Practice and Procedure

Circuit Says Retaining Jurisdiction Not Required to Impose Fees Under Section 303(i)

Motions for fees must be made within 14 days of the entry of judgment.

Fifth Circuit Tells Us What Ritzen and Travelers Mean and Don’t Mean

To revisit denial of a lift-stay motion, the prior order denying modification of the stay isn’t required to say ‘without prejudice.’

A Decision About What’s Equitable Is Difficult to Overturn on Appeal, Circuit Says

The district court shouldn’t have substituted its own judgment for the bankruptcy court’s conclusion about what’s equitable, Tenth Circuit says.

A Bankruptcy Case on Rule 60(b) Could End Up in the Supreme Court Next Term

Deciding a bankruptcy appeal, the Sixth Circuit deepened an existing circuit split on time limitations for Rule 60(b)(4) motions.

Oversight Roles

Rule 2014: Beyond “Disclose, Disclose, Disclose”

Consensual Releases for Sec. 327 Professionals, Committee Members,Trustees and Other Case Administrators In the aftermath of Purdue Pharmaceuticals it is clear that non-debtors releases in reorganization plans under chapter 11 and, most likely Chapter 12, require the releases to be "consensual." This invokes general principals of contract law which require, inter alia, consideration for the releases. Insiders, like the Sacklers in Purdue, can contribute cash or equity. Insurers, guarantors, and similar parties can similarly fund the releases. However, it is not clear how administrative persons can contribute "consideration" for releases especially where Secs. 326-31 largely govern types of claims that might be asserted against these persons. The Barton doctrine also provides a framework for asserting claims against many of these persons and an obligation for the court to raise claims against such persons even if her parties in interest do not.

Given the pre-Purdue inclusion of boilerplate provisions in many plans for releases of the various counsel and other case administrators, the issue arises under Purdue whether or not such releases are possible post-Purdue and how that might be obtained if they are possible. In a post-Purdue world, counsel, other professionals and committees in reorganization cases may well face significant increased exposure to claims and liability where they may not be able to obtain releases for such claims and liability. Strategies to deal with this change are of obvious import to those attendees and those professionals they deal with in the course of reorganization cases, particularly those in which there is dissatisfaction with these individuals' actions. E.g, The Asarco case in which the reorganized debtor sued its predecessor's former counsel. Business Suggested Speakers Leo Weiss leoweiss@ecentral.com Retired, formerly with he U.S. Trustee Program