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Creditors Non-Debtors

Jones Day

Florida Bankruptcy Court Substantively Consolidates Debtor and Non-Debtor Entities

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The Bankruptcy Code does not explicitly authorize the equitable remedy of "substantive consolidation"—i.e., treating the assets and liabilities of two or more related entities as if they belonged to a single, consolidated...more

DarrowEverett LLP

Release Me? Supreme Court to Resolve Contentious Bankruptcy Issue

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In March 2022, we discussed the decision by the Southern District of New York (the “District Court”) overturning the U.S. Bankruptcy Court for the Southern District of New York’s (the “Bankruptcy Court”) confirmation of...more

Troutman Pepper

Who Is the Claims Agent and What Type of Information Can I Obtain on Their Website? - Creditor’s Rights Toolkit

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Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy. A claims agent is a third party retained by the debtor to take on...more

Mintz - Bankruptcy & Restructuring Viewpoints

The Expanding Contours of Permissible Non-Debtor Releases in the Ninth Circuit

Until recently, courts in the Ninth Circuit have generally followed the minority view that non-debtor releases in a bankruptcy plan are prohibited by Bankruptcy Code Section 524(e), which provides that the “discharge of a...more

Skadden, Arps, Slate, Meagher & Flom LLP

New Trends Emerge for ‘Consensual’ Third-Party Releases in the Southern District of New York and District of Delaware

A survey of recent rulings by judges from the bankruptcy courts for the Southern District of New York and the District of Delaware suggests that judges in these districts have very different views about the nature and extent...more

Nelson Mullins Riley & Scarborough LLP

Ninth Circuit: No Consolidation Absent Notice to Creditors of Non-Debtors

In In re Mihranian, 2019 WL 4252115 (9th Cir. 2019), the Ninth Circuit Court of Appeals held, as a matter of first impression, that a party moving for substantive consolidation of the debtor's bankruptcy estate with the...more

Dechert LLP

Substantive Consolidation of Non-Debtors-Standing and Notice Issues

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U.S. courts generally agree that the substantive consolidation should be applied sparingly, and even more so when substantive consolidation of debtors with non-debtors is sought. While many opinions address the grounds for...more

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