Far-reaching changes: the future expansion of personal jurisdiction over foreign defendants under the Federal Rules of Bankruptcy Procedure

Article Abstract:

The revised Federal Rules of Civil Procedure 4(e) resolves inconsistencies concerning personal jurisdiction of federally created causes of action over foreign persons. However, the Federal Rules of Bankruptcy Procedure 7004(g) was added to retain the old, flawed rules until the Bankruptcy Code can be amended to reflect the changes in Rule 4(e). This means that bankruptcy courts will continue to have limited jurisdiction over foreign defendants until Dec 1996 at the earliest, when the courts will finally be able to consolidate all of a defendants' litigations and assets.

International aspects, Personal jurisdiction

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Stock repurchase agreements in bankruptcy: a tale of state law rights discarded

Article Abstract:

State law rights are being violated in bankruptcy handlings of stock repurchase agreements, and this is illustrated by New York and Delaware law. The courts are not treating repurchase notes as importantly as states' laws do. In re SPM Manufacturing Corp. exemplifies a bankruptcy court's relegation of repurchase notes to inferior creditor status. In re Stern-Slegman-Prins Co., in contrast, exemplifies a court's upholding repurchase notes' status.

Analysis, Cases, State rights, Delaware, Stock redemption, New York (State)

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