Delaware Business Court Insider | Commentary
By Barry M. Klayman and Mark E. Felger | August 31, 2022
In Miller v. Black Diamond Capital Management (In re Bayou Steel BD Holdings), Adv. Pro. No. 21-51013 (KBO), 2022 WL 3079861 (Bankr. D. Del. Aug. 3, 2022), U.S. Bankruptcy Judge Karen B. Owens held that Delaware's three-year statute of repose on the liability of a member for distributions from a limited liability company, measured from the date of distribution, was preempted by Section 546 of the Bankruptcy Code.
The Legal Intelligencer | Commentary
By Rudolph J. Di Massa Jr. and Drew S. McGehrin | August 11, 2022
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.
By Ellen Bardash | August 1, 2022
Attorneys for some of the 82,209 total abuse claimants said Monday they're looking to make adjustments and get a final confirmation order in place within a month.
Delaware Business Court Insider | Commentary
By Kate Roggio Buck and Shannon Dougherty Humiston | July 27, 2022
The U.S. Bankruptcy Court for the District of Delaware declared on July 14 that creditors known to debtors prior to filing for Chapter 11 bankruptcy that did not receive actual notice of the bankruptcy cases may pursue claims in the venue of their choice.
By William (Bill) Lobel | July 11, 2022
Cyclical challenges in the economy are nothing new to bankruptcy attorneys and their clients, and 2022 is shaping up to be that kind of year for business owners nationwide. This is likely to result in a greater need for the services of bankruptcy attorneys as business owners face a mounting wave of distressed financial assets.
Delaware Business Court Insider
By Zack Needles | June 28, 2022
Concluding that "amendment would be futile," the U.S. Court of Appeals for the Third Circuit has rejected a bid by a class of female employees to collect a more than $3.5 million judgment entered just before their employer, John Varvatos Enterprises, filed for bankruptcy.
By Colleen Murphy | June 28, 2022
Concluding that "amendment would be futile," the U.S. Court of Appeals for the Third Circuit has rejected a bid by a class of female employees to collect a more than $3.5 million judgment entered just before their employer, John Varvatos Enterprises, filed for bankruptcy.
The Legal Intelligencer | Commentary
By Rudolph J. Di Massa Jr. and George W. Fitting | June 24, 2022
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."
Delaware Business Court Insider | Commentary
By Jarret P. Hitchings | June 15, 2022
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.
The Legal Intelligencer | Commentary
By Francis J. Lawall and Marcy J. McLaughlin Smith | June 9, 2022
A recent letter ruling by the Delaware Bankruptcy Court in Mesabi Metallics v. Cleveland-Cliffs, may provide some relief to a nonparty, and change a party's cost-benefit analysis when deciding whether to issue a third party subpoena.
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