A debtor is ineligible for bankruptcy in the Third Circuit if it cannot show that it is in financial distress. A debtor's mere forecast of blockbuster verdicts against it, or the "attenuated"...
The U.S. Court of Appeals for the Fifth Circuit held (a) the Minor Children had Article III standing to appeal from a bankruptcy court's decision denying their motion for a "comfort order" to...
The U.S. Court of Appeals for the Ninth Circuit held a district court abused its discretion in imposing a "docket management" stay on a securities class action lawsuit related to a pending...
In light of the answer of the California Supreme Court (CASC) to one certified state law question - "yes," section 1759 of the California Public Utilities Code (CPUC) preempts a negligence claim...
Judge(s):
Danny J. Boggs; John B. Owens; and Michelle T. Friedland
The Court of Appeals held that the bankruptcy court’s handling of approval of the settlement of class claims, “predicated on 28 U.S.C. § 1334(a) or (b), rather than in the court where the...
Judge(s):
Judge Edith H. Jones, Judge James C. Ho, and Judge Cory T. Wilson
The U.S. Court of Appeals for the Second Circuit held that 11 U.S.C.§§ 105(a) and 1123(b)(6), and prior Second Circuit authority, permit Purdue Pharma L.P. and related entities to include...
The bankruptcy case must be dismissed because the debtor is not in imminent financial distress.
In determining whether a case was filed in good faith, bankruptcy courts can look at the financial...
In a case so complex to require a timeline, the U.S. Court of Appeals for the First Circuit (Circuit) dismissed those aspects deemed moot without any merit review but affirmed the grant of summary...
Judge(s):
Gustavo Gelpí; Kermit V. Lipez; and O. Regeriee Thompson
Agreeing with Bestwall LLC (DR), a chapter 11 debtor in the U.S. Bankruptcy Court for the Western District of North Carolina (BC), that it had rightly invoked collateral estoppel, the U.S. Court of...
Judge(s):
Kent A. Jordan; Cheryl A. Krause; and David J. Porter
Years after Douglas Kelley (TR), liquidating trustee for Petters Company, Inc.,, secured a default judgment against Capital Strategies Fund, Ltd. (CS), a recipient of funds from the “infamous”...
Judge(s):
Amy J. St. Eve; Michael B. Brennan; and Michael Y. Scudder
