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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Hornblower Completes Financial Restructuring
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Courts Are Now Split on Ignoring Nonvoting Classes in Subchapter V Plans
Disagreeing with two bankruptcy courts in Houston, Miami’s Judge Isicoff holds that a Sub V plan with a nonvoting class can be confirmed only as a nonconsensual plan.
A Claim Is Unliquidated if It Requires the Exercise of Judgment or Discretion
Tort claims are usually unliquidated, but a contract claim is liquidated if it’s precisely determinable by agreement or operation of law, Judge Lori Vaughan says.
Judicial Estoppel Barred the Debtor from Filing an Undisclosed ‘PI’ Claim, Circuit Says
Eighth Circuit holds that a chapter 13 debtor, not the trustee, has standing to bring personal injury claims.
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Supreme Court Reverses Purdue: No Nondebtor, Third-Party, Nonconsensual Releases
Justice Gorsuch for the majority bans third-party releases broader than a discharge for those who don’t surrender all their assets to the court.
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Puerto Rico Board Seeks Hearing to Revise Utility’s Debt Plan
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Post-Confirmation/Post-Sale Jurisdiction
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Supreme Says: No Refunds for Overpayment of Unconstitutional U.S. Trustee Fees
Although there was no split of circuits, the Supreme Court decided that Congress provided a sufficient remedy by requiring uniform fees going forward.
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