Releases, a/k/a Exculpations, of Insiders Barred Under a Chapter 11 Plan
Bankruptcy Judges Wiles in New York decided that insiders were not entitled to releases under Section 503(c), but not for the reasons contained in Purdue.
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An ‘Admin’ Claim Isn’t Mandated for Nonpayment of Rent Before Automatic Rejection
To align with congressional intent underpinning Section 365(d)(3), Judge Gravelle gave the landlord an administrative claim for base rent due after filing and before automatic rejection.
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Concurrent Representation of a Major Creditor/Shareholder Is/Isn’t Disqualifying
Concurrent representation of a 43% shareholder was disqualifying while representing a creditor with 79% of the debt did not disqualify.
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District Court Disregards the Bankruptcy Court’s Authority over Post-Petition Fees
Seemingly in conflict with Section 329, a district court decided that a chapter 7 debtor’s attorneys could sue for post-petition fees, even though the firm never disclosed the fee arrangement as required by Section 329 and Rule 2016.
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J&J’s ‘Baby Powder’ Chapter 11 Case Dismissed a Second Time: No Financial Distress
Bound by the Third Circuit’s first LTL decision, the bankruptcy court found that LTL’s rejiggered second filing suffered from the same defect: no immediate financial distress.
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A Trustee Receives Statutory Commissions Unless the Amount Is ‘Offensive’
A trustee’s commissions can’t be based on a percentage of disbursements to the trustee’s own counsel, so says a New Jersey district judge.
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Judge Kathryn Ferguson Evokes Bob Dylan with Regard to Changing Rules on Setoff
Times are a-changin’ when it comes to setoff against exempt assets.
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Ultimate Success of the J&J Subsidiary’s Second ‘Talc’ Bankruptcy Is Up in the Air
The bankruptcy judge only gave nondebtor J&J companies a more limited stay in the second LTL chapter 11 case.
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Court Halts States’ Police and Regulatory Suits against Non-Debtor Johnson & Johnson
In spreading the automatic stay, the bankruptcy court again employed the traditional analysis without recognition that the non-debtors are solvent.
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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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