The Honorable Karen B. Owens, sworn in as a Delaware Bankruptcy Judge on June 17, 2019, recently ruled that the third-party releases contained in Emerge Energy Services LP’s Chapter 11 plan were not consensually granted,...more
1/23/2020
/ Bankruptcy Court ,
Bankruptcy Plans ,
Chapter 11 ,
Commercial Bankruptcy ,
Consent ,
Creditors ,
Equity Financing ,
Meeting of Creditors ,
Opt-Outs ,
Releases ,
Third-Party
In the wake of asbestos bankruptcies brought on by mass tort liabilities, reorganization plan structures, like that in Johns-Mansville, often funneled asbestos-related claims into a settlement trust, while a “channeling...more
11/2/2018
/ Appeals ,
Asbestos ,
Asbestos Litigation ,
Asbestos Trust Claims ,
Bankruptcy Code ,
Commercial Bankruptcy ,
Debt Restructuring ,
Injunctions ,
Insurance Litigation ,
Mass Tort Litigation ,
Remand
On February 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision...more
3/2/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Financial Institutions ,
Fraudulent Transfers ,
Intermediaries ,
Merit Management Group v FTI Consulting ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Split of Authority ,
Trustees
On Feb. 27, 2018, the Supreme Court handed down a unanimous opinion, authored by Justice Sotomayor, resolving a Circuit split over the interpretation of Section 546(e) of the Bankruptcy Code, the “safe harbor” provision that...more
3/2/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debtors ,
Financial Institutions ,
Fraudulent Transfers ,
Intermediaries ,
Merit Management Group v FTI Consulting ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Split of Authority ,
Trustees
The Fifth Circuit, in In the Matter of: ATP Oil & Gas Corp. (Tow v. Bulmahn, et. al.), dismissed breach of fiduciary duty claims and fraudulent transfer claims brought by a chapter 7 trustee relating to cash bonuses and...more
12/1/2017
/ Business Judgment Rule ,
Chapter 11 ,
Chapter 7 ,
Chapter 7 Conversions ,
Commercial Bankruptcy ,
Corporate Officers ,
Directors ,
Dismissals ,
Executive Compensation ,
Fiduciary Duty ,
Fraudulent Transfers