Fiduciary Duty, Chapter 11, Appeals

The Barton Doctrine: Suit Against Receiver Did Not Require Court Permission

Patterson Belknap Webb & Tyler LLP on 1/29/2025

The Barton doctrine provides that a court-appointed receiver cannot be sued absent “leave of court by which he was appointed.” Barton v. Barbour, 104 U.S. 126, 127 (1881). “An action against a receiver without court...more

Del. Bankruptcy Rulings Instruct on Creditors' Rights to Sue

Proskauer Rose LLP on 9/30/2022

Creditors of distressed businesses are often frustrated by shareholder- controlled boards when directors pursue strategies that appear to be designed to benefit shareholders at the creditors' expense. In these...more

In re Pace Industries, LLC: Minority Shareholder With Bankruptcy Consent Rights Considered Controlling Minority Shareholder With...

Vinson & Elkins LLP on 5/19/2020

A recent bench ruling in In re Pace Industries, LLC1 by Judge Walrath for the Bankruptcy Court for the District of Delaware (the “Court”) has validated a chapter 11 bankruptcy filing by certain debtors in the jointly...more

Another Ruling on Public Auctions Versus Private Sales Under Section 363

Patterson Belknap Webb & Tyler LLP on 5/6/2019

Two weeks ago, we discussed asset sales under Bankruptcy Code section 363. As that post noted, section 363 requires court approval for asset sales outside the ordinary course of business, with courts ensuring that sales...more

Bankruptcy Remoteness Going to a Court of Appeals (Progress Report No. 2)

Patterson Belknap Webb & Tyler LLP on 4/18/2018

Our February 22 post reported that the Franchise Services of North America, Inc. decision of Bankruptcy Judge Edward Ellington of the Southern District of Mississippi dismissing a Chapter 11 petition because a shareholder had...more

Bankruptcy Remoteness Going to a Court of Appeals (Progress Report No. 1)

Patterson Belknap Webb & Tyler LLP on 3/20/2018

Our February 22 post reported that the Franchise Services of North America, Inc. decision of Bankruptcy Judge Edward Ellington of the Southern District of Mississippi dismissing a Chapter 11 petition because a holder of...more

Bankruptcy Beat: Jockeys Nearing Finishing Line in 25-Year Civil and Bankruptcy Litigation with their Former Business Managers

Pullman & Comley, LLC on 6/2/2015

Hall of fame horse racing jockeys Laffit Pincay, Jr. and Chris McCarron first sued their former business managers, Vincent and Robert Andrews, in California District Court in 1989 for fraud, breach of fiduciary duty and other...more

Directors of Nonprofit Held Financially Liable for Relying on Incompetent Officers and Lack of Oversight

Davis Wright Tremaine LLP on 3/9/2015

In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more

Fiduciary Duty › Chapter 11 › Appeals

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