Finance & Banking Bankruptcy Personal Injury

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Inadvertence May Be Unavailing, Says the Fifth Circuit on Judicial Estoppel

The Fifth Circuit became the second United States Court of Appeals to establish a three prong test for determining whether a bankrupt debtor should be judicially estopped from pursuing a cause of action that she failed to...more

Supreme Court Declines to Consider Madoff Appeal

On Monday, the U.S. Supreme Court refused to take up an appeal brought by Irving Picard, the court-appointed bankruptcy trustee charged with recovering assets on behalf of Madoff’s bankruptcy estate and distributing them to...more

Third Circuit Concludes Personal Injury Causes of Action Against a Successor to Debtor’s Business are Generalized Claims

In a novel decision, the United States Court of Appeals for the Third Circuit held, in its ruling In re Emoral, Inc., 740 F.3d 875 (3d Cir. 2014), that personal injury claims of individuals allegedly harmed by a bankrupt...more

Buyer Beware: 363 Sale May Not Absolve Successor Liability

It has long been understood by buyers of assets of distressed companies that once a sale is authorized pursuant to Section 363 of the Bankruptcy Code, the buyer is absolved of any liabilities which may have encumbered the...more

Reversal of Decision In Bayou Group Bankruptcy Offers Little Guidance For The Institutional Investor Wishing To Redeem From A...

In a partial reversal of a decision from Bayou Group LLC's bankruptcy case, the U.S. District Court for the Southern District of New York reconsidered a controversial ruling that sent shivers down the spines of institutional...more

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