September 19, 2019
Sometimes, a Claim Purchaser Can’t File a Claim, Delaware Judges Say
Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.
3rd Circuit, DelawareSeptember 18, 2019
New Jersey Tax Foreclosures Can Be Preferences, Third Circuit Rules
Although a foreclosure sale can be immune from fraudulent transfer attack, a tax foreclosure not based on the value of the property can be a preference.
3rd Circuit, New JerseyJuly 23, 2019
Delaware District Court Doesn’t Want 2,400 Johnson & Johnson Talcum Powder Suits
The Pacor test for ‘related to’ jurisdiction isn’t so broad when it comes to indemnification agreements.
3rd Circuit, DelawareJuly 03, 2019
The Debtor or Trustee Control the Privileges of an Independent Audit Committee
As his parting shot, Judge Carey requires turnover of almost everything in the files of professionals for an independent audit committee.
3rd Circuit, DelawareJuly 02, 2019
Third Circuit Expands the Flexible Notion of ‘Finality’ on Bankruptcy Appeals
The Third Circuit’s new opinion on ‘finality’ will be cast in doubt depending on how the Supreme Court rules in Ritzen.
3rd CircuitJune 25, 2019
Intercreditor Agreement Didn’t Apply to Plan Distributions, Third Circuit Holds
The Third Circuit wrote an important decision on distributing collateral under an intercreditor agreement, but it wasn’t precedential.
3rd CircuitJune 13, 2019
A Nonparty’s Bankruptcy Isn’t Providing Ground for Removal to Federal Court
The right of indemnification by a bankrupt isn’t establishing ‘related to’ jurisdiction in federal court.
3rd Circuit, Pennsylvania, Pennsylvania Eastern DistrictMay 22, 2019
‘Earmarking’ Only Applies When a Debtor Receives a Loan from a Third Party
Money taken from a debtor’s own retirement account to pay a creditor does not qualify for the earmarking defense, Chief Judge Fehling says.
3rd Circuit, Pennsylvania, Pennsylvania Eastern DistrictMay 17, 2019
Discretionary Bonuses Are Not Per Se Fraudulent Transfers
Discretionary bonuses by an insolvent employer are not automatically fraudulent transfers, Judge Silverstein says.
3rd Circuit, DelawareMay 09, 2019
Creditors of LPs or LLCs Can’t Sue for Breach of Fiduciary Duty
Creditors lack standing in Delaware and other states for derivative liability suits against officers and managers of LPs and LLCs.
3rd Circuit, Delaware