Delaware Supreme Court: No ‘Insolvency Exception’ for Asset Sales
Delaware corporations must have shareholder approval to sell all or substantially all assets outside of bankruptcy.
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Judge Walrath Describes Due Diligence to Plead After the Amendment to Section 547(b)
The amendment to Section 547(b) does not require a preference complaint to explain why the defendant doesn’t have affirmative defenses, Judge Walrath says.
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Judge Ambro Explains the Primacy of Section 327(a) over State Ethics Rules
Absent an ‘actual conflict,’ disqualification is not automatic, the Third Circuit says.
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Two Circuits Now Give Priority Status to Obamacare’s Individual Mandate Penalty
The Affordable Care Act’s ‘individual mandate’ was a tax measured by income, thus giving the IRS a priority tax claim.
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Bankruptcy Courts Have ‘Core’ Power to Order Fee Disgorgement, Third Circuit Says
Being seen at bar events in the company of those who appear in court doesn’t show judicial bias.
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Delaware District Judge Says: Don’t Use ‘Nunc Pro Tunc’ When You Mean ‘Retroactive’
Submitting a retention order with the wrong word resulted in a pivotal issue on appeal.
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To Be a Section 544(b)(1) Predicate Claim for a 10-Year Lookback, the Claim Must Be Filed
A claim of the IRS can provide a 10-year lookback for avoidance actions, but the claim must have been filed.
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Johnson & Johnson Survives a Motion to Dismiss that Alleged a Bad Faith Filing
Judge in New Jersey explains why chapter 11 is the best alternative for a large company to deal with mass torts.
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Special Counsel with an Actual Conflict Faces Disgorgement of Fees in Delaware
Judge Sontchi set aside a prior order preventing the trustee from controlling litigation brought in the trustee’s name.
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Horizontal ‘Gifting’ Approved in Mallinckrodt’s Confirmed Chapter 11 Plan
Mallinckrodt’s nondebtor releases didn’t have the defects that infected Purdue and Patterson.
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