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After almost three years in chapter 11 without a consensual plan, Bankruptcy Judge Warren is allowing sexual abuse claimants to sue nondebtor parishes and schools.
The Second Circuit says that an initial ‘recipient’ isn’t automatically an initial ‘transferee’ liable for an avoidable transfer under Section 550(a)(1).
The first court of appeals to reach the issue decides that the SBA properly interpreted the CARES Act to bar chapter 11 debtors from receiving PPP ‘loans.’
At the risk of committing error, a district judge in New York reads a third-party release to cover only derivative claims, not direct claims that a creditor may have against a nondebtor.
