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Publication Date: 2021-11-16
Practice Area: Bankruptcy
Industry: Construction | Real Estate
Court: U.S. Bankruptcy Court
Judge: Judge Sontchi
Attorneys: For plaintiff: Marcy J. Mclaughlin Smith, Troutman Pepper Hamilton Sanders LLP, Wilmington, DE; Gary W. Marsh, Troutman Pepper Hamilton Sanders LLP, Atlanta, GA; Brett D. Goodman, Troutman Pepper Hamilton Sanders LLP, New York, NY for debtor.
for defendant: Daniel A. O’Brien, Venable LLP, Wilmington, DE; Jeffrey S. Sabin, James E. Frankel, Gary L. Rubin, and Carol A. Weiner, Venable LLP, New York, NY for creditors.
Case Number: D69612
Involuntary bankruptcy petition dismissed as having been filed in bad faith, where petitioning creditors represented contractors holding mechanic's liens and the totality of the circumstances indicated that petitioners sought to avoid extinguishment of their claims in a related foreclosure action and instead litigate in the more favorable forum of the bankruptcy court.
Publication Date: 2021-11-02
Practice Area: Bankruptcy
Industry: Consulting | Insurance
Court: U.S. Bankruptcy Court
Judge: Judge Sontchi
Attorneys: For plaintiff: Lisa Bittle Tancredi, Gebhardt & Smith LLP, Wilmington, DE for Risk & Regulatory Consulting, LLC. Mark E. Felger, Barry M. Klayman, Gregory F. Fischer, Wilmington, DE for Jeoffrey L. Burtch, Chapter 7 Trustee.
for defendant: Eric D. Schwartz, Matthew B. Harvey, Paige N. Topper, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Pater Ivancik, Alex M. Sher, Hogan Lovells US LLP New York, NY for Atalaya Capital Management LLP, Atalaya Special Opportunities Fund VII LP and Midtown Madison Management LLC.
Case Number: D69596
The court held that the Bankruptcy Code was not reverse preempted by the Texas Insurance Code because the underlying dispute was a contract dispute, but not the business of insurance.
Publication Date: 2021-10-27
Practice Area: Bankruptcy
Industry: Manufacturing
Court: U.S. Bankruptcy Court
Judge: Judge Goldblatt
Attorneys: For plaintiff:
for defendant:
Case Number: D69585
In this adversary proceeding, the court found that the litigation trustee had met his burden in pleading plausible factual al-legations to show the court had subject-matter jurisdiction over the matter, personal jurisdiction over defendant, and had pled facts sufficient to state a claim for aiding and abetting breach of fiduciary duty.
Publication Date: 2021-10-27
Practice Area: Bankruptcy
Industry: Legal Services
Court: U.S. District Court of Delaware
Judge: District Judge Connolly
Attorneys: For plaintiff:
for defendant:
Case Number: D69588
Bankruptcy court properly sanctioned and disqualified special counsel where it failed to disclose the nature of its business structure and the fact that it had financial arrangements that were adverse to the interests of debtor clients regarding matters for which counsel had been retained.
Publication Date: 2021-10-20
Practice Area: Bankruptcy
Industry: Distribution and Wholesale
Court: U.S. Bankruptcy Court
Judge: Judge Stickles
Attorneys: For plaintiff:
for defendant:
Case Number: D69581
Breach of duty and loyalty claims were not dismissed where complaint alleged sufficient facts to support inference that directors and officers failed to fully inform them of risks of acquisition transaction, and may have declined an out-of-court restructuring when they failed to obtain personal benefit in the restructuring.
Law Journal Press | Digital Book
Authors: T. BART GARY, JAKE CARROLL
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Publication Date: 2021-10-06
Practice Area: Bankruptcy
Industry: Energy
Court: U.S. District Court of Delaware
Judge: District Judge Sontchi
Attorneys: For plaintiff: Maria Aprile Sawczuk, Steven Yachik, Goldstein & McClintock LLP, Chicago, IL; Steven Louis-Prescott, Hamre, Rodriguez Ostrander & Dingess, P.C., Denver, CO; Matthew D. Skeen, Jr., Skeen & Skeen, P.C., Denver, CO for plaintiffs.
for defendant: Marc R. Abrams, Richard W. Riley, Stephen B. Gerald, Whiteford, Taylor & Preston LLC, Wilmington, DE; Christopher Marcus, P.C., Allyson Smith Weinhouse, Ciara Foster, Kirkland & Ellis LLP, New York, NY; Anna Rotman, P.C.m Kenneth Young, Kirkland & Ellis LLP, Houston, TX for reorganized debtors.
Case Number: D69564
Bankruptcy court granted a motion to dismiss an adversary proceeding for lack of subject matter jurisdiction, because royalty claimants failed to exhaust their administrative remedies under state law.
Publication Date: 2021-09-29
Practice Area: Bankruptcy
Industry: Energy
Court: U.S. Bankruptcy Court
Judge: Judge Goldblatt
Attorneys: For plaintiff:
for defendant:
Case Number: D69554
The court denied a motion to stay an order confirming a plan of reorganization in bankruptcy, because the moving party failed to act promptly and did not demonstrate a likelihood of success on the merits.
Publication Date: 2021-09-22
Practice Area: Bankruptcy
Industry: Financial Services and Banking | Construction | State and Local Government
Court: U.S. Court of Appeals for the Third Circuit
Judge: Judge Phipps
Attorneys: For plaintiff:
for defendant:
Case Number: D69543
Proof of claim arising from unpaid contractor invoices properly dismissed where California law prohibited payment for unlicensed contractor work performed in the state.
Publication Date: 2021-09-08
Practice Area: Bankruptcy
Industry: Investments and Investment Advisory
Court: U.S. District Court of Delaware
Judge: District Judge Noreika
Attorneys: For plaintiff: Norman L. Pernick, G. David Dean, Patrick J. Reilley, Cole Schotz, PC, Wilmington, DE; Monica K. Loseman, Gibson, Dunn & Crutcher LLP, Denver, CO; Randy M. Mastro, Akiva Shapiro, Michael L. Nadler, Gibson, Dunn & Crutcher LLP, New York, NY; Michael G. Farag, Gibson, Dunn & Crutcher LLP, Los Angeles, CA for appellant.
for defendant: James L. Patton, Jr., Robert S. Brady, Michael R. Nestor, Joseph M. Barry, Ryan M. Bartley, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for debtors.
Case Number: D69533
Bankruptcy court properly interpreted a disputed term based on the plain language of the contract itself, so extrinsic evidence was not necessary.
Publication Date: 2021-08-25
Practice Area: Bankruptcy
Industry: Investments and Investment Advisory
Court: U.S. Bankruptcy Court
Judge: Judge Silverstein
Attorneys: For plaintiff:
for defendant:
Case Number: D69513
Certain tax distributions made by debtor were for reasonably equivalent value, so the court granted defendants' motion for summary judgment against the trustee's fraudulent transfer claims.
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