Highland Capital Makes Law Again, This Time on Bankruptcy Appellate Standing
The ‘possibility of harm’ won’t confer bankruptcy appellate standing, the Fifth Circuit says.
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‘Gatekeeping’ in the Fifth Circuit May Be Broader than Exculpations
Bankruptcy Judge Jernigan interprets the Fifth Circuit’s Highland Capital opinion to mean that gatekeeping protections are not limited to parties entitled to exculpation in the Fifth Circuit.
Crypto Lender Voyager's Customers Vote in Favor of Bankruptcy Plan
Customers of Voyager Digital voted in favor of the crypto lender's chapter 11 bankruptcy plan, the company said in a tweet yesterday, Reuters reported. Of those who participated in the voting, "97% of customers representing 98% of the total claims, voted in favor," the company said.
Fourth Circuit Says an Insurer Has No Right to Negotiate an ‘Asbestos’ Plan
The Fourth Circuit wrote a scholarly (and dense) opinion differentiating among bankruptcy standing, bankruptcy appellate standing and constitutional standing.
Sub V Plan Can Require Automatic Increases Based on Actual Disposable Income
A district judge in Florida upheld a Subchapter V plan that required automatic increases in payments to unsecured creditors based on actual disposable income.
Nonseverability Won’t Make a Confirmation Appeal Equitably Moot in the Fifth Circuit
When it comes to overbroad exculpations and nondebtor releases, a nonseverability clause in a chapter 11 plan won’t invoke equitable mootness to dismiss an appeal from confirmation.
Are Chapter 13 Creditors Entitled to Proceeds from a Post-Confirmation Tort Claim?
The Code and the Rules are unclear about a chapter 13 debtor’s obligation to disclose assets acquired post-petition that were not derived from income.
Pipeline Health Cleared to Exit Bankruptcy
El Segundo, Calif.-based hospital operator Pipeline Health System, which filed for chapter 11 protection on Oct. 2, has announced that its reorganization plan was confirmed by the U.S. Bankruptcy Court for the Southern District of Texas, the Los Angeles Business Journal reported. The slimmed-down company expects to emerge from bankruptcy sometime next month. During its time in chapter 11, Pipeline Health sold two Chicago-area hospitals that it had long been trying to offload. The company also submitted a restructuring plan that called for the elimination of $275 million in funded debt obligations and more than $55 million in unsecured liabilities. The bankruptcy exit, which was announced on Jan. 13, also involves some key personnel changes, including the chief executive post. Longtime Chief Executive Andrei Soran will step down on the day the company officially exits bankruptcy. Succeeding him in that post will be the current chief financial officer, Robert Allen, who has 25 years of experience as a local hospital executive.
