The Supreme Court recently issued an opinion, resolving a circuit split, narrowing the sovereign immunity exception by limiting a trustee’s ability to pursue avoidance actions against the government when such action invokes...more
In one of the most publicized terms for the U.S. Supreme Court, one June decision has not received the attention it deserves: Truck Insurance Exchange v. Kaiser Gypsum Company Inc. Truck upends decades of Chapter 11...more
10/30/2024
/ Asbestos ,
Bankruptcy Trustees ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Insurance Claims ,
Real Party in Interest ,
Reorganizations ,
SCOTUS ,
Truck Insurance Exchange v Kaiser Gypsum Co Inc
On June 27, 2024, the U.S. Supreme Court blocked a $6 billion bankruptcy settlement in Harrington v. Purdue Pharma L. P., No. 23-124, 2024 WL 3187799, at *11 (U.S. June 27, 2024). The Court found that the Bankruptcy Code does...more
The U.S. Supreme Court on June 6, 2024, held that an insurer with a financial responsibility for bankruptcy claims is a party in interest and has standing to raise and be heard on issues in a Chapter 11 proceeding. In Truck...more
Earlier this year, the Supreme Court issued a decision that all business owners should be aware of. The Supreme Court resolved a Circuit split over whether a debtor can discharge a debt incurred by a fraud committed by the...more
For some time, bankruptcy courts wrestled over whether creditors violated the Bankruptcy Code’s automatic stay provision under 11 U.S.C. § 362(a)(3) by creditors’ passive retention of a debtor’s property once a debtor files...more