The Official Committee of Unsecured Creditors of Delta Air Lines Inc and its affiliated debtors and debtors-in-possession
has confirmed that it will support the standalone plan of reorganisation as finally agreed upon between Delta and the Creditors' Committee that will be filed later this week.
JUDGE CLARK: I think debtors-in-possession
and trustees have a tendency to overreach because they're so desperate to get vendor financing during the course of the bankruptcy case.
SAExploration Holdings announced that the United States Bankruptcy Court for the Southern District of Texas, Houston Division, entered an order approving the previously announced Asset Purchase Agreement, dated June 26, 2018, between its wholly owned subsidiary, SAExploration, and Geokinetics, and certain of its subsidiaries, debtors and debtors-in-possession
, pursuant to which the company will acquire certain of GEOK's assets.
Some bankruptcy trustees and debtors-in-possession
have used fancy footwork to extend the 90-day preference period a few extra days, either by counting backward from the date of the bankruptcy filing or counting forward from the date of the payment.
sometimes think they control their destiny and that creditors will accede to their every demand or whim.
* Indiscriminate review by trustees, debtors-in-possession
and creditors' committees of check registers of debtors to bring preference actions, with no responsible review of potential defenses.
These decisions should force many or most bankruptcy courts to enforce the two-year rule against debtors-in-possession