Houston’s Bankruptcy Judge Christopher Lopez decided that the newest plan by a Johnson & Johnson subsidiary didn’t qualify for nondebtor releases permissible in asbestos cases.
A district court in Florida upheld Bankruptcy Judge Peter Russin in holding that substantive consolidation does not require an adversary proceeding, a summons or a complaint.
When a DIP sues a former officer, the bankruptcy ‘exception’ in a D&O policy provides coverage when the ‘insured vs. insured’ exclusion would otherwise deny coverage.
The ‘attenuated possibility of insolvency’ in the future does not establish ‘financial distress,’ Circuit Judge Ambro said, interpreting his own prior opinion.
