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.
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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.
Judge Name - Do not use it.
Kevin J. Carey
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.
Judge Name - Do not use it.
Kevin J. Carey
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.
Judge Name - Do not use it.
Kevin J. Carey
Fired Worker’s Entire Severance Claim Given Priority in Delaware by Judge Carey
Judge Carey distinguishes between administrative and priority claims for severance.
Judge Name - Do not use it.
Kevin J. Carey
Preference May Be Offset by an Unpaid Administrative Claim, Judge Carey Rules
Automatic disallowance under Section 502(d) held not applicable to administrative claims.
Judge Name - Do not use it.
Kevin J. Carey
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.
Judge Name - Do not use it.
Kevin J. Carey