• In re: EHT US1, Inc.

    Publication Date: 2021-12-07
    Practice Area: Bankruptcy
    Industry: Hospitality and Lodging
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Seth Van Allen, G. David Dean, Justin R. Alberto, Cole Schotz, P.C., Wilmington, DE; Luc A. Despins, Nicholas A. Basset, G. Alexander Bongartz, Paul Hastings LLP, New York, NY for plaintiff.
    for defendant: Bruce W. McCullough, Bodell Bove, LLC Wilmington, DE for defendants.

    Case Number: D69630

    Bankruptcy court could hold adversary proceeding defendants in civil contempt for failure to comply with the court's preliminary injunction order requiring a detailed accounting and enjoining defendants from dissipating or otherwise transferring their assets, after defendants' accounting was woefully deficient and defendants expressly stated their intention to transfer funds.

  • Lynch v. Jacobs

    Publication Date: 2021-12-07
    Practice Area: Bankruptcy
    Industry:
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Michael D. Lynch, Candence B. Lynch, pro se appellants
    for defendant: Miami, FL. Victoria A. Guilfoyle, Brian J. Hall, Blank Rome LLP, Wilmington, DE; Mark S. Indelicato, Jeffrey Zawadski, Hahn Hessen LLP, New York, NY for appellee.

    Case Number: D69637

    Because appellants attempted to re-litigate arguments that were already considered and rejected by the court, their motion to basically re-open their bankruptcy matter failed to satisfy the requirements of either Fed. R. Civ. P. 59(e) or 60(b).

  • In re: Park Place Dev. Primary, LLC

    Publication Date: 2021-11-16
    Practice Area: Bankruptcy
    Industry: Construction | Real Estate
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Marcy J. Mclaughlin Smith, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Gary W. Marsh, Troutman Pepper Hamilton Sanders LLP, Atlanta, GA; Brett D. Goodman, Troutman Pepper Hamilton Sanders LLP, New York, NY for debtor.
    for defendant: Daniel A. O’Brien, Venable LLP, Wilmington, DE; Jeffrey S. Sabin, James E. Frankel, Gary L. Rubin, and Carol A. Weiner, Venable LLP, New York, NY for creditors.

    Case Number: D69612

    Involuntary bankruptcy petition dismissed as having been filed in bad faith, where petitioning creditors represented contractors holding mechanic's liens and the totality of the circumstances indicated that petitioners sought to avoid extinguishment of their claims in a related foreclosure action and instead litigate in the more favorable forum of the bankruptcy court.

  • In Re Windhaven Top Ins. Holdings, LLC

    Publication Date: 2021-11-02
    Practice Area: Bankruptcy
    Industry: Consulting | Insurance
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Lisa Bittle Tancredi, Gebhardt & Smith LLP, Wilmington, DE for Risk & Regulatory Consulting, LLC. Mark E. Felger, Barry M. Klayman, Gregory F. Fischer, Wilmington, DE for Jeoffrey L. Burtch, Chapter 7 Trustee.
    for defendant: Eric D. Schwartz, Matthew B. Harvey, Paige N. Topper, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Pater Ivancik, Alex M. Sher, Hogan Lovells US LLP New York, NY for Atalaya Capital Management LLP, Atalaya Special Opportunities Fund VII LP and Midtown Madison Management LLC.

    Case Number: D69596

    The court held that the Bankruptcy Code was not reverse preempted by the Texas Insurance Code because the underlying dispute was a contract dispute, but not the business of insurance.

  • In Re: Essar Steel Minnesota, LLC

    Publication Date: 2021-10-27
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69585

    In this adversary proceeding, the court found that the litigation trustee had met his burden in pleading plausible factual al-legations to show the court had subject-matter jurisdiction over the matter, personal jurisdiction over defendant, and had pled facts sufficient to state a claim for aiding and abetting breach of fiduciary duty.

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  • In re: NNN 400 Capitol Ctr. 16 LLC

    Publication Date: 2021-10-27
    Practice Area: Bankruptcy
    Industry: Legal Services
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69588

    Bankruptcy court properly sanctioned and disqualified special counsel where it failed to disclose the nature of its business structure and the fact that it had financial arrangements that were adverse to the interests of debtor clients regarding matters for which counsel had been retained.

  • In re: Sportco Holdings, Inc.

    Publication Date: 2021-10-20
    Practice Area: Bankruptcy
    Industry: Distribution and Wholesale
    Court: U.S. Bankruptcy Court
    Judge: Judge Stickles
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69581

    Breach of duty and loyalty claims were not dismissed where complaint alleged sufficient facts to support inference that directors and officers failed to fully inform them of risks of acquisition transaction, and may have declined an out-of-court restructuring when they failed to obtain personal benefit in the restructuring.

  • In re Extraction Oil & Gas, Inc.

    Publication Date: 2021-10-06
    Practice Area: Bankruptcy
    Industry: Energy
    Court: U.S. District Court of Delaware
    Judge: District Judge Sontchi
    Attorneys: For plaintiff: Maria Aprile Sawczuk, Steven Yachik, Goldstein & McClintock LLP, Chicago, IL; Steven Louis-Prescott, Hamre, Rodriguez Ostrander & Dingess, P.C., Denver, CO; Matthew D. Skeen, Jr., Skeen & Skeen, P.C., Denver, CO for plaintiffs.
    for defendant: Marc R. Abrams, Richard W. Riley, Stephen B. Gerald, Whiteford, Taylor & Preston LLC, Wilmington, DE; Christopher Marcus, P.C., Allyson Smith Weinhouse, Ciara Foster, Kirkland & Ellis LLP, New York, NY; Anna Rotman, P.C.m Kenneth Young, Kirkland & Ellis LLP, Houston, TX for reorganized debtors.

    Case Number: D69564

    Bankruptcy court granted a motion to dismiss an adversary proceeding for lack of subject matter jurisdiction, because royalty claimants failed to exhaust their administrative remedies under state law.

  • In re: MTE Holdings, LLC

    Publication Date: 2021-09-29
    Practice Area: Bankruptcy
    Industry: Energy
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69554

    The court denied a motion to stay an order confirming a plan of reorganization in bankruptcy, because the moving party failed to act promptly and did not demonstrate a likelihood of success on the merits.

  • In re Abeinsa Holding Inc.

    Publication Date: 2021-09-22
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Construction | State and Local Government
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Phipps
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69543

    Proof of claim arising from unpaid contractor invoices properly dismissed where California law prohibited payment for unlicensed contractor work performed in the state.