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.