December 20, 2022
Arguments Both Ways, Power to De-Designate from Subchapter V Left Undecided
Although deposed as debtor in possession, the Subchapter V debtor retains the sole power to file a chapter 11 plan.
3rd Circuit, DelawareDecember 09, 2022
Third Circuit Importuned to Rule on Survival of the Solvent-Debtor Exception
Sticking to her guns, Bankruptcy Judge Mary Walrath rules that the solvent-debtor exception was abrogated by the adoption of the Bankruptcy Code, but certifies a direct appeal to the Court of Appeals.
3rd Circuit, DelawareAugust 17, 2022
A ‘Notwithstanding’ Clause May Not Control a Specific Provision, District Judge Says
An appeal to the Third Circuit may tell us whether a ‘notwithstanding any other provision’ clause really means what it says.
3rd Circuit, DelawareJuly 11, 2022
Delaware Judge Approves ‘Uptier’ Financing that Involuntarily Subordinated Debt
Bankruptcy Judge Craig T. Goldblatt declined to interpret an indenture’s ratable treatment clause as anti-subordination in disguise.
3rd Circuit, DelawareJune 24, 2022
Delaware Supreme Court: No ‘Insolvency Exception’ for Asset Sales
Delaware corporations must have shareholder approval to sell all or substantially all assets outside of bankruptcy.
3rd Circuit, DelawareJune 21, 2022
Judge Walrath Describes Due Diligence to Plead After the Amendment to Section 547(b)
The amendment to Section 547(b) does not require a preference complaint to explain why the defendant doesn’t have affirmative defenses, Judge Walrath says.
3rd Circuit, DelawareApril 01, 2022
Delaware District Judge Says: Don’t Use ‘Nunc Pro Tunc’ When You Mean ‘Retroactive’
Submitting a retention order with the wrong word resulted in a pivotal issue on appeal.
3rd Circuit, DelawareMarch 15, 2022
To Be a Section 544(b)(1) Predicate Claim for a 10-Year Lookback, the Claim Must Be Filed
A claim of the IRS can provide a 10-year lookback for avoidance actions, but the claim must have been filed.
3rd Circuit, DelawareFebruary 23, 2022
Special Counsel with an Actual Conflict Faces Disgorgement of Fees in Delaware
Judge Sontchi set aside a prior order preventing the trustee from controlling litigation brought in the trustee’s name.
3rd Circuit, DelawareFebruary 09, 2022
Horizontal ‘Gifting’ Approved in Mallinckrodt’s Confirmed Chapter 11 Plan
Mallinckrodt’s nondebtor releases didn’t have the defects that infected Purdue and Patterson.
3rd Circuit, Delaware