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Bestwall Dissenting Opinion Reads Like Dismissal of LTL Mgmt for a Bad Faith Filing

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Richard Epling

When Congress passed the Bankruptcy Code in 1978 chapter 11 was intentionally designed to persuade debtors with prospective distress to file early before reorganization could become impossible. Thus the concept of insolvency was stretched to a degree that the Founders did not contemplate, but which is a socially useful tenet of modern bankruptcy law. The Bestwall case strikes me as a bad faith filing since no one apparently claimed the debtor or its parent were in distress.
Fri, 2025-08-08 13:56 Permalink
David Kuney

This is likely to be the case of the century. I just read the amicus brief filed by a group of law professors--Tony Cassey, et al. I'm not sure I agree with him, but the brief is brilliant and may have been very influential in the decision by the 4th circuit.
Mon, 2025-08-11 15:59 Permalink