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ABI Journal

Business Reorganization

For an Individual Chapter 11 Debtor, the Usual Retention Rules Don’t Always Apply

When retention benefits the chapter 11 debtor individually but not the estate, Bankruptcy Judge Christopher Bradley believes that compensation is not subject to approval under Section 330.

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

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.

Judge Oldshue Splits with Two Circuits: No Nondischargeability for Sub V Corporations

The bankruptcy judge in Pensacola, Fla., is giving the Eleventh Circuit an opening to split with the Fourth and Fifth Circuits.

In Stalking Horse Sales, Courts Have Flexibility to Reopen Bidding After the Deadline

The debtor’s duty to land the best price for an asset can overcome the winning bidder’s expectation that sale procedures will be enforced rigorously.