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
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On January 3, 2021, in In re Ditech Holding Corporation, Case No. 19-10412 (JLG), an unpublished opinion, Bankruptcy Judge James L. Garrity, Jr., discussed an important distinction for creditors of a non-individual chapter 11...more
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
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
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
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