Corporate Governance

Liquidating Trustee Ousted for an Undisclosed Litigation Funding Agreement

The pricey litigation funding agreement had not been disclosed to creditors before confirmation.

Bestwall Concurrence Believes in ‘Liberalization’ of Bankruptcy Powers

The concurring opinion in Bestwall could be read to suggest that Circuit Judge G. Steven Agee might have an open mind if a confirmed plan comes to the Fourth Circuit on appeal.

Bestwall Dissenting Opinion Reads Like Dismissal of LTL Mgmt for a Bad Faith Filing

The Bestwall dissenter understands the Bankruptcy Clause as having the 18th century definition of ‘bankruptcy,’ thus requiring insolvency or inability to pay debts.

Fourth Circuit Rules on Jurisdiction, not ‘Financial Distress’ for a Chapter 11 Debtor

Fourth Circuit majority and dissenting opinions might be read to suggest that Bestwall could have tough sledding on an appeal from confirmation since the debtor is solvent.

Delaware’s Judge Silverstein Writes an Opinion with Stuff on Practice and Procedure

A trustee could sue on behalf of a dissolved Delaware corporation.

Maintaining Private-Equity Involvement and Funding When Their Initial Investment Is Underwater

Aug 2025

Limited Liability Company Debtor Cases

Distressed Corporate Governance

Second Circuit Updates with Bill Rochelle

Conversation with Judges About Today’s Hottest Topics