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Creditors' Committees May Pursue Derivative Avoidance Actions
In a highly anticipated decision, a divided en banc 3rd Circuit panel ruled that a creditors' committee in a Chapter 11 case can be authorized by the bankruptcy court to pursue a lawsuit that the debtor itself opted not to. The court rejected the argument that the Bankruptcy Code specifically limits the power to bring such suits to bankruptcy trustees. But the dissenters said the decision directly conflicts with U.S. Supreme Court case law.What Will Black Be Arguing in His Criminal Appeal?
Having been acquitted of most of the counts in the original criminal indictment that he faced, Lord Conrad Black has filed motions in the U.S. District Court to appeal his convictions on three counts of mail fraud and one count of obstruction of justice. Black is asking that his trial judge either acquit him or order a new trial. Attorney Raphael Grunfeld discusses Black's convictions and outlines the issues he will be arguing on appeal.Creditors' Committees May Pursue Derivative Avoidance Actions
In perhaps the most anticipated bankruptcy decision so far this year, a divided Third U.S. Circuit Court of Appeals ruled last Thursday that a creditor's committee in a Chapter 11 case can be authorized to pursue a lawsuit that the debtor itself opted not to take up.International Environmental Law
examines the enforcement of environmental impact assessment mitigation commitments by international financial institutions and the European Union and then suggests three alternative approaches to improve both the monitoring and enforcement of those commitments and, by extension, the effectiveness of the EIA process.Guilty Plea Signals Big Break in Case Against Enron
The admission in court Tuesday by a senior auditor at Arthur Andersen LLP that he broke the law destroying documents in Enron`s collapse gives U.S. prosecutors a powerful tool in the broadening financial investigation, legal experts said.Trending Stories
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