In a case pitting a surety that had secured the completion of a project for the U.S. upon the default of the debtors (DRs) per a performance bond against the DRs' first lien creditor, the Third...
Judge(s):
D. Brooks Smith; Paul B. Matey; and D. Michael Fisher
The bankruptcy court had jurisdiction over the State of California and a California commission (the "California Parties") to determine whether the California Parties owed funds to the...
The Third Circuit Court of Appeals affirmed the District Court and the Bankruptcy Court's decision that certain "Investment Agreements" were not "Purchased Assets" assigned to Spyglass Media Group,...
"Mutuality," as that term is used in 553 of the Bankruptcy Code, is a distinct statutory requirement that cannot be expanded by contractual or state law concepts of setoff. "Mutuality" means only...
Section 1129(b)(1) of the Bankruptcy Code supplants strict enforcement of subordination agreements among creditors, and reduction of less than one percent in the recovery to a dissenting class did...
First, the Court reversed the Bankruptcy Court's finding that appellant was entitled to a contingent fee award for objecting to a derivative action settlement and thereby improving the outcome, and...
The Third Circuit affirmed the Bankruptcy Court's ruling confirming Debtors' plan that did not include a 524(g) trust for latent asbestos claims, holding that applying Rule 3003(c)(3) complies with...
Judge(s):
KRAUSE and MATEY (Circuit Judges) and ALEJANDRO (District Judge sitting by designation)
Where the sole owner of a bankruptcy company pledged his "2015 Federal tax refund" as collateral for a debtor-in-possession loan in a Chapter 11 case, the Third Circuit affirmed the bankruptcy...
(1) A Bankruptcy Court's determination of good faith regarding an obligatory post-default valuation of collateral receives mixed review on appeal. Factual findings are reviewed for clear error...
The Third Circuit held the Bankruptcy Court had constitutional authority to confirm a reorganization plan containing third party releases of RICO/fraud claims by a lender against the debtor's...
