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August 11, 2022 | Law.com

'You Can't Use This Court to Perpetrate a Fraud': Judge Probes 3M's Actions Prior to Earplug Bankruptcy

At a Thursday hearing, U.S. District Judge M. Casey Rodgers continued to focus on an indemnity agreement 3M reached on July 25 to transfer liability to its subsidiary, Aearo Technologies, which, one day later, filed for bankruptcy. "You can't use this court to perpetrate a fraud on a bankruptcy," she told one of 3M's lawyers.
5 minute read
August 11, 2022 | The Legal Intelligencer

Bankruptcy Court: Willful and Malicious Injuries Will Restrict a Debtor's 'Fresh Start'

In re McGinn provides an example of a bankruptcy court's duties to weigh the often competing interests between the general policy of a "fresh start" conferred through a successful bankruptcy case against interests of fairness to parties who have suffered significant injuries willfully caused by the debtor.
9 minute read
August 03, 2022 | New York Law Journal

When Are Perfection and Priority Not Enough?

Even if you have a valid and properly perfected security interest, the story doesn't end there. Contractual arrangements can alter the benefits associated with that lien, and therefore it is important to ensure that any contract affecting lien rights is clear and unambiguous.
7 minute read
July 28, 2022 | The Legal Intelligencer

Unfunded Pension Liabilities Not an 'Interest' That Survives 363 Sales

The "twin goals" of most bankruptcy proceedings involve the "maximization" of return to creditors and the "prompt and efficient administration of the estate."
7 minute read
July 26, 2022 | Daily Business Review

3M Unit Files Bankruptcy, Claims Earplug MDL Is 'Broken Beyond Repair'

A 3M subsidiary and six related companies filed for Chapter 11 bankruptcy protection on Tuesday to resolve more than 230,000 lawsuits and claims alleging 3M's combat earplugs caused hearing loss and ringing of the ears.
6 minute read
Law Journal Press | Digital Book Texas Litigators’ Guide to Departing Employee Cases 2018 Authors: View this Book

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July 06, 2022 | New York Law Journal

Kramer Levin Partner Appointed to New York Bankruptcy Court

The eight-judge Southern District bankruptcy court has six judges sitting in Manhattan, one in White Plains and one in Poughkeepsie.
2 minute read
June 24, 2022 | The Legal Intelligencer

Alternative Methods for the Retention of Estate Professionals Are Appropriate in 'Unusual Cases'

Section 327(a) of the Bankruptcy Code allows debtors to employ estate professionals. The section requires these professionals to be "disinterested persons" who "do not hold or represent an interest adverse to the bankruptcy estate."
10 minute read
June 15, 2022 | Delaware Business Court Insider

'In re Kidbox.com': The 1-2-3's of Obtaining Stay Relief in ABCs

Strangers to the insolvency profession might be surprised to learn that it is often expensive to go bankrupt. Indeed, the high cost associated with obtaining relief under Chapter 11 of the federal Bankruptcy Code is a routine criticism of the federal bankruptcy scheme and an issue many commentators argue is ripe for reform.
6 minute read
June 09, 2022 | New York Law Journal

COVID Release and Motion To Vacate Denied, Permission To Amend Reversed

In this edition of their Eastern District Roundup, Harvey M. Stone and Richard H. Dolan report on several recent and significant representative decisions, including denial of a prisoner's application for compassionate release based on COVID concerns; denial of plaintiffs' motion to vacate a judgment against them, dismissing their claims under the Anti-Terrorism Act; and reversal of a decision permitting a debtor to amend her complaint.
9 minute read
May 26, 2022 | New York Law Journal

Navigating the Conflicting Views on Third-Party Releases in Bankruptcy Restructuring Plans, Part I

This two-part article will examine the role of third-party releases in successful Chapter 11 reorganizations. This installment will address the factors considered in each Circuit where such releases have been deemed permissible within the confines of the Bankruptcy Code, evaluate several recent cases highlighting the uncertainty created by the current Circuit split, and consider options for creating a clear, nationwide standard.
14 minute read

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