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Appeals Chapter 11 Bankruptcy Court

King & Spalding

New York Bankruptcy Court Grants Loan Buyer's Motion for Full Recovery of $5 Million Supersedeas Appeal Bond

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On June 12, 2024, the U.S. Bankruptcy Court for the Southern District of New York granted a loan buyer’s motion to recover against a supersedeas appeal bond, finding that, as result of the appeal, the loan buyer suffered...more

Rosenberg Martin Greenberg LLP

Timing May Be Everything When Employing Bankruptcy Professionals

When Byron David filed a Chapter 7 bankruptcy case in July of 2018, Donald King was appointed Chapter 7 trustee. King filed an application to retain a law firm as his counsel. The bankruptcy court granted that application....more

Tyson & Mendes LLP

A Seat at the Table: Supreme Court Rules Insurers Have a Right to Be “Heard on Any Issue” in Chapter 11 Cases

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On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al. The Court held an insurer with financial responsibility for claims in bankruptcy...more

Snell & Wilmer

SCOTUS Decides Against Sacklers’ Release in Purdue Pharma

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On June 27, 2024, the U.S. Supreme Court issued its much-anticipated decision in Harrington v. Purdue Pharma L.P. The issue before the Court was whether the Bankruptcy Code permits nondebtors to obtain a release of...more

Ward and Smith, P.A.

Should I Care About the Purdue Pharma Decision?

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On June 27, 2024, the United States Supreme Court decided the Purdue Pharma appeal. In a five-to-four decision, the Supreme Court held that a bankruptcy court may not extend to non-debtors the benefits of a Chapter 11...more

Lowenstein Sandler LLP

Purdue Pharma: Supreme Court Prohibits Non-Consensual Third-Party Releases; Ruling Will Reshape Bankruptcy Practice

In a landmark 5-4 decision in Harrington v. Purdue Pharma that will significantly reshape corporate bankruptcy practice, the U.S. Supreme Court resolved a circuit split regarding the authority of a bankruptcy court to approve...more

Mintz - Bankruptcy & Restructuring Viewpoints

FTX: Forcing The Examiner Mandate in the Third Circuit

It is a rare occasion that one can be assured with certainty that, if they file a motion with a bankruptcy court, it will be granted. But, in the Third Circuit, that is exactly what will happen if a creditor or other party in...more

Pillsbury Winthrop Shaw Pittman LLP

When Does an Alter Ego Suit Alleging Debtor and Non-Debtor Are “One and the Same” Violate the Discharge Injunction?

The Ninth Circuit Bankruptcy Appellate Panel holds that a discharge injunction does not bar an alter ego claim against a non-debtor where, under applicable law, the result of an alter ego finding is not to deem the entities...more

DarrowEverett LLP

Release Me? Supreme Court to Resolve Contentious Bankruptcy Issue

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In March 2022, we discussed the decision by the Southern District of New York (the “District Court”) overturning the U.S. Bankruptcy Court for the Southern District of New York’s (the “Bankruptcy Court”) confirmation of...more

Troutman Pepper

Who Is a Secured Creditor and What's the Difference Between a Secured Creditor and an Unsecured Creditor? - Creditor’s Rights...

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Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy. A secured creditor is a creditor whose claim is supported by a...more

Dechert LLP

Are Lockbox Lenders Subject to Implied Duties?

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Recently, in In re Moon Group Inc., a bankruptcy court said no, but the district court, which has agreed to review the decision on an interlocutory appeal, seems far less sure. The bankruptcy court held that a lockbox...more

Holland & Hart LLP

Georgia-Pacific Ruling Furthers Texas Two-Step Challenges

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The U.S. Court of Appeals for the Fourth Circuit recently approved injunctive relief as part of a strategy for settling mass tort claims through the Chapter 11 bankruptcy case of Bestwall LLC, an entity created by...more

Seward & Kissel LLP

Bestwall Bossa Nova, Core Strategy, Auction Over(stock), and Vice Price

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Georgia-Pacific may maintain bankruptcy pause on lawsuits, court rules | Reuters - The 4th U.S. Circuit Court of Appeals recently ruled to extend Georgia-Pacific’s protection against lawsuits while its subsidiary...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Lac du Flambeau Band of Lake Superior Chippewa Indians et al. v. Coughlin

On June 15, 2023, the U.S. Supreme Court decided Lac du Flambeau Band of Lake Superior Chippewa Indians et al. v. Coughlin, No. 22-227, holding that the Bankruptcy Code unambiguously abrogates the sovereign immunity of all...more

Sheppard Mullin Richter & Hampton LLP

Supreme Court Finds Bankruptcy Code Abrogates Tribal Sovereign Immunity

The U.S. Supreme Court ruled on Thursday that because Indian tribes are indisputably governments, the Bankruptcy Code unmistakably abrogates their sovereign immunity to bankruptcy court proceedings....more

McDermott Will & Emery

Second Circuit Assesses Propriety of Third-Party Releases in Purdue

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On May 30, 2023, the US Court of Appeals for the Second Circuit released its long-awaited opinion addressing Purdue Pharma’s confirmed chapter 11 bankruptcy plan. Although the appeal challenged more than one aspect of the...more

Jenner & Block

April 2023 - Recent Developments in Bankruptcy Law

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AUTOMATIC STAY - 1.1 Covered Activities 1.1.a Court denies injunction against actions involving debtors’ affiliates. Shortly after filing their chapter 11 cases, the debtors in possession sought, in the alternative,...more

Patterson Belknap Webb & Tyler LLP

Despite Discretionary Standard, Courts Still Must Show Their Work

Although in the Ninth Circuit the decision to revisit an order under FRCP 60 is “highly discretionary,” judges still must explicitly grapple with the relevant factors. That was the clear message sent by Judge Haywood Gilliam...more

White and Williams LLP

Second Circuit: Not a Party to an Assumed Unexpired Lease? No Cure Claim for You!

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On April 10, 2023, the United States Court of Appeals for the Second Circuit (the “Court”) held that a non-party to an unexpired lease assumed by a debtor in bankruptcy was not entitled to assert a “cure claim” under section...more

Pillsbury Winthrop Shaw Pittman LLP

Court of Appeals Finds That Insurers May Not Participate in Bankruptcy Negotiations by Invoking an Insured’s Duty to Cooperate

In rejecting an insurer’s attempt to block confirmation of its insured’s bankruptcy plan, the Fourth Circuit found that an insurer may not interject itself into plan negotiations by invoking the duty to cooperate, nor does...more

Bracewell LLP

Lightning Round: LTL Management Files “Chapter 22” Case Immediately Following Bankruptcy Court’s Dismissal of its Prior Bankruptcy

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Just hours after the United States Bankruptcy Court for the District of New Jersey entered an order dismissing the Chapter 11 Case of Johnson & Johnson subsidiary, LTL Management, as a bad faith filing, LTL filed for Chapter...more

Bracewell LLP

Texas "Two-Step" Forward, Three Steps Back for Mass Tort Debtors in the Third Circuit After LTL

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In a decision that may provide much-needed boundaries around the permissibility of debtors created from “out-of-the-box” prepetition corporate transactions, on January 30, 2023, the United States Court of Appeals for the...more

Maron Marvel

3rd Circuit Rejects Johnson & Johnson’s Effort To Set Up Subsidiary In Bankruptcy Court To Resolve Talc Asbestos Claims

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On January 30, 2023, the Third Circuit dismissed Johnson & Johnson (J&J)’s subsidiary LTL’s Chapter 11 bankruptcy petition because the facts did not support the financial distress required for the entity’s good faith filing...more

Bracewell LLP

"Fatal Means Fatal": 5th Circuit's Broad Read of 363(m) Continues to Moot Section 363 Appeals after the Sale

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Recent rulings out of the United States Court of Appeals for the Fifth Circuit and its lower bankruptcy courts have emphasized the circuit’s broad interpretation of section 363(m) of the Bankruptcy Code, which protects...more

King & Spalding

Seventh Circuit Explains Personal Jurisdiction Rules for Bankruptcy Cases

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On September 7, 2022, the U.S. Court of Appeals for the Seventh Circuit affirmed dismissal of a chapter 11 debtor’s adversary proceeding to enforce the automatic stay against Irish creditors seeking to sell the debtor’s...more

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