Rochelle's Daily Wire

Judges Stark and Carey from Delaware distinguish between prohibiting the power and the right to assign a claim.

As his parting shot, Judge Carey requires turnover of almost everything in the files of professionals for an independent audit committee.

Creditors lack standing in Delaware and other states for derivative liability suits against officers and managers of LPs and LLCs.

A waiver in a KERP is enforceable even if it violates state labor law, Judge Carey rules.

Judge Carey distinguishes between administrative and priority claims for severance.

Automatic disallowance under Section 502(d) held not applicable to administrative claims.

Delaware’s Judge Carey slams the door on waivers of the right to file chapter 11.