January 07, 2020
Second Circuit Again Applies the ‘Safe Harbor’ to Protect Selling Shareholders in an LBO
The Supreme Court’s Merit Management opinion fails to persuade the Second Circuit to change the result in Tribune.
2nd CircuitDecember 30, 2019
Third Circuit Issues an Important Decision on Liquidation of Repo ‘Credit Enhancements’
Appeals court upholds finding that the mortgage securities market in 2007 was declining, not dysfunctional.
3rd CircuitNovember 21, 2019
Receivership Court May (Sometimes) Bar the Filing of an Involuntary Bankruptcy
Court weighs the relative advantages of receivership versus bankruptcy in deciding whether to bar the filing of an involuntary bankruptcy.
7th Circuit, Illinois, Illinois Northern DistrictSeptember 27, 2019
Proceeds of Exempt Property Retain Exempt Status in Chapter 7, District Judge Says
District judge in Maine follows the Fifth Circuit by ruling that the post-petition sale of exempt property does not destroy the exempt status of the proceeds.
1st Circuit, MaineSeptember 23, 2019
Circuit Finds No Successor Liability from Buying Assets and Continuing the Business
Continuing the business after buying the assets from the lender at a foreclosure sale doesn’t bring successor liability.
8th CircuitSeptember 03, 2019
Section 363 Doesn’t Apply to Asset Sales in a Chapter 11 Plan, Judge Garrity Rules
Section 363(o) claims nonetheless must be counted in deciding whether a chapter 11 plan passes the best interests test.
August 12, 2019
In a Bankruptcy Sale, ‘Takings’ Claims Kick in Early
Federal Circuit upholds dismissal of regulatory ‘takings’ claims against New GM.
Federal CircuitAugust 05, 2019
Shareholders Lack Standing to Appeal in Fifth Circuit, District Judge Holds
Reasonableness of breakup fee is measured by the total contract price, not the amount retained by the debtor.
July 03, 2019
Supreme Court Denied ‘Cert.’ on Termination of Retiree Benefits
The Eleventh Circuit had held that coal producers can sell assets and insulate the buyer from liability for paying retirees’ health benefits.
Supreme CourtJune 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 Circuit