News & Analysis as of

Real Party in Interest Commercial Bankruptcy

Pillsbury Winthrop Shaw Pittman LLP

SCOTUS Grants Insurers “Party in Interest” Standing in Chapter 11 Cases

In a rebuke of a common law doctrine that denied insurer standing in chapter 11, the U.S. Supreme Court ruled unanimously that insurers with financial responsibility for claims asserted in bankruptcy are parties in interest...more

Fox Rothschild LLP

Who’s a Party in Interest? The Supreme Court’s Ruling in Truck Insurance Exchange v. Kaiser Gypsum Co. Inc. Opens the Door for...

Fox Rothschild LLP on

Kaiser Gypsum Company Inc. and Hanson Permanente Cement, Inc. (collectively, the “Debtors”), manufacturers of asbestos-containing cement products, filed for chapter 11 bankruptcy on September 30, 2016 (“Petition Date”) in the...more

Dorsey & Whitney LLP

The Supreme Court Update - June 6, 2024

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The Supreme Court of the United States issued three decisions today: Becerra v. San Carlos Apache Tribe, No. 23-250: This case concerns the funding the Indian Health Service (“IHS”) must provide to Indian tribes that...more

Kramer Levin Naftalis & Frankel LLP

Court Sides With Minority View Concluding Intervention Under Section 1109(b) Does Not Apply to Adversary Proceedings

In a recent decision in Dillworth v. Mahecha Diaz, Adv. No. 20-1079-SMG, 2022 WL 1123004 (Bankr. S.D. Fla. April 15, 2022), the Bankruptcy Court for the Southern District of Florida found that a post-confirmation creditors’...more

Jones Day

Creditors' Committee Denied Standing to Bring Derivative Claims on Behalf of LLC Debtor in Bankruptcy

Jones Day on

The practice of conferring "derivative standing" on official creditors' committees to assert claims on behalf of a bankruptcy estate in cases where the debtor or a bankruptcy trustee is unwilling or unable to do so is a...more

Jones Day

Subordination Agreement Barred Bankruptcy Discovery Concerning Senior Debt

Jones Day on

In In re Argon Credit, LLC, 2019 WL 169315 (Bankr. N.D. Ill. Jan. 10, 2019), the U.S. Bankruptcy Court for the Northern District of Illinois ruled that, in accordance with section 510(a) of the Bankruptcy Code, a standby...more

Orrick - Finance 20/20

ResCap Liquidating Trust Repurchase Lawsuit Survives Motion to Dismiss in Part:

Orrick - Finance 20/20 on

On February 3, Judge Martin Glenn of the United States Bankruptcy Court of the Southern District of New York denied defendants’ motions to dismiss four adversary proceedings brought by the liquidating trust for Residential...more

Polsinelli

Beneficiaries Lack Standing to Challenge Trustee's Actions in Bankruptcy Court

Polsinelli on

In a recent ruling on In re Land Securities Investors, Ltd., the United States Bankruptcy Court for the District of Colorado ruled that trust beneficiaries do not have standing to appear in a bankruptcy case even when the...more

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