• In re: HRB Winddown Inc.

    Publication Date: 2024-10-01
    Practice Area: Bankruptcy
    Industry: Consumer Products | Distribution and Wholesale | Retail
    Court: U.S. Bankruptcy Court
    Judge: Judge Shannon
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 19-12689 (BLS)

    Genuine issues of material fact precluded summary judgment in avoidance/recovery adversary action where debtors had obtained court approval to pay critical vendors but debtors paid substantially more than initially identified and evidence suggested defendant may have pressured debtors to make timely payments during preference period.

  • In re: Essar Steel Minnesota LLC

    Publication Date: 2024-09-17
    Practice Area: Bankruptcy
    Industry: Manufacturing | Mining and Resources
    Court: U.S. Bankruptcy Court
    Judge: Judge Goldblatt
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 16-11626 (CTG)

    Court found that defendant possessed monopoly power where it held over 70 percent of the relevant product/geographic market, which had high barriers to entry, and that defendant exercised that power through demanding long-term contracts and barring third parties from working with competitors.

  • In re: AIG Fin. Prods. Corp.

    Publication Date: 2024-09-10
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-11309-MFW

    No error in declining dismissal of bankruptcy petition where debtor was balance sheet insolvent and reasonably anticipated filing for bankruptcy absent reorganization.

  • In re: AmeriFirst Fin. Inc.

    Publication Date: 2024-08-27
    Practice Area: Bankruptcy
    Industry: Financial Services and Banking | Investments and Investment Advisory
    Court: U.S. Bankruptcy Court
    Judge: Judge Horan
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 23-11240 (TMH)

    Court authorized unsecured creditors committee to pursue fraudulent transfer claims against first-priority secured creditor where it allegedly forced debtor to concede financial control that the secured creditor used to obtain potentially avoidable transactions.

  • In re: Insys Therapeutics Inc.

    Publication Date: 2024-08-13
    Practice Area: Bankruptcy
    Industry: Legal Services | Pharmaceuticals
    Court: U.S. District Court of Delaware
    Judge: District Judge Williams
    Attorneys: For plaintiff: Derek C. Abbott, Matthew O. Talmo, Morris Nichols Arsht & Tunnell LLP, Wilmington, DE; Eric D. Madden, Reid Collins & Tsai LLP, Dallas, TX; Keith Y. Cohan, Ryan M. Goldstein, Morgan M. Menchaca, Reid Collins & Tsai LLP, Austin, TX for plaintiff.
    for defendant: Michael W. McDermott, Peter C. McGivney, Berger Harris LLP, Wilmington, DE; Richard C. Pedone, Brian T. Kelly, Nixon Peabody LLP, Boston, MA for defendant.

    Case Number: 19-11292 (JTD)

    Court determined that former officer was obligated to repay advanced legal expenses where he was ultimately convicted on a single racketeering conspiracy charge that included the same alleged predicate racketeering activities as the first indictment, undermining claims of partial success in the criminal prosecution.

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  • In re: BYJU's Alpha, Inc.

    Publication Date: 2024-07-30
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Noreika
    Attorneys: For plaintiff: Pieter Van Tol, Christoper R. Bryant, Elizabeth Carter, Hogan Lovells US, LLP, New York, NY; David Massey, Hogan Lovells US, LLP, Miami, FL; Evan T. Miller, Saul Ewing LLP, Wilmington, DE; Turner N. Falk, Saul Ewing LLP, Philadelphia, PA for appellants.
    for defendant: Susheel Kirpalani, Benjamin Finestone, William B. Adams, Daniel Holzman, Jianjian Ye, Quinn Emanuel Urquhart & Sullivan LLP, New York, NY; Robert S. Brady, Kenneth J. Enos, Jared W. Kochenash, Timothy R. Powell, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE; George W. Hicks, Jr., Kirkland & Ellis LLP, Washington, DC; Seth M. Cohen, Kirkland & Ellis LLP, San Francisco, CA; Patrick J. Nash, Jr., Kirkland & Ellis LLP, Chicago, IL; Brian Schartz, Kirkland & Ellis LLP, New York, NY; Laura Davis Jones, Peter J. Keane, Pachulski Stang Ziehl & Jones LLP, Wilmington, DE for appellees.

    Case Number: 2410140 (JTD)

    Court denied stay of bankruptcy court contempt and preliminary injunction orders pending appeal where defendants were unlikely to succeed on the merits of their claims against the orders and where the orders would not irreparably harm defendants by requiring them to produce ordered discovery or merely preventing them from transferring or using claimed funds under their control.

  • In re: FTX Trading Ltd.

    Publication Date: 2024-07-09
    Practice Area: Bankruptcy
    Industry: Accounting | E-Commerce | Technology Media and Telecom
    Court: U.S. Bankruptcy Court
    Judge: Judge Dorsey
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 22-11068 (JTD)

    Court developed methodology to discount value of cryptocurrencies where most of the tokens were held by debtor, which had restricted the trading market to artificially inflate the market price.

  • In re: Samson Res. Corp.

    Publication Date: 2024-06-03
    Practice Area: Bankruptcy
    Industry: Energy | Investments and Investment Advisory
    Court: U.S. District Court of Delaware
    Judge: District Judge Hall
    Attorneys: For plaintiff: J. Christopher Shore, Colin T. West, White & Case LLP, New York, NY; Michael J. Farnan, Farnan LLP, Wilmington, DE for appellant.
    for defendant: Daniel M. Stern, Samuel M. Kidder, KTBS Law LLP, Los Angeles, CA; Andrew J. Gallo, Nathaniel P. Bruhn, Morgan, Lewis & Bockius LLP, Boston, MA; Bryan Killian, Morgan, Lewis & Bockius LLP, Washington, DC; Michael R. Nestor, Michael S. Neiburg, Young Conaway Stargatt & Taylor, LLP, Wilmington, DE for appellees.

    Case Number: 15-11934 (BLS)

    Court denied certification of direct appeal of bankruptcy order to the Third Circuit where the order did not announce a per se rule or conflict with settled precedent.

  • In re: Zohar III Corp.

    Publication Date: 2024-05-13
    Practice Area: Bankruptcy
    Industry: Investments and Investment Advisory
    Court: U.S. Court of Appeals for the Third Circuit
    Judge: Judge Chagares
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 23-2549

    Settlement agreement arising from bankruptcy mediation did not evidence the parties' intent to waive confidentiality protections under local bankruptcy rules.

  • In re: OPP Liquidating Co., Inc.

    Publication Date: 2024-04-22
    Practice Area: Bankruptcy
    Industry: Manufacturing
    Court: U.S. Bankruptcy Court
    Judge: Judge Walrath
    Attorneys: For plaintiff:
    for defendant:

    Case Number: 19-10729 (MFW)

    Bankruptcy court dismissed adversary proceeding alleging breaches of fiduciary duties as time barred where trustee failed to present evidence of defendants' affirmative acts of fraudulent concealment of material information from the board to support tolling the statute of limitations.