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New York Southern District

Opt-Out Plan Confirmed with Impaired Creditors Almost Unanimous in Support

In the Spirit Airlines reorganization, no creditors with an economic interest had opposed confirmation of a plan with opt-out releases for nondebtors.

2nd Circuit
New York
New York Southern District

Bankruptcy Judge Rejects a District Court’s Narrow View of Sales Free and Clear

New York’s Judge Philip Bentley interpreted Section 363(f)(5) to permit a sale free and clear whenever a creditor could conduct a foreclosure or a UCC sale.

2nd Circuit
New York
New York Southern District

New York Judge Devises a Flexible Remedy to Deal with Repeated Bad Faith Filings

New York’s Judge Philip Bentley and Prof. Robert Lawless urge Congress to adopt the ABI Commission’s recommendations for dealing with bad faith filings.

2nd Circuit
New York
New York Southern District

Texaco’s 1988 Confirmation Didn’t Kill Environmental Suits Decades Later

New York’s Bankruptcy Judge David Jones reopened Texaco’s 1988 bankruptcy to ensure that state courts wouldn’t mistakenly decide that environmental claims were discharged

2nd Circuit
New York
New York Southern District

Purdue Doesn’t Preclude Injunctions from Protecting Nondebtors for the Life of a Plan

New York’s Judge John Mastando saw no reason a Subchapter V plan couldn’t enjoin lawsuits against nondebtors for the life of a five-year plan.

2nd Circuit
New York
New York Southern District

A Foreign Branch of an FDIC-Insured U.S. Bank Remains Ineligible for Chapter 15

The district court affirmed the holding by Bankruptcy Judge Martin Glenn that a foreign branch of a U.S. bank isn’t eligible for chapter 15.

2nd Circuit
New York
New York Southern District

Barton Halted Third Parties from Suing in an Allegedly Better Forum

When third parties sued a trust created by a confirmed chapter 11 plan, Judge Garrity declined to invent any new exceptions to the Barton doctrine.

2nd Circuit
New York
New York Southern District

Purdue Preliminary Injunction Protecting Nondebtors Upheld on Appeal

The same district judge who correctly predicted that Purdue’s nonconsensual releases were prohibited has nonetheless upheld a preliminary injunction barring suits against nondebtors.

2nd Circuit
New York
New York Southern District

Purdue Creditors Given Derivative Standing to Sue the Sacklers

Bankruptcy Judge Sean Lane says that Delaware corporate law can’t prevent committees from having derivative standing.

2nd Circuit
New York
New York Southern District

Proceedings on a Confession of Judgment Can’t Be Removed as ‘Related To’

At least in New York, proceedings on a confession of judgment are neither a ‘claim’ nor a ‘cause of action’ and can’t be removed under 28 U.S.C. § 1452(a).

2nd Circuit
New York
New York Southern District
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