Rochellel's Daily Wire

November 26, 2024

Class Action Commonality Justifies an ‘Opt Out’ Plan for Nondebtor Releases

With an exception, cases after Purdue are pointing toward approval of nondebtor releases where creditors are only allowed to opt out.

2nd Circuit, New York, New York Northern District

November 25, 2024

Purdue Creditors Given Derivative Standing to Sue the Sacklers

Bankruptcy Judge Sean Lane says that Delaware corporate law can’t prevent committees from having derivative standing.

2nd Circuit, New York, New York Southern District

November 22, 2024

Proceedings on a Confession of Judgment Can’t Be Removed as ‘Related To’

At least in New York, proceedings on a confession of judgment are neither a ‘claim’ nor a ‘cause of action’ and can’t be removed under 28 U.S.C. § 1452(a).

2nd Circuit, New York, New York Southern District

November 15, 2024

Sub V Trustee in Chapter 11 Can’t Be Enlisted to Pursue Avoidance Actions

District judge decides that an individual debtor has standing to appeal conversion from Subchapter V of chapter 11 to chapter 7.

2nd Circuit, New York, New York Southern District

October 17, 2024

No More Injunctions Barring Suits Against Nondebtors in a Diocese Sexual Abuse Case

An opinion by Bankruptcy Judge Carl L. Bucki might be read, incorrectly, to mean that Purdue precludes preliminary injunctions stopping suits against nondebtors.

2nd Circuit, New York, New York Western District

October 11, 2024

Giving Inferior Classes Nothing May Not by Itself Amount to ‘Fair and Equitable’

Conducting a valuation hearing on a cramdown plan isn’t always required.

2nd Circuit, New York, New York Southern District

September 04, 2024

Upstate New York Bankruptcy Judge Nixes an ‘Opt-Out’ Plan with Nondebtor Releases

After Purdue, bankruptcy judges are now split on whether mass-tort plans are permissible if creditors must opt out.

2nd Circuit, New York, New York Western District

August 21, 2024

New York Court Holds that ‘Future’ Asbestos Claims Can Be Discharged Without a Trust

Professors disagree on whether latent asbestos claims can be discharged without a trust for future claimants.

2nd Circuit, New York, New York Southern District

August 14, 2024

Preserving Defensive Setoff Rights Doesn’t Require Filing a Claim, Judge Glenn Says

Defensive setoff rights are not discharged by chapter 11 confirmation, even when no proof of claim was filed.

2nd Circuit, New York, New York Southern District

July 17, 2024

Established Law Pointed Judge Lane Toward Dismissing Giuliani’s Chapter 11 Case

New York’s Judge Sean Lane saw no reason for forcing holders of a $148 million defamation judgment ‘to wait years’ for a ‘modest distribution.’

2nd Circuit, New York, New York Southern District