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I Really Can’t Stay: Supreme Court Clarifies Scope of Bankruptcy Automatic Stay

The United States Supreme Court has issued an opinion that clarifies the extent to which the automatic stay imposes obligations on creditors that seized their debtor’s property pre-petition and resolves a broad split among the circuit courts. The decision, City of Chicago v. Fulton, provides protection for creditors but adds to the burdens faced by…

Client Alerts | January 20, 2021 | Creditors’ Rights and Bankruptcy Litigation

Kleinberg Kaplan Partners Matthew Gold, Dov Kleiner and Marc Rosen Published in Westlaw Today

A recent client alert written by Kleinberg Kaplan partners Matthew Gold, Dov Kleiner and Marc Rosen was republished by Westlaw Today. The article, “The Trustee Strikes Back: Greektown Decision May Limit Safe Harbor Defenses,” discusses an interesting new decision by a Michigan bankruptcy court in the ongoing battle over clawback actions. The article was included…

Attorney Articles | January 19, 2021 | Creditors’ Rights and Bankruptcy Litigation

Kleinberg Kaplan Ranks Among Top Legal Advisors Both Globally and in the United States for Activist Campaigns in 2020 According to Bloomberg

Kleinberg Kaplan, a pure-play activist law firm, was again featured as a top legal advisor for activist campaigns in Bloomberg’s 2020 Global Activism Market Review. The firm ranked fourth for legal counsel advising activist investors in the United States and fifth globally for the same, according to Bloomberg. The Bloomberg Activism Advisory League Tables represent…

FEATURED PUBLICATION | January 5, 2021 | Investor Activism

Kleinberg Kaplan Promotes Joshua Guttman to Partner

Premier boutique law firm Kleinberg Kaplan announces the promotion of Joshua Guttman to partner effective January 1, 2021. Since 1971, New York-based Kleinberg Kaplan has been a leader in advising hedge and private equity funds, sophisticated business ventures, prominent real estate operators, and family offices. “I am pleased to announce the promotion of Josh Guttman to partner,”…

FEATURED PUBLICATION | January 4, 2021 | Hedge Funds | Private Equity Funds | Investment Management

BAM! Madoff Defendants Socked with Substantial Prejudgment Interest

A recent decision from a New York bankruptcy court provides guidance on how federal courts may approach requests for prejudgment interest in fraudulent conveyance cases. The decision, Picard v. BAM LP, highlights a risk faced by defendants in litigation of lengthy duration and provides practical guidance on how federal judges may exercise their discretion regarding…

Client Alerts | January 4, 2021 | Creditors’ Rights and Bankruptcy Litigation

Kleinberg Kaplan Partner Philip S. Gross Featured in Hedge Fund Law Report’s “2020 Year-End Tax-Planning Considerations for Fund Managers”

Philip S. Gross, partner and chair of Kleinberg Kaplan’s Tax Department, is featured in Hedge Fund Law Report’s article “2020 Year-End Tax-Planning Considerations for Fund Managers.” In the in-depth Q&A, Phil details year-end tax-planning issues for both the principals of hedge fund managers and their funds, including any special considerations for 2020 due to the COVID-19…

Firm News | December 10, 2020 | Hedge Funds | High Net Worth Individual Planning

Not Just the Usual Suspects: Court of Appeals Allows Lender’s Suit Against Parties that Financed Hostile Bankruptcy

A recent decision by the New York Court of Appeals adds teeth to the ability of real estate lenders to dissuade borrowers from filing bankruptcy and highlights the risks faced by borrowers that choose bankruptcy – and those that assist them. The decision, Sutton 58 Associates LLC v. Pilevsky, permits a lender to pursue a…

Client Alerts | December 10, 2020 | Creditors’ Rights and Bankruptcy Litigation | Real Estate Litigation | Financing

The Trustee Strikes Back: Greektown Decision May Limit Safe Harbor Defenses

A recent decision from a Michigan bankruptcy court shows potential limits to Safe Harbor defenses to clawback actions and may provide new hope to trustees and other clawback plaintiffs that seek to push back against defendant-friendly decisions in the Second Circuit. The decision, In re Greektown Holdings, LLC, highlights the importance of appropriately and carefully…

Client Alerts | December 8, 2020 | Creditors’ Rights and Bankruptcy Litigation

IBOR Transition – IBA Announces Plan For Key USD LIBOR Tenors Beyond 2021

The ICE Benchmark Administration (“IBA”) announced earlier this week that it will consult on its intention to extend publication of the overnight and one-, three-, six-, and 12-month USD LIBOR rates until June 30, 2023. The June 2023 extension, however, applies only to legacy contracts—no new USD LIBOR contracts will be permitted after 2021.1 The…

Client Alerts | December 3, 2020 | Commercial and Corporate Litigation | Derivatives | Hedge Funds | Risk Management