In a warning to corporations plagued by litigation woes, the U.S. 3rd Circuit Court of Appeals ruled that SGL Carbon AG misused U.S. bankruptcy laws when a financially healthy unit filed for Chapter 11 protection to prod customers into settling antitrust lawsuits.
The Philadelphia-based 3rd Circuit concluded Dec. 29 that SGL Carbon Corp., SGL Carbon’s U.S. arm, improperly sought protection from creditors in U.S. Bankruptcy Court in Wilmington last year to gain leverage in antitrust suits alleging the company engaged in price fixing, rather than filing to reorganize to address business problems.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]