News & Analysis as of

Reorganizations Reversal

Cozen O'Connor

Supreme Court Orders Stand Down on Insurance Neutrality Test for Standing

Cozen O'Connor on

On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al.,1 nullifying the insurance neutrality test for insurer standing in bankruptcy...more

Goldberg Segalla

U.S. Supreme Court Holds that Insurers are Parties in Interest in Bankruptcy Proceedings and Can Object to Reorganization Plans

Goldberg Segalla on

Companies faced with numerous mass tort claims, such as asbestos claims, often seek bankruptcy protection. Reorganization plans may include § 524(g) channeling injunctions in which insurance assets are put into a trust to pay...more

White and Williams LLP

Supreme Court Endorses Broad Insurer Standing in Bankruptcy Reorganizations

The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more

Parker Poe Adams & Bernstein LLP

Admission That Business Unit Was Closed Due to Employee's Disability Precludes Dismissal of ADA Claim

When advising employers about the legal risks associated with a business reorganization, we generally advise that discrimination claims are less likely when a company closes an entire facility or department as compared to...more

Dechert LLP

Global Private Equity Newsletter - Winter 2019 Edition: Recent Developments in Acquisition Finance: Ninth Circuit Rejects Broad...

Dechert LLP on

Those seeking to purchase assets or a business out of a Chapter 11 case employing a “loan to own” strategy may well have received a boost from a recent decision of the U.S. Court of Appeals for the Ninth Circuit....more

Dechert LLP

Raising the Bar for Bad Faith, the Ninth Circuit Reverses Votes Designation

Dechert LLP on

The Ninth Circuit reversed and remanded an Oregon bankruptcy court’s order designating recently acquired claims of a secured creditor for bad faith, holding that a bad faith finding requires “something more.” Specifically,...more

Dechert LLP

The Enforceability of Ipso Facto Provisions in a Dismissed Chapter 11 Case

Dechert LLP on

Section 365 of the U.S. Bankruptcy Code does not address the legal status of an executory contract that is not assumed or rejected in a chapter 11 proceeding. In such cases where a chapter 11 plan is confirmed, courts adopt...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

EBA Updates Single Rulebook Q&As - On October 16, 2015, the European Banking Authority (EBA) updated its Q&As on the single rulebook, publishing four new questions. The single rulebook Q&As relate to the CRD IV package...more

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