Kevin J. Carey

Sometimes, a Claim Purchaser Can’t File a Claim, Delaware Judges Say

Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.

Court :

3rd Circuit

Delaware

The Debtor or Trustee Control the Privileges of an Independent Audit Committee

As his parting shot, Judge Carey requires turnover of almost everything in the files of professionals for an independent audit committee.

Court :

3rd Circuit

Delaware

Creditors of LPs or LLCs Can’t Sue for Breach of Fiduciary Duty

Creditors lack standing in Delaware and other states for derivative liability suits against officers and managers of LPs and LLCs.

Court :

3rd Circuit

Delaware

Bankruptcy Code Preempts State Law Invalidating KERPs, Delaware Judge Says

A waiver in a KERP is enforceable even if it violates state labor law, Judge Carey rules.

Court :

3rd Circuit

Delaware

Fired Worker’s Entire Severance Claim Given Priority in Delaware by Judge Carey

Judge Carey distinguishes between administrative and priority claims for severance.

Court :

3rd Circuit

Delaware

Preference May Be Offset by an Unpaid Administrative Claim, Judge Carey Rules

Automatic disallowance under Section 502(d) held not applicable to administrative claims.

Court :

3rd Circuit

Delaware

Lender Can’t Use Corporate Structure to Waive a Company’s Right to File Bankruptcy

Delaware’s Judge Carey slams the door on waivers of the right to file chapter 11.

Court :

3rd Circuit

Delaware

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