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Class Action › Bankruptcy Code

A class action is a type of legal action where a representative individual or group of individuals can bring a claim on behalf of a larger group or class who share a common legal interest.
Bradley Arant Boult Cummings LLP

Two Steps Too Far: New Limitations on the Use of the Texas Two- Step to Resolve Mass Tort Liability in Bankruptcy

Bradley Arant Boult Cummings LLP on

This paper explores the mechanisms by which companies have utilized corporate restructuring through divisive mergers in conjunction with the available protections and tools of the United States Bankruptcy Code to resolve mass...more

Patterson Belknap Webb & Tyler LLP

Tenth Circuit Holds that Sovereign Immunity Does Not Limit Section 544 Claim

Patterson Belknap Webb & Tyler LLP on

Section 544(b)(1) of the Bankruptcy Code enables a trustee to step into the shoes of a creditor and avoid a transfer “of an interest of the debtor in property” that an unsecured creditor could avoid under applicable state...more

Patterson Belknap Webb & Tyler LLP

The State of Student Loan Debt in Bankruptcy

Patterson Belknap Webb & Tyler LLP on

On June 30, the Supreme Court ruled that the Biden administration did not have authority to forgive student loans under the Higher Education Relief Opportunities for Students Act of 2003 (HEROES Act). Despite this defeat,...more

Hogan Lovells

Court in Puerto Rico case adopts alternative test to find settlement agreements were executory

Hogan Lovells on

Section 365 of the Bankruptcy Code creates a framework through which a debtor can elect to either assume or reject an executory contract. Because the Bankruptcy Code does not define "executory", courts utilize various tests...more

Dorsey & Whitney LLP

2020 Recap: Corporate Restructuring Review

Dorsey & Whitney LLP on

Amidst a global pandemic, there were plenty of interesting bankruptcy and restructuring events and changes that occurred in 2020. We saw new Bankruptcy Code amendments go into effect (through the Small Business Reorganization...more

Carlton Fields

Should I Stay or Should I Go? Bankruptcy Preemption May Bar FDCPA and FCCPA Claims Either Way

Carlton Fields on

After receiving a bankruptcy discharge, a borrower whose home is pending foreclosure has two options: stay in the home and, perhaps, make voluntary payments on the mortgage, or leave the home and start fresh. When a debt...more

Carlton Fields

Financial Services Update: Week Ending November 1, 2019

Carlton Fields on

Financial Services Update - FCCPA and FDCPA: The plaintiff did not demonstrate a genuine issue of material fact that medical providers and their attorney violated the FCCPA and FDCPA by conditioning medical services on a...more

Pillsbury Winthrop Shaw Pittman LLP

Wage Wars: Employee Class Actions and the Bankruptcy Proof of Claim Process

Pillsbury Winthrop Shaw Pittman LLP on

Rule 23 gains a toehold in certain bankruptcy proceedings. Generally impermissible until 1987, class action proofs of claim have increasingly been used by class creditors to their advantage. ...more

Goodwin

Financial Services Weekly News - February 2018 #3

Goodwin on

Editor's Note - Consumer Finance 2017 Year in Review. Year 2017 brought leadership change at the Consumer Financial Protection Bureau (CFPB), turnover at various regulatory agencies, the continued rise of state-level...more

Dechert LLP

Restructuring and Insolvency Bulletin Issue 3 - January 2018: Takata's Japanese Bankruptcy Case Survives Public Policy Objection

Dechert LLP on

As has been widely reported, over the last several years Takata Corporation and its various worldwide subsidiaries (together “Takata”) have been involved in a multitude of governmental investigations, class actions and...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Third Circuit Provides Road Map for Structured Dismissals"

Skadden, Arps, Slate, Meagher & Flom LLP on

In the past decade, Chapter 11 practice has witnessed the rise of a new phenomenon: structured dismissals.1 Broadly speaking, the term structured dismissal is an umbrella term for a dismissal order that includes additional...more

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