Opt-Out Plan Confirmed with Impaired Creditors Almost Unanimous in Support
In the Spirit Airlines reorganization, no creditors with an economic interest had opposed confirmation of a plan with opt-out releases for nondebtors.
Bankruptcy Judge Rejects a District Court’s Narrow View of Sales Free and Clear
New York’s Judge Philip Bentley interpreted Section 363(f)(5) to permit a sale free and clear whenever a creditor could conduct a foreclosure or a UCC sale.
New York Judge Devises a Flexible Remedy to Deal with Repeated Bad Faith Filings
New York’s Judge Philip Bentley and Prof. Robert Lawless urge Congress to adopt the ABI Commission’s recommendations for dealing with bad faith filings.
Texaco’s 1988 Confirmation Didn’t Kill Environmental Suits Decades Later
New York’s Bankruptcy Judge David Jones reopened Texaco’s 1988 bankruptcy to ensure that state courts wouldn’t mistakenly decide that environmental claims were discharged
Purdue Doesn’t Preclude Injunctions from Protecting Nondebtors for the Life of a Plan
New York’s Judge John Mastando saw no reason a Subchapter V plan couldn’t enjoin lawsuits against nondebtors for the life of a five-year plan.
A Foreign Branch of an FDIC-Insured U.S. Bank Remains Ineligible for Chapter 15
The district court affirmed the holding by Bankruptcy Judge Martin Glenn that a foreign branch of a U.S. bank isn’t eligible for chapter 15.
Barton Halted Third Parties from Suing in an Allegedly Better Forum
When third parties sued a trust created by a confirmed chapter 11 plan, Judge Garrity declined to invent any new exceptions to the Barton doctrine.
Sears Landlord Wins Big Supreme Court Appeal But Has Nothing to Show for the Effort
Like she did in Purdue, District Judge Colleen McMahon correctly predicted how the higher court would rule in a big, important case.
Court:
Constitutional and Prudential Standing Survived Truck Insurance, Judge Kinsella Says
Did the notion of ‘prudential standing’ in bankruptcy cases survive Truck Insurance?
Purdue Preliminary Injunction Protecting Nondebtors Upheld on Appeal
The same district judge who correctly predicted that Purdue’s nonconsensual releases were prohibited has nonetheless upheld a preliminary injunction barring suits against nondebtors.