Non-Consensual Releases of Third Parties Approved by Bankruptcy Court

Admin on March 30, 2022 Posted in Bankruptcy Law, Bankruptcy News, Blog

In February 2020, as one of several decisions concerning third-party releases (TPRs), a bankruptcy court judge confirmed a reorganization plan and its associated debtor entities which include third-party releases. As part of the plan’s confirmation, the judge noted recent decisions that introduced concerns involving a court’s authority in approving non-consensual (NC) TPRs but applied Third […]

District Court Disrupts Purdue’s Reorganization Plan: Future Restructuring Challenges Might Lie Ahead

Admin on January 24, 2022 Posted in Articles, Bankruptcy News, Blog

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Rennaker v. Davis Highlights What Cannot be Discharged in Bankruptcy

Admin on January 10, 2022 Posted in Articles, Bankruptcy News, Blog

The recent Rennaker case involved various claims addressing what is dischargeable under both 11 U.S.C. section 523 and section 727. The Judge’s decision, in this case, provides a detailed examination of legal actions concerning what can be discharged in bankruptcy.  How the Case Arose The debtor in the proceeding was a lawyer who handled primarily […]

Third Circuit Holds Pre-Effective and Post-Confirmation Date “Claims” Can be Discharged in Bankruptcy

Admin on October 15, 2021 Posted in Bankruptcy Law, Bankruptcy News, Blog

Toward the end of 2021, a federal circuit court found for the first time that claims that became connected to a debtor’s case after a Chapter 11 plan was confirmed but before the plan’s effective date was subject to discharge. This holding urges extra caution from all creditors and counterparties of a Chapter 11 case […]

Bankruptcy Court Finds “Critical Vendor” Label Provides No Insulation from Preference Claims

Admin on September 15, 2021 Posted in Bankruptcy News, Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy

In what could likely end up an influential ruling, a Delaware court recently held that securing a “critical vendor” status in Chapter 11 commercial bankruptcy case ultimately offers no defense in situations where the vendor later faces legal action for the recovery of preferential payments that the debtor recoups shortly before bankruptcy. The Role of […]

The Issuers of Stock Held Liable for Double-Pledge

Admin on August 30, 2021 Posted in Bankruptcy News, Blog

A Louisiana bankruptcy court, in the Karcredit LLC case, recently considered a case involving two lenders and one stock certificate. At the heart of the Karcredit case was a party who relied on a stock certificate to satisfy loan duties owed to another party. After a replacement certificate was reissued, one party relied on this […]

Third Circuit Decides Bankruptcy Case Addressing Sovereign Immunity

Admin on July 31, 2021 Posted in Bankruptcy News, Blog

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Third Circuit Issues Notice of Publication Decision in Bankruptcy Case

Admin on June 15, 2021 Posted in Bankruptcy News, Blog

One fundamental aspect of bankruptcy law is that debtors can receive new starts on establishing good credit after emerging from the bankruptcy process. A company’s capacity to discharge liabilities is one of the primary motivators for pursuing protection under Chapter 11 bankruptcy. Consequently, it should come as no surprise that ensuring necessary steps are taken […]

Potential Changes Looming With How Student Loan Debt is Handled During Bankruptcy

Admin on May 30, 2021 Posted in Bankruptcy News, Blog

Advocates are currently urging the United States Supreme Court to provide clarification about what debtors must establish to eliminate student loan debt in bankruptcy. Erasing student loan debt through bankruptcy is almost always difficult to do. Bankruptcy courts require a high standard of “undue hardship” to be established before student loan debt can be discharged.  […]

Court Rules Recoupment Requires Proof of Emotional Distress

Admin on May 15, 2021 Posted in Bankruptcy News, Blog

In April, a bankruptcy court entered a judgment in favor of a national bank, determining that the plaintiff had failed to establish that he had experienced an injury involving economic or emotional distress damages due to the lender’s violations. During Chapter 13 bankruptcy proceedings, the plaintiff initiated legal action against the bank and a loan […]