December 12, 2017

Courts Shifting to Say Corporate ‘S’ Status Is Not Property

Virginia judge sides with Third Circuit to hold that ‘S’ status is not a corporate debtor’s property.

4th Circuit, Virginia, Virginia Eastern District

October 31, 2017

Fifth Circuit Insulates Ds&Os for Authorizing Prebankruptcy Dividends and Bonuses

To avoid dismissal, a complaint must allege each officer’s acts that breached fiduciary duty.

5th Circuit

September 29, 2017

No New Bankruptcy Cases Have Been Added to Supreme Court Docket — Not Yet, at Least

Several cases are in the running for Supreme Court review this term or next.

Supreme Court

September 11, 2017

Receivership May Not Preclude a Board’s Ability to File Bankruptcy

A receiver who is not ‘disinterested’ can justify putting a company in bankruptcy.

3rd Circuit, Pennsylvania, Pennsylvania Western District

August 15, 2017

Existence of a Committee Precludes Tolling the Statute for Adverse Domination

The statute is tolled only if the creditors’ committee is denied standing to sue.

7th Circuit

August 14, 2017

Supreme Court Will Not Resolve Circuit Split on Recharacterization

A settlement prompts the high court to ditch a case deciding whether state or federal law governs recharacterization.

Supreme Court

August 08, 2017

Third Circuit Adopts High Standard for WARN Act Liability

Six circuits now require probability of layoffs as a condition to WARN Act liability.

3rd Circuit

June 28, 2017

Supreme Court to Decide on Choice of Law Governing Recharacterization

Supreme Court takes a third bankruptcy case for the term to begin in October.

Supreme Court

June 27, 2017

Supreme Court Takes a Third Bankruptcy Case for Next Term, on Recharacterization

Supreme Court

June 22, 2017

Split Sixth Circuit Bars Litigation Trustees from Suing on D&O Policies

Dissent proclaims a split of circuits and says the debtor and DIP are distinct entities.

6th Circuit