A recent order from the United States Bankruptcy Court for the Southern District of New York puts to test the theory that “it is better to ask for forgiveness than permission.” After a lengthy dispute in the bankruptcy cases of Arcapita Bank B.S.C.(c) and its affiliates (the “Debtors”), the court held Bahrain Islamic Bank (“BisB”) … Continue Reading
In a prior post, we explored the risks of utilizing an involuntary bankruptcy petition as a litigation tactic. That post examined a July 2015 decision from the Second Circuit Court of Appeals in the TPG Troy LLC bankruptcy case, in which the court held that when an involuntary bankruptcy petition is dismissed there is a … Continue Reading
