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Kavanaugh Rips 'Ruinous' Decision To Kill 3rd Party Releases
Titanic Purdue Ruling Shifts The Balance Of Power In Ch. 11
Small Biz Ch. 11s Soared Before Sub V Liability Limit Lapsed
Kavanaugh Rips 'Ruinous' Decision To Kill 3rd Party Releases
In a fiery dissent to the U.S. Supreme Court's split ruling Thursday that eviscerated Purdue Pharma LP's reorganization plan and, along with it, nonconsensual third-party releases in Chapter 11 cases, Justice Brett M. Kavanaugh became the champion of the bankruptcy system, defending its practicality — especially in mass tort cases.
Titanic Purdue Ruling Shifts The Balance Of Power In Ch. 11
The U.S. Supreme Court's decision to strike down the Sackler family's liability shield in the Chapter 11 plan of Purdue Pharma LP not only eliminates a key tool to resolve mass tort liabilities through bankruptcy, it gives claimants more leverage and fundamentally changes the insolvency landscape in future cases, experts tell Law360.
Small Biz Ch. 11s Soared Before Sub V Liability Limit Lapsed
U.S. bankruptcies under Subchapter V of Chapter 11 surged to a single-day record last week, as small businesses including packaged waffle maker Julian's Recipe rushed to file before the expiration of a key provision that would have made some of them ineligible.
Expert Analysis
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The U.S. Supreme Court will soon issue its opinion in the bankruptcy of Purdue Pharma LP, and regardless of the ou... (more story)
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A group of families looking to collect a $50 million defamation verdict against Alex Jones' media business can't seize its bank accounts, a Texas bankruptcy judge ruled Thursday, questioning why they asked a s... (more story)
The chairman of the Financial Oversight and Management Board for Puerto Rico, which oversees the island's finances, has said he will resign after serving nearly eight years since being appointed by President Barack Obama.
A Texas bankruptcy judge on Thursday said he would greenlight insurance software provider Ebix's Chapter 11 disclosure statement with the support of the debtor's unsecured creditors.
The U.S. Supreme Court shot down the validity of nonconsensual third-party releases in an opinion issued Thursday in the case of bankrupt drugmaker Purdue Pharma LP, potentially exposing the Sackler family mem... (more story)
McCarter & English LLP announced this month it had appointed Kate Roggio Buck as co-managing partner for its Delaware office. She tells Law360 why the firm decided to add another managing partner, and chats ab... (more story)
Unsecured creditors of Barretts Minerals have urged a Texas bankruptcy judge to dismiss its bankruptcy following the debtor's sale of its talc business, arguing that Barretts remains in bankruptcy only to get ... (more story)
Thursday's Chapter 11 plan confirmation hearing for Rite Aid will open with arguments on whether the drugstore chain can use its bankruptcy to escape fraud claims lodged by the state of Maryland over the compa... (more story)
A Texas federal judge has rejected a request by a group of ConvergeOne lenders to stay a bankruptcy court's order approving an equity rights offering included in the information technology company's Chapter 11... (more story)
A California bankruptcy judge on Wednesday gave the Roman Catholic Bishop of Sacramento the all-clear to terminate a supplemental retirement plan for the church's priests, allowing the debtor to strike a deal ... (more story)
Federal judges in Kansas and Missouri on Monday partially blocked the Biden administration from implementing its latest student debt relief program, with both finding that Congress did not give clear authoriza... (more story)
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A Canadian diamond polisher urged a Michigan federal judge to keep alive its suit alleging that a lab-grown diamond company's private equity owner knew it couldn't make good on its promise to fund new faciliti... (more story)
Music store chain Sam Ash Music Corp. asked the New Jersey bankruptcy judge overseeing its Chapter 11 case to allow it to enter a $15.2 million asset purchase agreement with its winning bidder, Mexican retaile... (more story)
A Texas bankruptcy judge on Wednesday approved Eiger BioPharmaceuticals' $35.1 million sale of its Avexitide product, after the drug company more than tripled an initial bid for the metabolic-disease treatment... (more story)
Synthetic biologics maker Solar Biotech Inc.'s proposed Chapter 11 loan hit a roadblock Wednesday when a Delaware bankruptcy judge balked at approving the financing package without a firm commitment from the l... (more story)
Cleaning products company Supply Source Enterprises Inc. told the Delaware bankruptcy court it wouldn't go through with a planned auction of all its assets because only its stalking horse bidder made a satisfactory offer.
ProSomnus, a developer of devices aimed at preventing sleep apnea, can solicit its creditors' votes on the company's Chapter 11 plan after it made revisions responding to objections raised by the U.S. Trustee'... (more story)
Defunct internet service provider GigaMonster asked for the Delaware bankruptcy court's sign-off to send its Chapter 11 liquidation and wind-down plan out for a vote by creditors, following a settlement in whi... (more story)
A California lawyer has stopped defending himself against bar discipline charges that accuse him of stealing as much as $282 million from clients, and his posture has forced the cancelation of a trial that was... (more story)
A Delaware bankruptcy judge on Wednesday gave her blessing for pharmaceutical developer PhaseBio Pharmaceuticals Inc. to liquidate its assets and wind down after settlement agreements with creditors and a busi... (more story)
A London judge has ordered a former director of the now-defunct British Home Stores to pay £50 million ($63.2 million) in damages after concluding he had committed trading misfeasance and wrongful trading duri... (more story)