Delaware Business Court Insider | Q&A
By Ellen Bardash | August 10, 2023
Names of overseas creditors have been released by the bankruptcy court. The foreign creditors have formed an ad hoc committee represented by Eversheds Sutherland.
The Legal Intelligencer | Commentary
By Lawrence J. Kotler, Esq., and Drew S. McGehrin | August 10, 2023
The Bankruptcy Court thoroughly examined this issue and found that the "upload" time of a bankruptcy filing—and not the time physically "stamped" on a bankruptcy petition—determines when a case is commenced. In doing so, the Bankruptcy Court offered direction and guidelines that debtors and creditors will be well advised to observe in future cases.
By Dan Roe | August 7, 2023
The company, with $1.5 billion in outstanding debt, is among several high-profile debtor representations for Kirkland this year.
The Legal Intelligencer | Commentary
By Francis J. Lawall and Brenden S. Dahrouge | July 27, 2023
Chapter 11 cases involving mass tort and complex personal injury claims often require the resolution of novel legal issues that stretch the bounds of existing precedent. As these cases evolve, they can also impact claims against other debtors unrelated to the case at hand through court-approved injunctions, releases or settlements.
Delaware Business Court Insider
By Adolfo Pesquera | July 18, 2023
The opposing insurance companies sought relief from the U.S. Court of Appeals for the Third Circuit, but in April the appeals court denied a request by the plan's opponents to issue a stay while they appeal the federal court's approval of the plan. That appeal remains pending.
The Legal Intelligencer | Commentary
By Andrew C. Kassner and Joseph N. Argentina Jr. | July 6, 2023
In recent years, as extensive pre-bankruptcy planning has evolved, bankruptcy filings frequently involve affiliates of larger companies, engineered with a structuring of liabilities in mind. This is especially relevant in the area of mass tort litigation. The question of whether these targeted filings are for a legitimate bankruptcy purpose or should be dismissed has been the subject of significant high-profile litigation.
The Legal Intelligencer | Commentary
By Alexis Leventhal, Richard Tannenbaum and Victoria Smith | June 29, 2023
Article 9 of the Uniform Commercial Code (UCC) governs secured transactions, and Part 6 of this article governs the rights and duties of the parties in the event of default. In the event of default by a debtor, a secured party may repossess the collateral and dispose of it through a sale, lease, license, or other form of disposition.
Delaware Business Court Insider | News
By Colleen Murphy | June 16, 2023
"It is black letter law in this Circuit that the gold standard for determining the value of an asset is to sell it in an open and fair market," stated U.S. Bankruptcy Judge Brendan Linehan Shannon. "A thing is worth what a willing buyer will pay to a willing seller following a proper marketing process.
Delaware Business Court Insider | Commentary
By Robert B. Greco | June 14, 2023
A recent opinion from the U.S. Bankruptcy Court for the District of Delaware, In re CII Parent, provides helpful guidance on drafting proxies and highlights potential pitfalls for the unwary, including in relation to the proxyholder's power to execute and deliver stockholder consents.
Delaware Business Court Insider | News
By Ellen Bardash | June 9, 2023
U.S. Bankruptcy Judge John T. Dorsey of the District of Delaware said at the end of a hearing Friday that the decision is consistent with his goal of prioritizing creditors as the Chapter 11 process continues.
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