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Appeals Bankruptcy Plans

Pillsbury Winthrop Shaw Pittman LLP

The “Insurance Neutrality” Doctrine is Heading to SCOTUS

The U.S. Supreme Court agreed to hear an appeal of the Fourth Circuit’s decision in Kaiser Gypsum regarding an insurer’s standing to object to a bankruptcy plan under the “insurance neutrality” doctrine. Under the...more

Tucker Arensberg, P.C.

Will the Acceptance of the Appeal in Purdue Pharma by the U.S. Supreme Court Affect Johnson & Johnson?

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Now that the United States Supreme Court has agreed to expeditiously hear the U.S. Trustee’s appeal of the plan confirmation and settlement in Purdue Pharma, lawyers following the LTL Management LLC bankruptcy case, version...more

Nelson Mullins Riley & Scarborough LLP

Buyer Beware: The Risk of Ignoring Known Defects in Title Cannot be Cured by “Free and Clear” Bankruptcy Sale

Envision a scenario in which you purchased a right of first refusal for a parcel of real estate. That right, as bargained for, would let you purchase the parcel if it was put up for sale by matching any competing bidder’s...more

Bracewell LLP

U.S. Supreme Court Denies Review of Challenge to Equitable Mootness Doctrine

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In a decision that will likely impact bankruptcy proceedings around the country, the Supreme Court recently denied the petition for writ of certiorari of David Hargreaves, which challenged the equitable mootness doctrine. As...more

Smith Debnam Narron Drake Saintsing & Myers,...

Eleventh Circuit Refuses to Impose a ‘Least Sophisticated Consumer’ Standard to Discharge Violations

The Eleventh Circuit recently affirmed a Florida bankruptcy court’s denial of plaintiff’s motion for sanctions. In doing so, the Court rejected the consumer’s attempt to import the FDCPA’s “least sophisticated consumer”...more

ArentFox Schiff

In the Third Circuit, an Intercreditor Agreement Means What it Says

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The Plain Meaning Language of an Intercreditor Agreement Determines Whether it Governs Plan Distributions or Adequate Protection Payments - In a recent non-precedential opinion, the United States Court of Appeals for the...more

King & Spalding

Fifth Circuit Denies Post-Petition Default Interest to Fully Secured Creditors

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On June 14, 2019, the U.S. Court of Appeals for the Fifth Circuit issued an opinion affirming bankruptcy and district court decisions finding that, under the terms of the confirmed Chapter 11 bankruptcy plan, the debtor’s...more

King & Spalding

Third Circuit Rules Intercreditor Agreement Doesn't Apply to Plan Distributions

King & Spalding on

On June 19, 2019, the U.S. Court of Appeals for the Third Circuit (the “Court”) issued a decision concerning the distribution of collateral under an intercreditor agreement—finding that adequate protection payments and plan...more

Snell & Wilmer

Is a Bankruptcy Plan that Violates Federal Criminal Law Proposed in Bad Faith?

Snell & Wilmer on

Although legal in many states, marijuana remains illegal under federal criminal law. See 21 U.S.C. § 856(a)(1). One would think that engaging in illegal activity under federal criminal law would preclude relief under federal...more

Kramer Levin Naftalis & Frankel LLP

Fifth Circuit Analyzes Creditor’s Impairment, Entitlements to Contractual Make-Whole and Post-Petition Interest Under...

A three-judge panel for the Fifth Circuit Court of Appeals recently held, in the Chapter 11 case In re Ultra Petroleum Corp., No. 17-20793 (5th Cir. Jan. 17, 2019), that (i) a creditor is not “impaired” by a reorganization...more

Katten Muchin Rosenman LLP

In re Tribune Co.: Allowance of Post-Petition Indenture Trustees Fees as Unsecured Claim

In a brief but significant opinion, the United States District Court for the District of Delaware reversed a decision by the United States Bankruptcy Court for the District of Delaware and allowed more than $30 million in...more

Kramer Levin Naftalis & Frankel LLP

Third Circuit Holds That Share Purchasers Take Shares Subject to Plan, Including Releases of Liability for Debtor’s...

A three-judge panel for the Third Circuit Court of Appeals recently held, in Chapter 15 case In re Arctic Glacier Int’l, Inc., No. 17-2522 (3d Cir. Aug. 20, 2018), that when purchasers of stock of a debtor are on notice of...more

Kramer Levin Naftalis & Frankel LLP

Fourth Circuit Upholds Requirement That Appellant Have an Economic Stake in Outcome of Appeal to Be a ‘Person Aggrieved’ and Boots...

In a one-paragraph affirmance of the lower court, in Mar-Bow Value Partners LLC v. McKinsey Recovery & Transformation Services US LLC (In re Alpha Natural Resources Inc., Nos. 17-2268; 17-2269 (4th Cir. Sept. 6, 2018), the...more

A&O Shearman

Ya Gotta Have [Good] Faith: Court of Appeals for the Ninth Circuit Holds That in the Context of Plan Voting, a Bad Faith Showing...

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When it comes to voting on a plan, Section 1126(e) of the Bankruptcy Code provides that a bankruptcy court may designate (or disallow) the votes of any entity whose vote to accept or reject was not made in “good faith” (a...more

A&O Shearman

(Make) Wholly Moly: U.S. Court of Appeals for the Second Circuit Upholds Ruling Denying Noteholders’ Entitlement to a Make-Whole...

A&O Shearman on

On October 20, 2017, the United States Court of Appeals for the Second Circuit issued a decision which, among other things, affirmed the lower courts’ holding that certain noteholders were not entitled to payment of a...more

Womble Bond Dickinson

United States Supreme Court Holds that Order Denying Plan Confirmation Is Not Immediately Appealable

Womble Bond Dickinson on

On May 4, 2015, the Supreme Court for the United States unanimously held that an order denying confirmation of a plan is not a “final” order subject to immediate appeal as a matter of right. Although the Bullard decision...more

Burr & Forman

Denial of Plan Confirmation and Finality - Supreme Court's Resolution of Circuit Split May Apply to Chapter 11

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The Supreme Court has agreed to hear Bullard v. Hyde Park Savings Bank (In re Bullard), U.S., No. 14-116 (cert. granted 12/12/14). The Court's decision in this case will resolve a circuit split with regard to whether an order...more

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