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National Law Journal

The Court in the Boy Scouts Bankruptcy Fails to Do Its Duty

The dynamics of this case illustrate the dangers posed by the intersection of bankruptcy law with the modern tort system.
6 minute read

Texas Lawyer

REJECTED: Oil and Gas Settlements Nixed Before US Fifth Circuit

"The vast majority of claimants in the Demchak and Brown-Suessenbach suits ... have no recourse in bankruptcy court for their pre-petition monetary claims," the Fifth Circuit concluded.
3 minute read

Law.com

No 'Valid Reorganization Purpose': Judge Dismisses 3M Unit's Earplug Bankruptcy

In a swift blow to 3M, U.S. Chief Bankruptcy Judge Jeffrey Graham, in Indianapolis, dismissed the Chapter 11 case of its subsidiary Aearo Technologies on Friday. "These cases were and are a litigation management tactic and not a rehabilitative effort," Graham wrote.
6 minute read

Delaware Business Court Insider

'They Could Be Penalized': FTX Bankruptcy to Remain in Delaware Control With Customer Names Sealed

U.S. Bankruptcy Judge John T. Dorsey of the District of Delaware said at the end of a hearing Friday that the decision is consistent with his goal of prioritizing creditors as the Chapter 11 process continues.
3 minute read

Delaware Business Court Insider

FTX Liquidators Say US Bankruptcy Court Needs to Work Alongside Bahamas in Weighing Assets

Liquidators said ssues with identifying FTX assets are governed by the laws of the Bahamas, England, and Antigua and Barbuda, and need to be addressed before the company is wound down.
3 minute read

Texas Lawyer

Weil Claims Victory for Serta Simmons

"Victory in the adversary proceeding and a judgment declaring the 2020 transaction valid were essential to confirmation of SSB's chapter 11 Plan of Reorganization," Weil said.
5 minute read

The Legal Intelligencer

Dilworth Paxson Elects First Female Co-Managing Partner

Trusts and estates partner Kristen Behrens will join litigation partner Patrick Northen, who has been in the role for the past five years.
4 minute read

The Legal Intelligencer

Electricity Still Not a Good Under Section 503(b)(9)

With this ruling, six bankruptcy court decisions from the District of Oregon, the Eastern District of Kentucky, the District of Delaware, the Northern District of Texas, and the Southern District of New York have held that electricity is not a "good" and does not qualify under Section 503(b)(9). The ruling can make the differences between being paid in full as opposed to pennies (if any) on the dollar.
6 minute read

The Recorder

As Tom Girardi Faces Prison, His Alleged Co-Conspirators Become Targets

The trustee of the Girardi Keese bankruptcy estate continues to pursue an investigation of California Attorney Lending II's owner, while Edelson alerted a federal judge to a former Girardi consultant's "suspicious and potentially improper" text message.
6 minute read

New York Law Journal

Trusts, Escrows and Property of the Estate (or Not)

The assets available to secured creditors in a debtor's bankruptcy proceeding must constitute "property of the estate" within the meaning of section 541(a)(1) of the U.S. Bankruptcy Code. However, creditors can sometimes find assets of a debtor outside the realm of a bankruptcy debtor's estate based on certain pre-bankruptcy arrangements. Examples of those arrangements are trusts and escrows. This column discusses two recent cases, "Markel Insurance Company v. Origin Bancorp, Inc.," and "In re: Urban Commons 2 West LLC," where federal courts held that a trust and escrow arrangement, respectively, were each insufficiently structured to protect the related assets from claims of creditors of the bankrupt debtor.
9 minute read

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