New York Court Holds that ‘Future’ Asbestos Claims Can Be Discharged Without a Trust
Professors disagree on whether latent asbestos claims can be discharged without a trust for future claimants.
Preserving Defensive Setoff Rights Doesn’t Require Filing a Claim, Judge Glenn Says
Defensive setoff rights are not discharged by chapter 11 confirmation, even when no proof of claim was filed.
Established Law Pointed Judge Lane Toward Dismissing Giuliani’s Chapter 11 Case
New York’s Judge Sean Lane saw no reason for forcing holders of a $148 million defamation judgment ‘to wait years’ for a ‘modest distribution.’
A Chapter 7 Case Raises Issues in Truck Insurance on Standing in Bankruptcy Cases
Judge Mastando in New York decided that a chapter 7 trustee has authority to put the debtor’s subsidiary voluntarily into bankruptcy.
MOAC Again: No Remedy for the Landlord Despite Beating Sears in the Supreme Court
On remand from the Supreme Court and the Second Circuit, the district court decides that the Mall of America landlord isn’t entitled to more than the bargain it made with Sears in 1991.
District Court Narrowly Reads a Nondebtor Release in a Sale-Approval Order
A potential bidder wasn’t barred from suing the successful bidder outside of bankruptcy court.
District Court Orders Arbitration of All Noncore Claims, Reversing the Bankruptcy Court
Absent ‘concerns peculiar to bankruptcy’ when there is an arbitration clause, the district court followed Henry Schein by saying that the bankruptcy court should have allowed arbitrators to decide which claims are arbitrable, or not.
New York Judge Rejects a ‘Lockup’ Long Before a Plan Is Negotiated
New York’s Judge Martin Glenn disapproved a lockup agreement masquerading as a plan-support agreement that required the creditor to vote for any plan the debtor might propose.
Lawyer Hit with $47,000 in Sanctions for Filing Fictitious Schedules
A lawyer was found to have committed fraud on the court for filing schedules claiming ownership of property that another court had found not to be the debtor’s property.
District Court Upholds the ‘Time Approach’ to Reduce Landlords’ Claims
Across the board, the district court affirmed a decision by Bankruptcy Judge Michael Wiles that minimized landlords’ claims resulting from lease termination or rejection.