Commercial Bankruptcy, Fiduciary Duty, Motion to Dismiss

Barton Strikes Again: Nominal “Individual” Claims Don’t Excuse Non-Compliance

Patterson Belknap Webb & Tyler LLP on 6/4/2025

Joshua Jordan was the CEO of Prehired LLC (“Prehired”), a “members-only workforce accelerator.” In December 2023, Jordan logged into Prehired’s Wells Fargo bank account online. He transferred $74,000 to the account of another...more

Delaware Court Precludes Creditors of Limited Partnership From Pursuing Derivative Claims

Skadden, Arps, Slate, Meagher & Flom LLP on 6/19/2019

In several cases since the seminal 2011 Delaware Supreme Court decision CML V LLC v. Bax, which held that creditors of Delaware LLCs lack standing to pursue derivative claims, the U.S. Bankruptcy Court for the District of...more

Bankruptcy Court Grants Motion To Dismiss Based Upon Affirmative Defense

Fox Rothschild LLP on 9/4/2018

When deciding a motion to dismiss a complaint pursuant to Federal R. Bankr. 7008, which incorporates Rule 12(b)(6), a court must accept all factual allegations in the complaint as true and construe all inferences from those...more

Third Circuit Enforces Plan Releases Against Later-Purchasing Shareholders Bringing Claims Concerning Post-Confirmation Conduct

Patterson Belknap Webb & Tyler LLP on 8/24/2018

Bankruptcy plans often include provisions releasing debtors and their officers and directors from certain potential liability. In Zardinovsky v. Arctic Glacier Income Fund, No. 17-2522 (3d Cir. Aug. 20, 2018), the United...more

Bankruptcy Courts Closing In – Will An Agreement Requiring Unanimous Consent To File For Bankruptcy Be Effective?

BCLP on 7/9/2016

We’ve all seen it. The business opportunity looks enticing but is laced with risk about a potential bankruptcy filing down the road. As bankruptcy lawyers we are often asked how deals can be structured to prevent a...more

Fifth Circuit Applies Moench Presumption of Prudence at Motion to Dismiss Stage

Proskauer - Employee Benefits & Executive... on 7/16/2013

The Fifth Circuit recently joined four other circuits (the Second, Third, Seventh and Eleventh Circuits) in holding that the presumption of prudence applicable in employer stock fund cases is appropriately applied at the...more