The district judge who excoriated Jackson Walker in a decision last year will now decide whether the firm must disgorge what it was paid in dozens of large chapter 11 cases.
A bankruptcy judge in San Antonio disagreed with two bankruptcy judges in Houston by holding that a nonvoting class is equivalent to rejecting a plan in Subchapter V of chapter 11.
Houston’s Bankruptcy Judge Christopher Lopez decided that the newest plan by a Johnson & Johnson subsidiary didn’t qualify for nondebtor releases permissible in asbestos cases.
Wage claims and claims of critical vendors paid under ‘first day orders’ are counted toward the Subchapter V debt cap that’s rising on April 1 to about $3.4 million.
Fancy drafting by ‘brilliant financiers and lawyers,’ the judge said, didn’t validate an uptier transaction when the ‘effect’ was to release collateral without a two-thirds vote.
The bankruptcy judge in Houston denied the U.S. Trustee’s motion to quash deposition subpoenas in the fight over disgorgement of fees for failure to disclose an allegedly close relationship between the judge and a firm lawyer.
A district court in Houston denied a motion to dismiss a confirmation appeal as equitably moot, although reversal might alter ownership of the reorganized debtor.
When a DIP sues a former officer, the bankruptcy ‘exception’ in a D&O policy provides coverage when the ‘insured vs. insured’ exclusion would otherwise deny coverage.
In the first opinion on the issue after Purdue, Bankruptcy Judge Christopher Lopez holds that Purdue did not change Fifth Circuit law where ‘hundreds’ of ‘opt-out’ plans have been confirmed with nondebtor releases.
