Recent decisions reflect a renewed focus on lock-up provisions by bankruptcy courts.
The U.S. Bankruptcy Court for the Southern District of New York recently severed a provision from a post-petition agreement that required...more
7/31/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Counsel ,
Creditors ,
Debtors ,
Enforcement ,
Liquidity ,
New York ,
Popular ,
Reorganizations
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
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
In rejecting an insurer’s attempt to block confirmation of its insured’s bankruptcy plan, the Fourth Circuit found that an insurer may not interject itself into plan negotiations by invoking the duty to cooperate, nor does...more
4/10/2023
/ Appeals ,
Article III ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial General Liability Policies ,
Duty to Cooperate ,
Financial Services Industry ,
Insolvency ,
Insurance Litigation ,
Insureds ,
Liability Insurance ,
Restructuring
The Coronavirus Aid, Relief and Economic Security (CARES) Act temporarily expands eligibility for “small businesses” to reorganize under chapter 11 over creditor objection under a new law that streamlines chapter 11...more