• Town Sports Int'l LLC v. Kennedy Lewis Partners Master Fund LP

    Publication Date: 2023-01-24
    Practice Area: Bankruptcy | Contracts
    Industry: Financial Services and Banking
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 20-12168 (CTG)

    The court granted defendants' motion for summary judgment to dismiss plaintiff's breach of contract claims.

  • In re: NNN 400 Capitol Center 16 LLC

    Publication Date: 2023-01-10
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Legal Services | Real Estate
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Ambro
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 21-3013

    The court affirmed the District Court's ruling affirming the Bankruptcy Court's decision to disqualify counsel and order fees disgorged.

  • In re: Diversified Mercury Commc'ns, LLC

    Publication Date: 2022-12-13
    Practice Area: Bankruptcy
    Industry: Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Owens
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 19-10757 (KBO)

    Bankruptcy trustee could not recover preferential transfer that constituted payment of an invoice for services rendered in the ordinary course of business, where there was no indication of unusual collection efforts by the creditor.

  • In re Akorn Inc.

    Publication Date: 2022-12-13
    Practice Area: Bankruptcy
    Industry: Pharmaceuticals
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Restrepo
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 21-2973

    The court affirmed the judgment of the District Court and Bankruptcy Court approving a Chapter 11 Plan which designated secured lenders as class three creditors.

  • In re: Veale

    Publication Date: 2022-11-08
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Health Care
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Sean A. Meluney, Matthew D. Beebe, Benesch, Friedlander, Coplan & Aronoff LLP, Wilmington, DE for appellant.
    for defendant: Peter K. Schaeffer, Jr., Avenue Law, Dover, DE for appellee.

    Case Number: 21-10418-BLS

    Creditor's complaint seeking to declare personal guaranty nondischargeable in bankruptcy dismissed where creditor failed to allege facts to support that borrower or guarantor intentionally made misrepresentations concerning the state of borrower's business or guarantor's individual financial situation.

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  • In re: MTE Holdings LLC

    Publication Date: 2022-09-06
    Practice Area: Bankruptcy
    Industry: Energy
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69946

    Intentional fraudulent conveyance claim could proceed despite the lack of allegations of "badges of fraud" where complaint pled sufficient facts to support an inference that defendants transferred away debtors' assets for the purposes of delaying and defrauding secured creditors.

  • In re: The Weinstein Co. Holdings, LLC

    Publication Date: 2022-08-23
    Practice Area: Bankruptcy
    Industry: Entertainment and Leisure
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: R. Crain Martin, Matthew S. Sama, DLA Piper LLP (US), Wilmington, DE; Brett Ingerman, DLA Piper LLP (US), Baltimore, MD; Rachel Ehrlich Albanese, DLA Piper LLP (US), New York, NY for appellant.
    for defendant: Robert S. Chapman, Sauer & Wagner LLP, Los Angeles, CA; Adam G. Landis, Kerri K. Mumford, Landis Rath & Cobb LLP, Wilmington, DE for appellee.

    Case Number: D69931

    Bankruptcy court correctly interpreted asset purchase agreement as entitling affiliate to payment on his participation interest where APA expressly identified the interest as a permitted lien that purchaser remained subject to, and thus the broader, general exclusion of obligations to debtor's affiliates did not control.

  • In re: Bayou Steel BD Holdings, LLC

    Publication Date: 2022-08-16
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Owens
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69925

    State law avoidance claims were timely where bankruptcy code could override statute of repose and permit the filing of the claim if it was timely upon the filing of the bankruptcy petition.

  • In re: Nobilis Health Corp.

    Publication Date: 2022-08-09
    Practice Area: Bankruptcy
    Industry:
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D69912

    Corporate waste and fraud adversary claims against directors and officers dismissed where less-than-diligent collection of accounts receivable failed to rise to the level of waste and where debtors were more properly characterized as the perpetrators of the alleged fraud rather than the victims of said fraud.

  • In re: TPC Group. Inc.

    Publication Date: 2022-08-09
    Practice Area: Bankruptcy
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Andrews
    Attorneys: For plaintiff: Jennifer Selendy, Andrew R. Dunlap, Oscar Shine, Max H. Siegel, Selendy Gay Elsberg PLLC, New York, NY; Laura Davis Jones, Timothy P. Cairns, Pachulski Stang Ziehl & Jones LLP, Wilmington, DE for appellants.
    for defendant: James R. Prince, Kevin Chiu, Baker Botts LLP, Dallas, TX; Scott R. Bowling, Baker Botts LLP, New York, NY; David R. Eastlake, Lauren N. Randle, Baker Botts LLP, Houston, TX; Robert J. Dehney, Curtis S. Miller, Daniel B. Butz, Matthew 0. Talmo, Brian Loughnane, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Kristopher M. Hansen, Kenneth Pasquale, Jonathan D. Canfield, Paul Hastings LLP, New York, NY; Matthew B. Lunn, Robert F. Poppiti, Jr., Young Conaway Stargatt & Taylor, LLP for appellees.

    Case Number: D69911

    Emergency stay of bankruptcy court's adverse grant of judgment in adversary proceeding denied where appellants were unlikely to prevail on the merits of their appeal and where harm to Chapter 11 debtor outweighed the harm that might come from the reduction of appellants' claims.