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ABI Journal

1129

On Remand from the Supreme Court in Truck Ins., Fourth Circuit Upholds Confirmation

Fourth Circuit says there’s nothing in the Bankruptcy Code requiring ‘anti-fraud’ provisions in a mass tort chapter 11 plan. The appeals court also holds that an ‘asbestos’ plan isn’t filed in bad faith when the plan gives an insurer no more rights than the insurer has under its policy.

Plan Confirmation Denied for Too Little Post-Confirmation Supervision by the Court

Bankruptcy Judge Littlefield insisted on supervision of post-confirmation legal fees when there was to be a ‘litany of litigation’ after confirmation.

Texas Courts Are Split on Ignoring Nonvoting Classes in Confirming a Sub V Plan

A bankruptcy judge in San Antonio disagreed with two bankruptcy judges in Houston by holding that a nonvoting class is equivalent to rejecting a plan in Subchapter V of chapter 11.