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United States bankruptcy court, Southern District of New York
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The United States bankruptcy court, Southern District of New York is the United States bankruptcy court in New York that is associated with the United States District Court for the Southern District of New York.
Judges
| Judge | Appointed By | Assumed Office | Bachelors | Law |
|---|---|---|---|---|
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Georgetown University, 1975 |
Yale Law School, 1978 |
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New York University |
New York University |
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| July 1, 2000 - |
West Texas State University, 1968 |
University of Illinois-Chicago, John Marshall Law School, 1977 |
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U.S. Court of Appeals for the 2nd Circuit |
November 30, 2006 - |
Cornell University, 1968 |
Rutgers Law School, 1971 |
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|
Second Circuit Court of Appeals |
February 17, 2015 - |
College of the Holy Cross |
St. John's University |
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United States Court of Appeals for the 2nd Circuit |
February 19, 2021 - |
Brown University |
Harvard Law School |
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United States Court of Appeals for the 2nd Circuit |
February 26, 2021 - |
University of Chicago |
Boston University School of Law |
About this court
- See also: United States bankruptcy court
The United States bankruptcy courts are a system of federal courts authorized to hear bankruptcy cases. The courts were established in their current form by the Bankruptcy Amendment Act of 1984.
Under the act, federal district courts have original jurisdiction over bankruptcy cases in their districts and are authorized to refer such cases to a bankruptcy court for their district.
As of May 2023, there were 90 federal bankruptcy courts. The Districts of Guam, the Northern Mariana Islands, and the Virgin Islands handle bankruptcy cases directly rather than through a bankruptcy court. The Eastern and Western districts of Arkansas share a single bankruptcy court. All other federal district courts have an associated bankruptcy court.
Judges on federal bankruptcy courts are appointed to 14-year terms by judges of the appeals court with jurisdiction over the district.[1]
Noteworthy cases
| • Bernard Madoff case changes hands in the judiciary (2014) Judge(s):Stuart M. Bernstein (In re Bernard L. Madoff Investment Securities LLC, 08-01789 (SMB)) | Click for summary→ |
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On January 14, 2014, the Southern District of New York began the reassignment of all ongoing cases related to wind-down of assets of Bernard L. Madoff Investment Securities to Judge Stuart M. Bernstein following the unanticipated death of Judge Burton R. Lifland. Bernstein is only the second member of the court to oversee the case, as the late Lifland presided over the Madoff bankruptcy proceedings since their inception in December 2008.[2][3] | |
| • Parent company held liable for bankrupt spinoff's legal liabilities (2013) Judge(s):Allan L. Gropper (Tronox Inc et al v. Kerr McGee Corp et al, 09-10156 (ALG)) | Click for summary→ |
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On December 12, 2013, Judge Allan L. Gropper ruled that Anadarko Petroleum Corp. may be liable for an amount between $5.15 billion and $14.17 billion in environmental cleanup liabilities caused by its bankrupt spinoff company. The Department of Justice believes the ruling is the largest ever of its kind. In the underlying case, Kerr-McGee Corp. spun off its chemicals business in 2005 as Tronox, transferring its environmental claims and liabilities with it at the same time. In 2006, Anadarko acquired Kerr-McGee's oil and gas division and assets, then worth between $16.4 and $18 billion. Beset by environmental debts, Tronox filed for bankruptcy in 2009, and sued Kerr-McKee separately, accusing the company of setting it up to fail under the fraudulent transfer theory of bankruptcy law. According to that theory, the value of transferred assets may be recovered if such transfer was made with the intent to harm creditors. Judge Gropper ruled that Kerr-McKee's spinoff of Tronox was intended to hurt its creditors, specifically those with environmental liabilities, and awarded Tronox the approximate value of Kerr-McGee's oil and gas assets acquired by Anadarko in the form of litigation damages.[4][5][6][7] The case was settled in April 2014 for 5.15 billion dollars.[8] | |
See also
External links
Footnotes
- ↑ Federal Judicial Center, "U.S. Bankruptcy Courts," accessed May 31, 2023
- ↑ Wall Street Journal, "U.S. Bankruptcy Court Judge Burton R. Lifland Dies," January 13, 2014
- ↑ Wall Street Journal, "Madoff Case Is Assigned to Judge Bernstein," January 15, 2014
- ↑ Wall Street Journal, "Judge Says Anadarko May Be Liable in Suit Related to Kerr-McGee Deal," December 12, 2013
- ↑ Businessweek, "Anadarko’s Kerr-McGee Held Liable by Judge Over Tronox Spinoff," December 13, 2013
- ↑ Reuters, "Analysis: Tronox, Anadarko fight over cleanup costs may be just getting started," December 15, 2013
- ↑ New York Times, "Bankruptcy Judge’s Opinion Raises Questions About Kerr-McGee Revamp," December 16, 2013
- ↑ Kirkland & Ellis LLP, "Anadarko Pays $5B to Settle Tronox Enviro Liabilities Row," April 3, 2014
