August 27, 2018

A Plan Can Release Claims for Post-Confirmation Conduct, Third Circuit Says

Third Circuit leaves open the question of whether distributions to shareholders in chapter 11 must follow FINRA rules.

3rd Circuit

July 09, 2018

U.S. Trustee Criticized for Dumping the ‘Jay Alix Protocol’

New York bankruptcy judge approves retention of a crisis manger under Section 363(b) who might be disqualified under Section 327(a).

2nd Circuit, New York, New York Southern District

May 24, 2018

Fifth Circuit Issues a Narrow Opinion Requiring Corporate Authority to File a Petition

The appeals court avoids ruling broadly on the ability of a golden share or blocking provision to bar a company from filing bankruptcy voluntarily.

5th Circuit

April 30, 2018

Non-Bankrupt Nonprofit Entities Are Not Subject to Substantive Consolidation

Eighth Circuit insulates parishes and church schools from substantive consolidation.

8th Circuit

January 25, 2018

The Validity of a ‘Golden Share’ to Bar a Filing Goes to the Fifth Circuit

The Fifth Circuit is being asked to decide whether loan structuring can prevent a borrower from filing bankruptcy.

5th Circuit, Mississippi, Mississippi Southern District

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