The US Bankruptcy Court for the District of Delaware recently reaffirmed but limited the holding of In re DSI Renal Holdings, LLC, which held that under Third Circuit law, neither debtors nor trustees could bring fraudulent...more
The US Bankruptcy Court for the Southern District of New York (the Court) recently approved third-party releases contained in a chapter 11 plan (the Plan) and found that, under the facts and circumstances, the opt-out...more
In re Parkcliffe Development, LLC, Case No. 24-30814 -
The US Bankruptcy Court for the Northern District of Ohio in In re Parkcliffe Development, LLC, Case No. 24-30814 (JPG) entered an order on January 28, 2025 denying a...more
The US Bankruptcy Court for the Northern District of Illinois (Bankruptcy Court) recently issued an opinion in In re 301 W North Avenue, LLC, Case No. 24 B 2741 (DDC) [Docket No. 253] (January 6, 2025) granting a secured...more
In a landmark ruling, the US Court of Appeals for the Fifth Circuit ruled that a June 2020 refinancing transaction (the Uptier Transaction) entered by Serta Simmons Bedding, LLC (SSB, or the Debtor) and certain of its lenders...more
1/14/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Breach of Contract ,
Chapter 11 ,
Commercial Bankruptcy ,
Credit Agreements ,
Creditors ,
Debt ,
Debtors ,
Lenders ,
Reorganizations
In the chapter 11 bankruptcy case of In re Roman Catholic Diocese of Rockville Centre, New York, Case No. 20-12345 (MG), the US Bankruptcy Court for the Southern District of New York recently approved settlement agreements...more
1/8/2025
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Churches ,
Commercial Bankruptcy ,
Commercial Insurance Policies ,
Insurance Claims ,
Insurance Litigation ,
Settlement Agreements ,
Sexual Abuse ,
Third-Party Release Agrements
The US Bankruptcy Court for the Western District of Pennsylvania issued a memorandum opinion on November 15, 2024, holding that a real property lease for a skilled nursing, long-term care, and rehabilitation facility should...more
12/4/2024
/ Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Commercial Bankruptcy ,
Commercial Leases ,
Commercial Tenants ,
Creditors ,
Debtors ,
Healthcare ,
Landlords ,
Long Term Care Facilities ,
Rental Property ,
Skilled Nursing Facility ,
Tenants
Introduction - On October 25, 2024, Judge John P. Mastando III of the US Bankruptcy Court for the Southern District of New York issued a ruling in Eletson Holdings Inc., Case No. 23-10322, pursuant to which he (a) denied...more
On September 19, 2024, the US Court of Appeals for the Second Circuit issued a summary order in which it held that the “safe harbor” provision of Section 546(e) of the Bankruptcy Code preempted a bankruptcy trustee’s state...more
10/3/2024
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Debt Restructuring ,
Financial Institutions ,
Fraudulent Transfers ,
Leveraged Buyout ,
Recapitalization ,
Safe Harbors ,
Securities ,
Trustees
In a case of first impression in the Ninth Circuit, the US Court of Appeals recently handed bankruptcy trustees a significant power by ruling in The Lovering Tubbs Trust v. Hoffman (In re O’Gorman) that a trustee can avoid...more
Introduction - On September 10, 2024, the US Court of Appeals for the Third Circuit decided in In re Hertz that although make-whole fees are unmatured interest typically disallowed by section 502(b) of the Bankruptcy Code, a...more