commonwealth’s ongoing debt crisis. Peaje Investments LLC v. García–Padilla, 845 F.3d 505 (1st Cir. 2017).  Congress enacted PROMESA… Continue Reading

What Constitutes Fraud in Bankruptcy? SCOTUS To Resolve First And Fifth Circuit Split In 2016

Posted in Fifth Circuit, First Circuit, Fraudulent Transfer, SCOTUS
Earlier this month the Supreme Court granted certiorari to hear the Fifth Circuit case Husky International Electronics, Inc. v. Ritz, which originated in the United States Bankruptcy Court for the Southern District of Texas. The Fifth Circuit’s decision interprets “actual fraud” in the context of an exception to a debtor’s discharge that would require a… Continue Reading

The First Circuit Chooses a “Flexible” Approach to Post-Petition Interest

Posted in Bankruptcy Claims, First Circuit, Valuation
In a recent decision, the First Circuit used a “flexible” approach to value the collateral claimed by an oversecured creditor, and granted post-petition interest on the creditor’s claim.  In re SW Boston Hotel Venture, LLC, No. 12-9008, 2014 WL 1399418, — F.3d — (1st Cir. Apr. 11, 2014).  Oversecured creditors (i.e., creditors whose collateral is… Continue Reading