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Delaware

Federal Common Law Doesn’t Define a Business Trust Eligible for Chapter 11

Recent Supreme Court authority supports the conclusion by Delaware’s Judge Sontchi that law from the jurisdiction of incorporation, not federal common law, determines what is or isn’t a business trust eligible for chapter 11.

3rd Circuit
Delaware

Jevic Rises from the Dead to Bar Claims Brought Originally by the Creditors’ Committee

Not having challenged pre-petition liens on time, a chapter 7 trustee was barred from taking over an adversary proceeding initiated by a now-dissolved chapter 11 creditors’ committee.

3rd Circuit
Delaware

No Disqualification When Lawyers at Adversary Firms Were Dating

Delaware bankruptcy judge trusts that dating lawyers at adversary firms didn’t disclose client confidences.

3rd Circuit
Delaware

Pursuing Appointment as a Future Claims Representative Isn’t Compensable in Delaware

Pursuing appointment benefitted the professional career of the applicant and did not benefit the estate, Judge Silverstein said.

3rd Circuit
Delaware

A Credit Bid Doesn’t Cap the Value of a Secured Lender’s Collateral

Delaware district judge holds that the final bid at auction, not the lender’s last credit bid, fixes the value of the lender’s collateral.

3rd Circuit
Delaware

University Medical Unscathed After Denby-Peterson, Delaware District Judge Says

The government lost a winnable appeal by failing to present evidence in bankruptcy court.

3rd Circuit
Delaware

Undisclosed Fee Sharing Results in Disqualification and Disgorgement in Delaware

Since they weren’t bankruptcy lawyers, the firm wasn’t disqualified for the first nondisclosure offense. The second time, Delaware’s Judge Dorsey ordered disqualification and disgorgement

3rd Circuit
Delaware

Federal Income Taxes for a ‘Straddle Year’ Are Administrative Priority Claims

On an issue with no appellate authority, a Delaware district judge rules that federal income taxes are administrative claims if filing occurs before the year’s end.

3rd Circuit
Delaware

Suit by Foreign Liquidators Was Remanded to State Court

Delaware district judge permits remand when the suit was subject to mandatory abstention.

3rd Circuit
Delaware

Delaware District Court Upholds Discharge of Environmental Fines in Chapter 11

Environmental fines are discharged in chapter 11 because they do not result from pecuniary loss.

3rd Circuit
Delaware
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