• In re: Samson Res. Corp.

    Publication Date: 2023-06-27
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff: Michael J. Farnan, Farnan LLP, Wilmington, DE; J. Christopher Shore, Colin T. West, White & Case, LLP, New York, NY for plaintiff.
    for defendant: Michael S. Neiberg, Young, Conaway, Stargatt & Taylor, LLP, Wilmington, DE; Sabina Willett, Morgan Lewis & Bockius LLP, Boston, MA; David M. Stern, KTBS Law LLP, Los Angeles, CA for defendants.

    Case Number: 15-11934 (BLS)

    Suit to recover proceeds of the sale of debtor as a fraudulent transfer failed where the acquisition negotiations were fair and conducted at arms-length, since the seller was entitled to sell the company for as much as they could get and the buyer was free to negotiate what it considered a fair price, even though in hindsight the purchase price seemed overinflated as it placed an unsustainable amount of debt on the company.

  • In re FTX Trading Ltd.

    Publication Date: 2023-06-13
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | E-Commerce | Federal Government
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Ramona D. Elliot, P. Matthew Sutko, Frederick Gaston Hall, Sumi K. Sakata, Department of Justice, Executive Office for United States Trustees, Washington, DC; Andrew R. Vara, Joseph J. McMahon, Jr., Benjamin A. Hackman, Juliet M. Sarkessian, Department of Justice, Office of the United States Trustee, Wilmington, DE for appellant.
    for defendant: Adam G. Landis, Kimberly A. Brown, Matthew R. Pierce, Landis Rath & Cobb LLP, Wilmington, DE; Andrew G. Dietderich, James L. Bromley, Brian D. Glueckstein, Alexa J. Kranzley, Sullivan & Cromwell LLP, New York, NY for appellees.

    Case Number: 22-11068 (JTD)

    District court was required to certify appeal of bankruptcy court order directly to the court of appeals where the order involved a purely question of law for which there was no controlling decision from the circuit court or Supreme Court.

  • In re VG Liquidation, Inc.

    Publication Date: 2023-05-30
    Practice Area: Bankruptcy
    Industry: Federal Government
    Court: U.S. Bankruptcy Court
    Judge: Judge Dorsey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 18-11120 (JTD)

    Refund of excess fees paid to United States Trustee program, pursuant to statute later deemed unconstitutional, was the appropriate remedy for the harm suffered by debtors.

  • In re: Healthcare Real Estate Partners, LLC

    Publication Date: 2023-05-30
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory | Real Estate
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 15-11931 (CTG)

    Debtor could recover reasonable legal costs incurred in dismissing involuntary petition filed by creditors to trigger their contractual rights to remove debtor from management role, rather than recover their claims against debtor's estate, but debtor suffered no lost profits damages where it was already an effectively defunct business at the time of the petition.

  • In re: MD Helicopters, Inc.

    Publication Date: 2023-05-23
    Practice Area: Bankruptcy
    Industry: Transportation
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Rendell
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-2217

    Court dismissed appeal from denial of motion to certify question to state supreme court since the order denying the motion was interlocutory.

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  • In re: Promise Healthcare Group, LLC

    Publication Date: 2023-05-02
    Practice Area: Bankruptcy
    Industry: Health Care
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 18-12491 (CTG)

    Creditors holding legal claims against a debtor were not required to file a lawsuit outside of the bankruptcy process in addition to filing a proof of claim to preserve their claims from the expiration of the statute of limitations, as the bankruptcy code required evaluating proof of claims as of the date of the bankruptcy filing, and requiring the filing of separate lawsuits ran contrary to the purpose of bankruptcy to provide a single forum to resolve claims against a debtor.

  • In re: Cred Inc.

    Publication Date: 2023-04-25
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | E-Commerce | Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Dorsey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 20-12836 (JTD)

    Claims of aiding and abetting breaches of fiduciary duties failed where plaintiff failed to plead facts showing that defendants knew of debtor company's problems or that knowledge of those problems would alert defendants to debtor's officers' breaches of fiduciary duties.

  • In re: Arsenal Intermediate Holdings, LLC

    Publication Date: 2023-04-25
    Practice Area: Bankruptcy
    Industry: Insurance
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 23-10097 (CTG)

    Court declined to approve opt-out procedure for obtaining creditor consent to third-party releases, where the court's prior order may have had the effect of preventing certain creditors from learning about their claims against debtors or the third-party beneficiaries until after the deadline to opt out.

  • In re: Windhaven Top Ins. Holdings, LLC

    Publication Date: 2023-04-25
    Practice Area: Bankruptcy
    Industry: Consulting | Insurance
    Court: U.S. District Court of Delaware
    Judge: District Judge Connolly
    Attorneys: For plaintiff: Gregory L. Arbogast, Keith M. Lusby, Gebhardt & Smith LLP, Wilmington, DE for appellant.
    for defendant: Mark E. Felger, Barry M. Klayman, Gregory F. Fischer, Cozen O'Connor, Wilmington, DE for appellee.

    Case Number: 20-10524 (JTD)

    Bankruptcy court's jurisdiction to determine whether disputed funds were part of a debtor's estate did not "impair" the enforcement of state insurance laws and therefore did not trigger reverse preemption.

  • SC SJ Holdings, LLC v. Pillsbury Winthrop Shaw Pittman LLP

    Publication Date: 2023-04-04
    Practice Area: Bankruptcy
    Industry: Hospitality and Lodging | Legal Services
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Busenkell, Ronald S. Gellert, Bradley P. Lehman, Gellert Scali Buskenell & Brown, LLC; Michael T. Mihm, Jason B. Wesoky, James E. Fogg, Ogborn Mihm LLP for appellants.
    for defendant: John D. Demmy, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Brad D. Brian, Bethany W. Kristovich, Munger, Torres & Olson LLP, Los Angeles, CA for appellee.

    Case Number: 22-689 (MN)

    The court affirmed an order of the Bankruptcy Court which denied debtor's request to limit certain provisions of their Chapter 11 Plan.