In ruling a motion to dismiss, the Third Circuit Court of Appeals considered whether the purchaser of the Debtors’ shares post-confirmation was bound by releases contained in the plan of
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U.S. Court of Appeals for the Third Circuit
In the First, Second and Third Circuits, Creditors’ Committees Have Unconditional Rights To Intervene in Adversary Proceedings
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Official Committees’ of Unsecured Creditors can, and often do, have significant impacts on cases under chapter 11 of the Bankruptcy Code. Appointed pursuant to Section 1102 of the Bankruptcy Code,…
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Recovery in Fraudulent Transfer Litigation in Delaware Bankruptcy Court is Not Capped by the Amount of Creditor Claims
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In PAH Litigation Trust v. Water Street Healthcare Partners, LP (In re Physiotherapy Holdings, Inc.), Case No. 13-12965 (KG), Adv. No. 15-51238 (KG), 2017 WL 5054308 (Bankr. D. Del. Nov.
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Redemption Premiums – They Now Survive a Bankruptcy Filing
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On August 29, 2016, the Third Circuit released a precedential opinion (the “Opinion”) which opined that a “[redemption] premium, meant to give the lenders the interest yield they expect, [does…
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Third Circuit Denies Summary Judgment in Issue of Pre-emption
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On August 29, 2016, the Third Circuit released a precedential opinion (the “Opinion”) which opined on whether filing an involuntary bankruptcy petition could qualify as tortious interference under state law. …
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Third Circuit Affirms Bankruptcy Opinion – Trump Entertainment
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On January 15, 2016, the Third Circuit Court of Appeals issued a precedential opinion (the “Opinion”) affirming the October 20, 2014 opinion of Judge Gross. The Opinion is available here.…
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Third Circuit Allows for More Options for Buyers in a 363 Sale
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On September 14, 2015, the Third Circuit released a precedential opinion (the “Opinion”) which addressed payments from a buyer to non-debtor parties in a 363 sale. The Third Circuit’s opinion …
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Third Circuit Rules that Failure to Disclose Third-Party Release Proves Fatal
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In the recent Third Circuit decision of In re Lower Bucks Hospital, No. 13-1311 (3d Cir. July 3, 2014), the Third Circuit upheld the ruling of the Bankruptcy Court…
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Third Circuit Opinion Creates Precedent Important for Secured Creditors
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The Third Circuit released a precedential opinion on May 14, 2012 that can greatly impact bankruptcy debtors attempting to reorganize as well as their secured creditors. A copy of the …
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Decision in NWL Holdings, Inc., Limits the Ability of Defendants to Transfer Preference Actions
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Summary
In a 17 page decision signed on February 24, 2011, Judge Walrath of the Delaware Bankruptcy Court applied a twelve factor test in determining if a preference action against…
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