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Saying she is in the minority in her district, a new Delaware judge ruled that allowing creditors to opt out won’t permit a plan to impose nonconsensual, third-party releases.
Third Circuit also holds that turnover in Section 542(a) is not automatic. The debtor must mount an adversary proceeding to obtain a turnover of property.
Negotiating a prepackaged asbestos plan and having been paid by the debtor does not disqualify a future claimants’ representative under the disinterestedness standard.
Although Florida permits practicing law under a fictitious name, the Bankruptcy Rules are more rigorous and require full disclosure, new Delaware judge says.
