News & Analysis as of

Chapter 11 Fiduciary Duty Trustees

Whitcomb Selinsky, PC

A Deep Dive into the Trustee's Appellate Journey

Whitcomb Selinsky, PC on

Appellate law played a crucial role in shaping the outcome of this intricate legal battle between bankruptcy trustee John P. Neblett and the suppliers of a technology company. Neblett's claims of civil conspiracy, aiding and...more

Goodwin

Second Circuit Rules that Syndicated Loans Are Not “Securities” Under State and Federal Law

Goodwin on

On August 24, 2023, the U.S. Court of Appeals for the Second Circuit in Kirschner unanimously  held that notes evidencing syndicated loans do not plausibly qualify as “securities” covered by state and federal securities laws...more

Jackson Lewis P.C.

Seventh Circuit Revives State Law Claims Against Executives Acting As “Dual-Hat” Fiduciaries

Jackson Lewis P.C. on

The Seventh Circuit ruled recently that ERISA does not preempt certain state law claims against directors and officers because ERISA’s text and purpose contemplate parallel corporate state-law liability against executives who...more

Cole Schotz

Bankruptcy Court Finds Committee Member To Have Breached Her Fiduciary Duty To Unsecured Creditors

Cole Schotz on

On November 15, 2019, the U.S. Bankruptcy Court for the Central District of California (the “Court”) issued an opinion in the case of Naylor v. Farrell (In re Farrell), Ch. 7 Case No. 14-11729-MW, Adv. No. 16-01123 (Bankr....more

Patterson Belknap Webb & Tyler LLP

Another Ruling on Public Auctions Versus Private Sales Under Section 363

Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more

Jones Day

Focus on Health Care Provider Bankruptcies

Jones Day on

The next few years are expected to see a significant increase in the volume of bankruptcy cases filed by health care providers. Thus far in 2017, the number of bankruptcies in health care-related sectors, including hospitals,...more

Butler Snow LLP

Sixth Circuit’s holding that debtor in possession and liquidating trustee are one in the same for purposes of...

Butler Snow LLP on

The Sixth Circuit Court of Appeals recently took up the controversial issue of whether a liquidating trustee’s lawsuit, alleging breach of fiduciary duty against a corporate debtor’s officers, falls within the...more

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