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Documents on Bankruptcy, Chemicals
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|Attacking LBO Payouts as State Law Fraudulent Transfers|
Barbara Altimus Shreero; Sheppard, Mullin, Richter & Hampton LLP;
February 14, 2014, previously published on February 11, 2014The United States Bankruptcy Court for the Southern District of New York (the “Court”) in Weisfelner v. Fund 1 (In Re Lyondell Chemical Co.), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) recently held that the safe harbor provision of 11 U.S.C. § 546(e) did not bar unsecured...
|Lyondell Bankruptcy Court Holds That Safe Harbors Do Not Prohibit Creditors From Asserting State Law Constructive Fraudulent Transfer Claims|
Israel Dahan, Mark C. Ellenberg, Michael Stevens; Cadwalader, Wickersham & Taft LLP;
February 4, 2014, previously published on January 29, 2014On January 14, 2014, Judge Robert E. Gerber of the United States Bankruptcy Court for the Southern District of New York in Weisfelner v. Fund 1. (In re Lyondell Chemical Co.), Adv. Proc. No. 10-4609 (REG), 2014 WL 118036 (Bankr. S.D.N.Y. Jan. 14, 2014) held that section 546(e) of the Bankruptcy...
|Ohio Bill Requires Trust Disclosure by Plaintiffs to Inject Transparency in Asbestos Litigation|
Craig T. Liljestrand; Hinshaw & Culbertson LLP;
January 6, 2012, previously published on January 5, 2012The Ohio General Assembly recently responded to the accelerated rate of asbestos-driven bankruptcies by considering a new bill, H.B. 380, which requires plaintiffs in civil actions to disclose to defendants any pending claims against asbestos trusts. The bill recognizes that there are two paths to...
|Weathering the Storm: Can Executory Contracts Have Multiple Personalities? The Fifth Circuit Finds an Asset Purchase Agreement Amended an ERISA Plan|
Greta E. (Gerberding) Cowart, Michael E. Foreman, Debra Gatison Hatter, W. Abigail Ottmers; Haynes and Boone, LLP;
November 3, 2011, previously published on November 3, 2011Rejection of a contract in bankruptcy may not always accomplish a debtor’s goal to shed ongoing contractual obligations and liabilities, especially when dealing with employee benefit plans. On October 13, 2011, the Fifth Circuit Court of Appeals highlighted this issue in its opinion in Evans...
|Parties with Contribution Claims May Be Out of Luck|
Riker Danzig Scherer Hyland Perretti LLP;
June 20, 2011, previously published on June 15, 2011Two recent decisions by the Bankruptcy Court in New York addressed the disposition of contribution claims against a company that has been designated a potentially responsible party ("PRP”) when the company files for bankruptcy. In these two cases, the Court found the contribution claims...
|Delaware Bankruptcy Court Holds That the “Common Interest Doctrine” Protects Privileged Communications That the Debtor Shared With Pre-Petition Ad Hoc Committee|
Richards Layton Finger P.A.;
September 24, 2010, previously published on September 24, 2010Earlier this week, in In re Leslie Controls, Inc., Case No. 10-12199 (CSS) (Bankr. D. Del. Sept. 21, 2010), the United States Bankruptcy Court for the District of Delaware issued an opinion confirming that the “common interest doctrine” protected from production in subsequent litigation...
|Bankruptcy Court Holds that Private Label Credit Card Program is Not a Contract to Make a Loan or to Extend a Financial Accommodation and Thus May Be Assumed and Assigned Over the Credit Card Issuer's Objection|
Richards, Layton & Finger, P.A.;
December 22, 2008, previously published on November 26, 2008In a recent hearing to consider the sale of the Boscov's department store chain, the United States Bankruptcy Court for the District of Delaware held that Boscov's private label credit card program agreement was not a "contract to make a loan or extend a financial accommodation" and...
|New Pension Contribution Priorities under the Bankruptcy and Insolvency Act|
Richard E. Johnston; Fasken Martineau DuMoulin LLP;
December 20, 2008, previously published on November 2008The priorities of some pension claims on bankruptcy and receivership changed as a result of amendments effective July 8, 2008 to the Bankruptcy and Insolvency Act R.S.C. (Canada) (the "BIA").
|Alabama - When Laws Collide: U.S. Attorney's Office Addresses Tax Consequences of Paying Wages to a Bankruptcy Trustee|
Preston R. Burch; Ogletree, Deakins, Nash, Smoak & Stewart, P.C.;
December 13, 2008, previously published on November 14, 2008The Friday, October 10, 2008, edition of The State newspaper (Columbia, South Carolina) carried an article about the possible Wells Fargo-Wachovia merger.
|Decision Issued Over Bankruptcy Court's Power to Impose Sanctions|
Rudolph J. Di Massa, Sommer L. Ross; Duane Morris LLP;
December 3, 2008, previously published on November 7, 2008On Sept. 9, in In re Schaefer Salt Recovery Inc., the 3rd U.S. Circuit Court of Appeals published a precedential opinion on two issues of first impression.