• In re Solutions Liquidation LLC

    Publication Date: 2019-11-06
    Practice Area: Bankruptcy
    Industry: Consulting | Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Sontchi
    Attorneys: For plaintiff: Matthew P. Ward and Ericka F. Johnson, Womble Bond Dickinson (US) LLP, Wilmington, DE; David J. Stone, Brager Eagel & Squire, P.C., New York, NY for liquidation trust.
    for defendant: Marc J. Phillips and William R. Firth, III, CKR Law, LLP, Wilmington, DE for defendants Stienes, Lavenberg, Taylor and Garver. Daniel C. Kerrick and Garvan F. McDaniel, Hogan & McDaniel, Wilmington, DE for defendant Barker.

    Case Number: D68762

    An exculpation clause in a limited liability company agreement did not bar a claim for breach of the duty of care based on gross negligence.

  • In re Oldapco, Inc.

    Publication Date: 2019-11-06
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Walrath
    Attorneys: For plaintiff: Mark L. Desgrosseilliers, Chipman Brown Cicero & Cole, LLP, Wilmington, DE; Lars C. Golumbic, Groom Law Group, Wash-ington, DC for Stout Risius defendants.
    for defendant: Mark Minuti and Monique B. DiSabatino, Saul Ewing Arnstein & Lehr LLP, Wilmington, DE; Craig C. Martin, David Jimenez-Ekman, Melissa M. Root and Michael T. Graham, Jenner & Block, LLP, Chicago, IL for former directors and officers. Carl N. Kunz, III, Morris James LLP, Wilmington, DE; Michael L. Scheier, Brian P. Muething and Jacob Rhode, Keating Mue-thing & Klekamp, Cincinnati, OH for Argent Trust Co. Christine Mackintosh, Vivek Upadhya, R. Alexander Gartman and Gordon Z. Novod, Grant & Eisenhofer P.A., Wilmington, DE and New York, NY for co-trustees of Appvion Liquidating Trust.

    Case Number: D68761

    Bankruptcy court determined that it had subject matter jurisdiction to hear non-core proceedings related to this Chapter 11 matter.

  • In re: Chaparral Energy, Inc.

    Publication Date: 2019-10-09
    Practice Area: Bankruptcy
    Industry: Energy | Mining and Resources
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Mark D. Collins and John H. Knight, Richards, Layton & Finger, P.A, Wilmington, DE; Richard A. Levy, Keith A. Simon, and Christopher Harris, Latham & Watkins LLP, New York, NY for appellant.
    for defendant: Seth Niederman, William H. Stassen, and Dana S. Katz, Fox Rothschild LLP, Wilmington, DE for appellees.

    Case Number: D68728

    Bankruptcy court did not abuse discretion to apply Bankruptcy Rule 7023 where it had grounds to find that all potential class members may not have been served with notice of the bar date, that certification would not adversely affect estate administration, and that the class claim would serve a deterrent effect upon the reorganized debtor.

  • In re: NewStarcom Holdings, Inc.

    Publication Date: 2019-09-25
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory | Manufacturing
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68714

    A bankruptcy trustee's claims for fraudulent transfer did not involve property of a debtor, and the trustee's motion for recon-sideration failed to demonstrate the existence of new evidence or manifest injustice.

  • In re FAH Liquidating Corp.

    Publication Date: 2019-09-18
    Practice Area: Bankruptcy
    Industry: Automotive | Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Gross
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68706

    The parties' agreement specifically covered issues regarding certain upfront payments, so the litigation trustee was not enti-tled to pursue an action for unjust enrichment.

  • In re: Old BPSUSH Inc.

    Publication Date: 2019-07-03
    Practice Area: Bankruptcy
    Industry: Accounting | Consumer Products | Legal Services
    Court: U.S. Bankruptcy Court
    Judge: Judge Carey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68618

    Bankruptcy court determined that the work product doctrine did not prevent the liquidation trustee from receiving records relating to a law firm's pre-petition work for debtor's audit committee, except for internal firm documents.

  • In re: Energy Future Holdings Corp.

    Publication Date: 2019-07-03
    Practice Area: Bankruptcy
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Bibas
    Attorneys: For plaintiff: GianClaudio Finizio and Neil B. Glassman, Bayard P.A., Wilmington, DE; Jeremy C. Hollembeak, Michael S. Kim, Benjamin J. Sauter and Andrew D. Wang, Kobre & Kim, New York, NY for Delaware Trust Co. Ashley R. Altschuler and R. Craig Martin, DLA Piper, Wilmington, DE
    for defendant: Thomas J. Curtin, Ellen M. Halstead, Howard R. Hawkins, Jr., Michele Maman and Mark C. Ellenberg, Cadwalader Wicker-sham & Taft, New York, NY and Washington, DC; Scott B. Czerwonka, Wilks Lukoff & Bracegirdle, Wilmington, DE for Mor-gan Stanley Capital Group Inc. George A. Davis, Latham & Watkins, New York, NY; Michael D. DeBaecke, Ashby & Geddes, Wilmington, DE; Peter M. Friedman, Jonathan Rosenberg and Daniel S. Shamah, O'Melveny & Myers, Washington, DC and New York, NY; Thomas R. Hooper and Mark D. Kotwick, Seward & Kissel, New York, NY; Joseph H. Huston, Jr., Stevens & Lee, Wilmington, DE for Wilmington Trust N.A. Mark E. Felger and Simon Fraser, Cozen O'Connor, Wilmington, DE; Hu-mayun Khalid, Thomas J. Moloney and Sean A. O'Neal, Cleary Gottlieb Steen & Hamilton, New York, NY for J. Aron & Co. Bradley R. Aronstam and Nicholas D. Mozal, Ross Aronstam & Moritz, Wilmington, DE , Adam B. Banks, Weil Gotshal & Manges, New York, NY for Titan Investment Holdings LP.

    Case Number: D68617

    Following approval of a bankruptcy plan and corporate restructuring, payments and distributions to creditors were no longer considered collateral or proceeds under the waterfall provision of an intercreditor agreement.

  • In re: Vantage Drilling Int'l

    Publication Date: 2019-07-03
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory | Mining and Resources
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68619

    Parties in this bankruptcy matter lacked standing to object to debtor's plan of reorganization.

  • In re: Managed Storage Int'l, Inc.

    Publication Date: 2019-05-01
    Practice Area: Bankruptcy
    Industry: Distribution and Wholesale | Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Walrath
    Attorneys: For plaintiff: R. Grant Dick, IV and Robert W. Pedigo, Cooch and Taylor, P.A., Wilmington, DE for plaintiff.
    for defendant: Dennis A. Meloro, Greenberg Traurig LLP, Wilmington, DE, Annapoorni R. Sankaran, Holland & Knight LLP, Houston, TX for defendant.

    Case Number: D68544

    Stipulation between debtor and secured creditor required dismissal of bankruptcy trustee's avoidance action where transfers were made in ordinary course of business and parties would likely have no difficulty in collection at time of stipulation.

  • In re: SRC Liquidation LLC

    Publication Date: 2019-04-24
    Practice Area: Bankruptcy
    Industry: Accounting
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Chagares
    Attorneys: For plaintiff:
    for defendant:

    Case Number: D68535

    Breach of fiduciary duty against company controllers dismissed with prejudice where complainant could not establish that managers acted in bad faith in pursuing and consummating merger that allegedly led to debtor's financial difficulties.