Mealeys

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Mealey's Bankruptcy - 3rd Circuit Asks For Briefing On Effects Of Ritzen Group On Appeal
Posted on 24 Jan 2020 by Mealeys

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Jan. 22 said it wants to know what asbestos claimants and Chapter 11 debtor Energy Future Holdings Corp. (EFH) think about the impact a recent U.S. Supreme Court decision has on their dispute over... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - New CertainTeed Affiliate Declares Bankruptcy To Resolve Asbestos Claims
Posted on 24 Jan 2020 by Mealeys

CHARLOTTE, N.C. - A newly formed affiliate of frequent asbestos personal injury defendant CertainTeed LLC filed a Chapter 11 petition on Jan. 23 in North Carolina federal bankruptcy court looking to permanently resolve CertainTeed's asbestos liabilities... Read More

Mealey's Bankruptcy - Bankruptcy Court Maps Plan To Resolve Final Issues In Debtor, Insurer Row
Posted on 21 Jan 2020 by Mealeys

NEW YORK - A New York federal bankruptcy judge issued a scheduling order Jan. 16 for resolution of the remaining issues in a long-running dispute between Chapter 11 debtor Rapid-American Corp. and insurers over coverage for asbestos liability while the... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Bankruptcy Judge Closes Irish Reinsurer's Chapter 15 Case Over $1B Deficit
Posted on 14 Jan 2020 by Mealeys

NEW YORK - A New York federal bankruptcy judge on Jan. 13 closed an Irish reinsurer's bankruptcy proceeding that recognized a foreign main liquidation proceeding concerning an alleged $1 billion deficit (In re Ballantyne Re Plc, Chapter 15, No. 19... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Stay Relief Motion Is Final Bankruptcy Order, Unanimous Court Holds
Posted on 14 Jan 2020 by Mealeys

WASHINGTON, D.C. - A bankruptcy court's ruling on a motion for relief from the automatic stay is a final, appealable order, the U.S. Supreme Court decided Jan. 14 in upholding a decision by the Sixth Circuit U.S. Court of Appeals (Ritzen Group, Inc... Read More

Mealey's Bankruptcy - Paddock Files For Chapter 11 To Resolve Owens-Illinois' Asbestos Liabilities
Posted on 7 Jan 2020 by Mealeys

WILMINGTON, Del. - Paddock Enterprises LLC on Jan. 6 became the latest corporate victim to using asbestos in products, with the company filing a Chapter 11 petition in Delaware federal bankruptcy court after a December restructuring of the world's... Read More

Mealey's Bankruptcy - Mediation Session Approved For Insurer Row With Imerys, Claimants
Posted on 2 Jan 2020 by Mealeys

WILMINGTON, Del. - Disputes among Chapter 11 debtor Imerys Talc America Inc., one of its insurers and tort claimants' representatives are headed to mediation, with a Delaware federal bankruptcy judge on Dec. 26 approving a two-day negotiating session... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Imerys Debtors Get Third Extension Of Plan Filing Deadline
Posted on 2 Jan 2020 by Mealeys

WILMINGTON, Del. - A Delaware federal bankruptcy judge on Dec. 26 gave Chapter 11 debtor Imerys Talc America Inc. and affiliates three more months to propose a plan of reorganization on their own (In re: Imerys Talc America, Inc., et al., No. 19-10289... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - 2 Florida Residents Fraudulently Transferred Assets, Insolvent Insurer Says
Posted on 21 Dec 2019 by Mealeys

WEST PALM BEACH, Fla. - An insolvent insurer alleges in an adversary complaint filed Dec. 18 in a Florida bankruptcy proceeding that two Florida residents fraudulently transferred $386,000 in avoidance of a $122 million final judgment issued in favor... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Imerys' Settlement With Prepetition Law Firm OK'd Without Escrow Fund
Posted on 19 Dec 2019 by Mealeys

WILMINGTON, Del. - A Delaware federal bankruptcy judge on Dec. 17 approved a settlement allowing Chapter 11 debtor Imerys Talc America Inc. to pay a law firm more than $500,000 for work done preparing the talc supplier to file for bankruptcy, after altering... Read More

Mealey's Bankruptcy - Estate, Manville Broker Debate Supplemental Ruling In 2nd Circuit
Posted on 18 Dec 2019 by Mealeys

NEW YORK - Supplemental authority provided by an asbestos plaintiff's law firm to support its position that its client, not the firm, is the real party in interest for claims against a debtor's insurance broker actually back the broker's position... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - U.S. Trustee Opposes Imerys' Settlement With Prepetition Law Firm
Posted on 13 Dec 2019 by Mealeys

WILMINGTON, Del. - A proposed $500,000 settlement with a law firm to pay some of its fees for work done preparing Imerys Talc America Inc. to file a Chapter 11 petition should not be approved because the debtor failed to show that the deal is fair and... Read More

Mealey's Bankruptcy - Imerys Debtors Seek More Time To File Plan Of Reorganization
Posted on 11 Dec 2019 by Mealeys

WILMINGTON, Del. - Chapter 11 debtor Imerys Talc America Inc. on Dec. 6 asked a Delaware federal bankruptcy court to give it three more months to propose a plan of reorganization, saying the extension is "both appropriate and necessary" for... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Minnesota Court Affirms Terminated Law Firm's Fee For Asbestos Trust Work
Posted on 4 Dec 2019 by Mealeys

MINNEAPOLIS - A trial court properly analyzed all eight factors in awarding a terminated law firm a portion of a $21.5 million settlement an asbestos trust received in an insurance dispute, a Minnesota appeals court held Dec. 2 (Faricy Law Firm PA v.... Read More

Tags: Bankruptcy

Mealey's Bankruptcy - Imerys Insurers Oppose Setting Bar Date For 'Indirect' Talc Claims
Posted on 21 Nov 2019 by Mealeys

WILMINGTON, Del. - A request by Chapter 11 debtor Imerys Talc America Inc. to set a bar date for filing indirect talc claims should be denied because the debtor is not allowed to restrict claims by nondebtor parties, especially when the term "indirect"... Read More