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3rd Circuit

‘Disinterestedness’ Governs Approval of a Future Claimants’ Representative

Negotiating a prepackaged asbestos plan and having been paid by the debtor does not disqualify a future claimants’ representative under the disinterestedness standard.

Sanctions Imposed on a Law Firm Retained under a Fictitious Name

Although Florida permits practicing law under a fictitious name, the Bankruptcy Rules are more rigorous and require full disclosure, new Delaware judge says.

Lawyer Sanctioned for Filing at the Last Minute when Title Had Passed Already

Lawyer was sanctioned under Rule 9011 for filing a petition when the lawyer should have known that title had already passed in a foreclosure sale.

Another Court Limits ‘Related To’ Jurisdiction Based on Indemnification Claims

W.R. Grace makes more law on channeling injunctions.

Sometimes, a Claim Purchaser Can’t File a Claim, Delaware Judges Say

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

New Jersey Tax Foreclosures Can Be Preferences, Third Circuit Rules

Although a foreclosure sale can be immune from fraudulent transfer attack, a tax foreclosure not based on the value of the property can be a preference.

Delaware District Court Doesn’t Want 2,400 Johnson & Johnson Talcum Powder Suits

The Pacor test for ‘related to’ jurisdiction isn’t so broad when it comes to indemnification agreements.

The Debtor or Trustee Control the Privileges of an Independent Audit Committee

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

Third Circuit Expands the Flexible Notion of ‘Finality’ on Bankruptcy Appeals

The Third Circuit’s new opinion on ‘finality’ will be cast in doubt depending on how the Supreme Court rules in Ritzen.

Intercreditor Agreement Didn’t Apply to Plan Distributions, Third Circuit Holds

The Third Circuit wrote an important decision on distributing collateral under an intercreditor agreement, but it wasn’t precedential.