Now that the United States Supreme Court has agreed to expeditiously hear the U.S. Trustee’s appeal of the plan confirmation and settlement in Purdue Pharma, lawyers following the LTL Management LLC bankruptcy case, version...more
8/16/2023
/ Appeals ,
Asbestos ,
Bankruptcy Plans ,
Business Assets ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Liability ,
Johnson & Johnson ,
Mass Tort Litigation ,
Opioid ,
Personal Liability ,
Popular ,
Purdue Pharma ,
Release of Claims ,
Subsidiaries ,
Trustees
Here we go again. Precisely one hour and thirty-nine minutes after the dismissal of the bankruptcy filing of LTL, Johnson & Johnson’s artificially created talc-liability subsidiary, the company was right back at it again with...more
4/13/2023
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Financial Distress ,
Fraudulent Transfers ,
Good Faith ,
Holding Companies ,
Johnson & Johnson ,
Settlement ,
Subject Matter Jurisdiction ,
Subsidiaries
Hot off the presses today, in a case that bankruptcy practitioners have been watching since it was filed in October of 2021, a panel of the Court of Appeals for the Third Circuit announced an opinion dismissing the bankruptcy...more
A subcommittee of the Senate Judiciary Committee heard from bankruptcy experts and those affected directly by mass tort Chapter 11 cases about their concerns over the corporate machinations that allow some large corporations...more
On January 3, 2021, in In re Ditech Holding Corporation, Case No. 19-10412 (JLG), an unpublished opinion, Bankruptcy Judge James L. Garrity, Jr., discussed an important distinction for creditors of a non-individual chapter 11...more
Here’s an interesting read: LaTasha Tennial v. REI Nation, LLC, No. 20-5358, — F.3d —-, 2020 WL 6304352 (6th Cir. Oct. 28, 2020).
After a lengthy analysis of prior cases, all of which held that Bankruptcy Rule...more
In an unpublished opinion, Bander v. Isaacson, 2020 WL 1744539 (9th Cir. Apr. 8, 2020), the Court of Appeals for the Ninth Circuit addressed whether the Bankruptcy and District Courts had properly required potential litigants...more
Troubled times. Unanticipated business closures. Working from home – who knew it would start so fast and last so long. How long it will last? Will my business survive? What’s next?...more
3/27/2020
On March 25, 2020, the U.S. Senate passed the historic $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (“CARES Act”). The U.S. House is expected to pass the bill on Friday March 27, 2020, and it is anticipated...more
Today, the United States Supreme Court issued an opinion of interest to every debtor and creditor in a bankruptcy case as the decision involves the automatic stay. The appeal involved a bankruptcy court’s order that enforced...more
1/14/2020
/ Appeals ,
Automatic Stay ,
Bankruptcy Court ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Dismissals ,
Federal Rules of Bankruptcy Procedure ,
Motion for Relief from Automatic Stay ,
Reaffirmation ,
Right To Appeal ,
Ritzen Group Inc v Jackson Masonry LLC ,
SCOTUS ,
Time-Barred Claims
The Court of Appeals for the Third Circuit (Ambro, J.) issued an opinion that may have consequences far beyond the circumstances involved in the case. The underlying dispute was a breach of contract claim which the parties...more
On August 23, 2019, the President of the United States of America signed three new bankruptcy amendments into law. The first bill, H.R. 3311, ratifies The Small Business Reorganization Act of 2019, creating a new option for...more
9/5/2019
/ Amended Legislation ,
Bankruptcy Code ,
Bankruptcy Preferences ,
Chapter 11 ,
Chapter 12 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Due Diligence ,
Farms ,
Reorganizations ,
Small Business ,
Veterans
A case of interest to those who sell or purchase property in bankruptcy was handed down a few days ago. In Trinity 83 Development LLC v. ColFin Midwest Funding LLC, 2019 WL 987902 (7th Cir. March 1, 2019), the Court of...more
The United States Court of Appeals for the Third Circuit issued its opinion in Rotkiske v. Klemm, a unanimous, en banc decision yesterday that creates a clear split with the Fourth and Ninth Circuits. The Third Circuit ruled...more
In an opinion that is informative although not precedential, In re AE Liquidation, Inc., No. 17-1794 (May 4, 2018), the Court of Appeals for the Third Circuit considered both the ordinary course and the new value defenses to...more
In case you are curious about the extent of animal rights under the law, take a look at this new decision in the Ninth Circuit, Naruto v. Slater, 2018 WL 1902414 (9th Cir. Apr. 23, 2018). Naruto, an Indonesian macaque, picked...more
Once in a while, a Supreme Court opinion crosses my desk that I cannot ignore. Such was the case today. The United States Supreme Court issued its opinion in MERIT MANAGEMENT GROUP, LP v. FTI CONSULTING, INC., a unanimous...more
3/2/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Financial Institutions ,
Fraudulent Transfers ,
Intermediaries ,
Merit Management Group v FTI Consulting ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Split of Authority
In re Sunnyslope Hous. Ltd. P’ship, 859 F.3d 637 (9th Cir. 2017), as amended (June 23, 2017)(“Sunnyslope”), is a noteworthy case for secured lenders. The case involves confirmation of the cram down plan proposed by Sunnyslope...more
Mortgage insurance can be an expensive proposition for homeowners at the same time that it provides assurance to lenders. Whether the term of paying insurance premiums can be extended as the result of a mortgage modification...more
You’ve decided that your business will fare better if you put a mandatory arbitration clause into all of your contracts. You want to be fair to your counterparty, so you choose to arbitrate under the Federal Arbitration Act....more
Parties to a legal dispute often bemoan the costs. The expense of hiring a lawyer, the business disruption caused by management’s focus on the legal problem at hand, the time away from work spent by employees who have to...more
In a per curiam opinion that is not precedential but of interest to lenders who take mortgages as security, the Court of Appeals for the Third Circuit decided that the Debtor’s effort to reopen her bankruptcy case was too...more
The United States Court of Appeals for the Second Circuit issued an opinion on October 30, 2015, that should be of interest to everyone who files pleadings electronically. In Luther Franklin v. John McHugh, Docket No....more
Frank Arenas is licensed in Colorado to grow and dispense medical marijuana. He and his wife own a building, half of which is used for the cultivation and the other half of which is leased to a marijuana dispensary. These...more
8/27/2015
/ Appeals ,
Bank Secrecy Act ,
Chapter 13 Conversions ,
Chapter 7 ,
Commercial Real Estate Contracts ,
Commercial Tenants ,
Controlled Substances Act ,
Criminal Proceeds ,
Debtors ,
Dispensaries ,
Eric Holder ,
Financial Institutions ,
FinCEN ,
Lenders ,
Marijuana ,
Medical Marijuana ,
Motion to Dismiss ,
New Guidance ,
Tenants ,
Trustees ,
U.S. Treasury