A ‘Notwithstanding’ Clause May Not Control a Specific Provision, District Judge Says
An appeal to the Third Circuit may tell us whether a ‘notwithstanding any other provision’ clause really means what it says.
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Delaware Judge Approves ‘Uptier’ Financing that Involuntarily Subordinated Debt
Bankruptcy Judge Craig T. Goldblatt declined to interpret an indenture’s ratable treatment clause as anti-subordination in disguise.
Delaware Supreme Court: No ‘Insolvency Exception’ for Asset Sales
Delaware corporations must have shareholder approval to sell all or substantially all assets outside of bankruptcy.
Judge Walrath Describes Due Diligence to Plead After the Amendment to Section 547(b)
The amendment to Section 547(b) does not require a preference complaint to explain why the defendant doesn’t have affirmative defenses, Judge Walrath says.
Delaware District Judge Says: Don’t Use ‘Nunc Pro Tunc’ When You Mean ‘Retroactive’
Submitting a retention order with the wrong word resulted in a pivotal issue on appeal.
To Be a Section 544(b)(1) Predicate Claim for a 10-Year Lookback, the Claim Must Be Filed
A claim of the IRS can provide a 10-year lookback for avoidance actions, but the claim must have been filed.
Special Counsel with an Actual Conflict Faces Disgorgement of Fees in Delaware
Judge Sontchi set aside a prior order preventing the trustee from controlling litigation brought in the trustee’s name.
Horizontal ‘Gifting’ Approved in Mallinckrodt’s Confirmed Chapter 11 Plan
Mallinckrodt’s nondebtor releases didn’t have the defects that infected Purdue and Patterson.
Dependence on Parental Financial Assistance Meant Student Loans Were Dischargeable
The opinion by Judge Silverstein contains numerous sound bites for judges and debtors aiming to discharge student loans owed by individuals living in desperate circumstances.
Opinion Finding Fraud Shows the Dangers in an Agreement to Finance Litigation
Chapter 7 trustee was precluded from terminating a lawsuit because a secured lender had been given the right to settle.