On October 14, 2015, Affirmative Insurance Holdings, Inc. and 7 affiliates filed for relief under chapter 11 of the Bankruptcy Code. The cases are jointly administered under Case Number 15-12136 and presided over by Judge Christopher S. Sontchi. The first day hearing was held on October 19, 2015. The second day hearing is scheduled for
NOLs – A Recoverable Transfer?
By Fox Rothschild LLP on
Posted in Opinions
In a 27 page opinion released October 23, 2014 in the Conex Holdings case (Bank. D. Del. 11-10501), Judge Sontchi of the Delaware Bankruptcy Court provided his analysis of the ability of a debtor to recover the value of NOLs used by its parent within consolidated tax returns. This ruling has implications for any debtor…