LexisNexis® Legal Newsroom
11th Circuit: Debtor's Case Properly Dismissed For Not Listing Separate Lawsuit

ATLANTA - A panel of the 11th Circuit U.S. Court of Appeals on March 14 ruled that a district court properly dismissed a bankruptcy case because the debtor failed to disclose that she had filed a separate $10 million lawsuit against the government (Laura J. Jones v. United States of America, No. 11-13158...

Delaware Federal Judge Amends Ruling But Still Confirms Grace's Chapter 11 Plan

WILMINGTON, Del. - A Delaware federal judge on June 11 granted requests to rehear arguments and alter his opinion confirming W.R. Grace & Co.'s Chapter 11 plan of reorganization and then filed an amended 228-page confirmation decision that also includes changes to reflect two recent federal circuit...

Delaware Federal Judge Denies Stay Of Bankrupt Company's Reorganization

WILMINGTON, Del. - Bankrupt asbestos products company Garlock Sealing Technologies LLC failed to show that its appeal of the confirmation of W.R. Grace & Co.'s Chapter 11 plan of reorganization is likely to succeed, and delaying implementation of the plan will harm Grace and people suffering...

Property Damage Claimant In Grace Bankruptcy Denied Relief From Confirmation Order

WILMINGTON, Del. - A recent court ruling that further defines when a claim arises in bankruptcy does not constitute an exceptional circumstance warranting relief from confirmation of W.R. Grace & Co.'s Chapter 11 reorganization plan sought by a property damage claimant, a federal judge in Delaware...

Bankrupt RG Steel Sells Plant For $20 Million

WILMINGTON, Del. - RG Steel LLC, the affiliate of bankrupt WP Steel Venture LLC, on Aug. 2 announced it had reached an agreement to sell one of its plants for $20 million to a contractor that specializes in plant demolition, among other things (In Re: WP Steel Venture LLC, No. 12-11661, Chapter 11, D...

Supreme Court Declines To Hear Case Involving Arbitration Issues In Bankruptcy

WASHINGTON, D.C. - The U.S. Supreme Court on Oct. 1 denied certiorari to an insurer that had asked the court to hear its claim that arbitration agreements should be honored in bankruptcy proceedings (Continental Insurance Company v. Thorpe Insulation Company, No. 11-1310, Chapter 11, U.S. Sup.). Follow...

State Of Wisconsin: NewPage Chapter 11 Plan Obstructs Environmental Cleanup

WILMINGTON, Del. - The State of Wisconsin on Nov. 29 filed a brief in the U.S. Bankruptcy Court for the District of Delaware arguing that bankrupt NewPage Corp.'s Chapter 11 reorganization plan should not be confirmed because it would hinder the state's ability to enforce various environmental...

5th Circuit Reverses Award; Barclays Not Entitled To Fee In Asarco Chapter 11 Case

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on Dec. 11 reversed a fee award to Barclays Capital Inc. related to the financial services it rendered in the Chapter 11 bankruptcy proceeding of Asarco LLC (Asarco LLC v. Barclays Capital Inc. [In The Matter of Asarco LLC], No. 11-41010...

2nd Circuit: Environmental Claims Against Texaco Fail; Discharged In Bankruptcy

NEW YORK - A panel of the Second Circuit U.S. Court of Appeals on Dec. 19 ruled that a realty company's claims against Texaco Inc. related to contamination from environmental cleanup efforts were discharged as a result of Texaco's bankruptcy and subsequent successful confirmation of its reorganization...

Federal Judge: Settlement Between Debtor, Insurance Carrier Proper

CHICAGO - A federal judge in Illinois on Jan. 10 ruled that an insurance settlement between a debtor and one of its insurers related to asbestos coverage was proper despite a separate insurer's contention that the settlement would increase its own liability related to asbestos claims Columbia Casualty...

U.S. Government Sues Bankrupt ATP Oil & Gas For Violations Of Environmental Law

NEW ORLEANS - The U.S. government on Feb. 12 sued bankrupt oil and gas company ATP Oil & Gas Corp. in the U.S. District Court for the Eastern District of Louisiana, contending that the company made unlawful discharges of oil and another chemical into the Gulf of Mexico (United States of America v...

Bankrupt OSG Seeks Injunction Prohibiting Asbestos Claims;

WILMINGTON, Del. - Bankrupt Overseas Shipholding Group (OSG) on April 25 filed a complaint in the U.S. Bankruptcy Court for the District of Delaware seeking a ruling that lawsuits against the company related to asbestos exposure are stayed pending bankruptcy as per the automatic stay (In Re: Overseas...

Bankruptcy Judge Rejects Barclays' Fee Enhancement For Work On ASARCO Case

CORPUS CHRISTI, Texas - Barclays Capital Inc. was adequately compensated for the 14 months of financial advisory services it provided in ASARCO LLC's bankruptcy case and is not entitled to a fee enhancement because Barclays should have anticipated the complicated developments in the case when it...

1st Circuit Affirms That Civil Fines Against Debtor Are Administrative Expenses

BOSTON - A panel of the First Circuit U.S. Court of Appeals on Nov. 20 affirmed a ruling that treated environmental fines against a debtor company as administrative expenses in the bankruptcy proceeding (Munces' Superior Petroleum Products Inc. v. N.H. Department of Environmental of Services $(In...

Bankrupt OSG Says Asbestos Claims Were Dismissed Prior Petition Filing Date

WILMINGTON, Del. - Bankrupt Overseas Shipholding Group Inc. (OSG) on Jan. 3 filed a brief in the U.S. Bankruptcy Court for the District of Delaware objecting to asbestos claims filed against the bankruptcy estate on grounds that they were dismissed prior to when OSG filed its bankruptcy petition (In...

Split 3rd Circuit: Injury Claims Are Property Of Debtor's Bankruptcy Estate

PHILADELPHIA - A split panel of the Third Circuit U.S. Court of Appeals on Jan. 24 affirmed a ruling that the claims of personal injury plaintiffs against a debtor company belonged to the bankruptcy estate (In re: Emoral Inc., No. 13-1467, Chapter 11, 3rd Cir.).