- 15 - the above holdings. The Court of Appeals held that for the procedural purpose of venue, the bankruptcy estate did not terminate at the time of confirmation. In re Emerson Radio Corp., 52 F.3d 50, 54 (3d Cir. 1995). In In re Emerson, the court considered whether to transfer venue in a chapter 11 bankruptcy proceeding under bankruptcy rule 1014(b). That rule provides procedures for when petitions of related debtors are filed in different bankruptcy courts. Bankruptcy rule 1014(b), in pertinent part, provides: “If petitions commencing cases under the Code are filed in different districts * * * the court may determine, in the interest of justice or for the convenience of the parties, the district or districts in which the case or cases should proceed. * * * ” [In re Emerson Radio Corp., supra at 53.] In In re Emerson, one party argued that the bankrupt was no longer a “debtor” for purposes of bankruptcy rule 1014(b) because its bankruptcy estate terminated upon confirmation of the reorganization plan. The Court of Appeals for the Third Circuit rejected that argument and held that for purposes of bankruptcy rule 1014(b), the debtor’s status was not ended at the time of confirmation of its plan of reorganization. In holding that the venue rules apply until such time as the bankruptcy proceeding is closed, the court in In re Emerson focused on the need of the bankruptcy parties to “know with a fair degree of certainty the court which can entertain an application”, and that “Applying Rule 1014(b) and section 350 [ofPage: Previous 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 Next
Last modified: May 25, 2011