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Fox Rothschild LLP

The Impact of Purdue Pharma

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It has been approximately two months since the highly anticipated Supreme Court decision in Harrington v. Purdue Pharma L.P., and it is already making a significant impact in bankruptcies around the country. In September...more

Jones Day

U.S. Supreme Court Bankruptcy Update

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The U.S. Supreme Court handed down three bankruptcy rulings to finish the Term ended in July 2024. The decisions address the validity of nonconsensual third-party releases in chapter 11 plans, the standing of insurance...more

Mayer Brown

I Shall (Not) Be Released: With Purdue Pharma Decision, US Supreme Court Remakes Chapter 11 Landscape

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They say every man needs protection, they say that every man must fall. For over 40 years, “the bankruptcy community has recognized the resolution of mass tort claims as a widely accepted core function of bankruptcy courts,”...more

Epstein Becker & Green

A Day for Specialists - SCOTUS Today

Another Three-for Thursday at the Supreme Court, with none of the decisions a landmark but each of utmost relevance to legal specialists and technicians in the fields of bankruptcy, estate taxation, and Indian affairs....more

Jones Day

Business Restructuring Review July-August 2023 | Vol. 22 No. 4

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There is longstanding controversy concerning the validity of third-party release provisions in non-asbestos trust chapter 11 plans that limit the potential exposure of various nondebtor parties involved in the process of...more

Nelson Mullins Riley & Scarborough LLP

Supreme Court to Decide Constitutionality of U.S. Trustee Fees in Chapter 11 Cases

The Supreme Court of the United States granted certiorari on Jan. 10, 2022 in a case arising out of the Circuit City bankruptcy regarding certain additional fees imposed on large Chapter 11 debtors. Most Chapter 11 debtors...more

Jones Day

From the Top in Brief: U.S. Supreme Court Bankruptcy Roundup

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Appointment of PROMESA Financial Oversight Board Was Constitutional - In Financial Oversight and Management Board for Puerto Rico v. Aurelius Investment, LLC, No. 18-1334, 590 U.S. ___ (June 1, 2020), the Supreme Court...more

Skadden, Arps, Slate, Meagher & Flom LLP

Supreme Court Validates PR Financial Oversight Board, but Challenges Remain

Since PROMESA was enacted in 2016 to pave the way for a comprehensive restructuring of Puerto Rico’s mounting municipal debt obligations, the U.S. District Court for the District of Puerto Rico (District Court) has become a...more

Kramer Levin Naftalis & Frankel LLP

US Supreme Court Gives the Final Word: Denial of Lift Stay Motions Are Final and Immediately Appealable

The Bottom Line - The United States Supreme Court recently issued a unanimous decision in Ritzen Group, Inc. v. Jackson Masonry, LLC, No. 19-938 589 U.S. __ (2020), which held that a bankruptcy court’s unreserved denial...more

A&O Shearman

The Final Stay: Supreme Court Holds that Any Bankruptcy Court Order Denying Relief from the Automatic Stay Constitutes a Final,...

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On January 14, 2020, the Supreme Court of the United States issued a decision resolving the question of whether a motion for relief from the automatic stay constitutes a discrete dispute within the bankruptcy that creates a...more

Skadden, Arps, Slate, Meagher & Flom LLP

Skadden's 2020 Insights

Despite political and economic uncertainties, markets and deal activity were resilient in 2019, and strong fundamentals remain in place heading into 2020. Companies continue to face a challenging litigation and enforcement...more

Jones Day

U.S. Supreme Court: Creditors May Immediately Appeal Denials of Automatic-Stay Relief

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The Situation. In Ritzen Group, Inc. v. Jackson Masonry, LLC, the U.S. Supreme Court considered whether bankruptcy court orders conclusively denying relief from the Bankruptcy Code's automatic stay are immediately appealable....more

Dechert LLP

The U.S. Supreme Court Holds that Orders Granting or Denying Lift Stay Motions are Final

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The consequences of an order or judgement being final or interlocutory are enormous. An order from an interlocutory order requires leave since these orders are not appealable as of right. In addition, a failure to obtain...more

Mayer Brown

Bankruptcy trustee appeals Seventh Circuit’s ruling on sufficiency of UCC collateral description to US Supreme Court

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Last October we highlighted an important ruling issued in September 2019 by the Seventh Circuit in the bankruptcy proceeding of In re I80 Equipment, LLC. The Circuit Court in that case reversed a decision from the lower...more

Bradley Arant Boult Cummings LLP

Supreme Court Holds That an Order on a Motion for Relief from Stay Is a Final, Appealable Order

In a unanimous opinion released last week, the Supreme Court provided guidance as to how to determine the finality of an order in a bankruptcy case for purposes of an appeal under 28 U.S.C. § 158(a). The Court held that the...more

Foley & Lardner LLP

More Clarity on What Constitutes a Final, Appealable Order in Bankruptcy After Ritzen Group Inc. v. Jackson Masonry, LLC

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On January 14, 2020, the Supreme Court of the United States issued an opinion clarifying what constitutes a final order for purposes of bankruptcy appeal. The Ritzen decision comes a few years after the Supreme Court in...more

Ward and Smith, P.A.

Supreme Court Rules "Now or Never" to Appeal Stay Relief Denials

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Under the Bankruptcy Code, filing a bankruptcy petition automatically halts efforts to collect pre-petition debts from the debtor outside of bankruptcy. This is the "automatic stay," and it is a command, not a suggestion....more

Fox Rothschild LLP

U.S. Supreme Court Confirms That Stay Relief Orders Must Be Appealed Right Away

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Earlier this week, the United States Supreme Court issued an opinion regarding appeals of orders denying relief from the automatic stay. Generally, the automatic stay (section 362 of the Bankruptcy Code) prevents creditors...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Decides Ritzen Group, Inc. v. Jackson Masonry, LLC

On January 14, 2020, the Supreme Court of the United States decided Ritzen Group, Inc. v. Jackson Masonry, LLC, No. 18-938, holding that an order unreservedly ruling on a creditor’s motion for relief from bankruptcy’s...more

Tucker Arensberg, P.C.

The Fourteen-Day Time to Appeal Applies to Orders Enforcing the Automatic Stay

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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

Jones Day

Tribune District Court Rules That LBO Payments May Not Be Avoided Because Debtor Was "Customer" of "Financial Institution"

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In In re Tribune Co. Fraudulent Conveyance Litig., 2019 WL 1771786 (S.D.N.Y. Apr. 23, 2019), the U.S. District Court for the Southern District of New York denied a litigation trustee’s motion to amend a complaint seeking to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Bankruptcy Code’s Safe Harbor Defense Eliminated by Supreme Court; Variant Defense May Survive

In a unanimous decision in Merit Mgmt. Grp., LP v. FTI Consulting, Inc., the U.S. Supreme Court addressed the scope of a Bankruptcy Code exception to the “avoiding powers” of a bankruptcy trustee or Chapter 11...more

Dechert LLP

Resolving Circuit Split, US Supreme Court Holds Section 546(e) Safe Harbor Applies Only to Protected Parties

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The Bankruptcy Code allows trustees, as well as debtors-in-possession and in some circumstances creditors’ committees, to set aside and recover certain transfers for the benefit of the bankruptcy estate. The purpose of the...more

Jones Day

From the Top: U.S. Supreme Court to Hear Case on Scope of Section 546(e)'s Safe Harbor

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On May 1, 2017, the U.S. Supreme Court agreed to hear Merit Management Group v. FTI Consulting, No. 16-784, on appeal from the U.S. Court of Appeals from the Seventh Circuit. See FTI Consulting, Inc. v. Merit Management...more

Orrick, Herrington & Sutcliffe LLP

Distressed Download

Lessons from Sabine - In March, Bankruptcy Judge Shelley Chapman held that Sabine Oil & Gas Corp. satisfied the standards for rejection of several gathering and handling agreements between Sabine and its midstream...more

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