July 14, 2021
Being an ‘Officer’ Disqualifies Someone from a KERP, New York District Judge Says
Officers are presumptively disqualified from KERPs, “absent a strong showing that they do not perform any significant role in management,” a district judge in New York says.
2nd Circuit, New York, New York Southern DistrictJune 08, 2021
Federal Common Law Doesn’t Define a Business Trust Eligible for Chapter 11
Recent Supreme Court authority supports the conclusion by Delaware’s Judge Sontchi that law from the jurisdiction of incorporation, not federal common law, determines what is or isn’t a business trust eligible for chapter 11.
3rd Circuit, DelawareJanuary 11, 2021
Guarantee of a Lease Survives Rejection if the Tenant Remains in Possession
District judge explains why veil-piercing is easier to prove in Michigan than elsewhere.
6th CircuitJanuary 07, 2021
Dissolved Corporation May Not File to Reorganize in Chapter 11, Only to Liquidate
Dissolved by forfeit, a corporation cannot reinstate a charter and may resort to bankruptcy only to liquidate, Judge Eduardo Rodriguez says.
5th Circuit, Texas, Texas Southern DistrictDecember 01, 2020
A Zombie Was Sufficiently Alive to Make Affiliates Liable for ERISA Underfunding
The Eleventh Circuit makes federal common law to nail companies for a deceased affiliate’s pension underfunding.
11th CircuitDecember 02, 2019
First Circuit Explains How to Avoid Liability for an Underfunded Pension Plan
To avoid liability for an underfunded pension plan, the First Circuit describes a structure for investors to employ when buying a sick company
1st CircuitSeptember 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 CircuitJuly 24, 2019
Veto Right Made All Directors Liable for Bad Decisions by a Few Directors
Business judgment rule failed to protect directors of a Georgia bank for approving bad loans.
11th CircuitMay 14, 2019
Circuits Split on Bankruptcy Jurisdiction for Social Security, Medicare Suits
Fifth Circuit rejects the ‘recodification canon’ to divest bankruptcy courts of jurisdiction over Social Security suits.
5th CircuitAugust 29, 2018
A Receiver Can Bar the Old Board from Filing a Bankruptcy Petition
By removing the incumbent board, a receiver can bar the old board from filing a bankruptcy petition, the Ninth Circuit holds.
9th Circuit