LexisNexis® Legal Newsroom
9th Circuit Denies Rehearing Ruling Sending Thorpe Case Back To Bankruptcy Court

SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on April 3 denied an en banc rehearing of its decision to remand approval of Thorpe Insulation Co.'s Chapter 11 plan of reorganization so a bankruptcy court can hear objections by insurance companies ...read more

U.S. Trustee: Kodak's Motion To Pay $13.5M In Bonuses Fails Legal Standard

NEW YORK - The U.S. trustee in the Chapter 11 bankruptcy case of Eastman Kodak Co. on April 23 filed a brief in the U.S. Bankruptcy Court for the Southern District of New York objecting to Kodak's motion seeking an order authorizing it to pay its ...read more

LexisNexis Launches Financial Restructuring & Bankruptcy Module for Lexis Practice Advisor

Easy access to practical guidance and "on point" legal content and analysis help law firms increase productivity and bring junior attorneys up to speed quickly NEW YORK - LexisNexis ® Legal & Professional, a leading provider of content and technology solutions, on May 3 announced...

Pilots: 2nd Circuit Should Rule On Collective Bargaining Issue In AMR Bankruptcy

NEW YORK - The Allied Pilots' Association (APA) on May 22 filed a brief supporting its motion seeking certification of a direct appeal to the Second Circuit U.S. Court of Appeals in the APA's adversary proceeding related to collective bargaining ...read more

5th Circuit: Fees Sought By Debtor's Attorney Properly Paid To Debtor's Lender

NEW ORLEANS - A panel of the Fifth Circuit U.S. Court of Appeals on May 24 affirmed a bankruptcy court's ruling that a debtor's attorney was not permitted to recover approved legal fees because an underlying order authorized the trustee to pay ...read more

Dewey & LeBoeuf Files For Chapter 11 Bankruptcy

NEW YORK - (Mealey's) The law firm of Dewey & LeBoeuf filed for Chapter 11 bankruptcy on May 28 in New York, listing between $100 million and $500 million in liabilities ( In re: Dewey & LeBoeuf , No. 12-12321, Chapter 11, S.D. N.Y. Bkcy.). ( Petition. Document #80-120606-030C .) ( lexis...

Judge: Sewer Income Must Be Applied To Debt Payments For Jefferson County, Ala.

BIRMINGHAM, Ala. - A federal bankruptcy judge on June 29 ruled that revenues from bankrupt Jefferson County, Ala.'s sewer facility may be used only to pay down the county's debt and cannot be used to cover legal fees and capital expenditures ...read more

Mealey's Asbestos Bankruptcy Bulletin: 3rd Circuit Upholds Conversion Of Skinner Bankruptcy To Chapter 7

PHILADELPHIA - A bankruptcy court has the authority to determine at the disclosure statement stage that a Chapter 11 reorganization plan is unconfirmable without first holding a confirmation hearing if it is obvious that the plan is patently unconfirmable ...read more

Borders Trustee Files 92nd Complaint Seeking To Recover $23 Million

NEW YORK - The liquidating trustee in the Chapter 11 bankruptcy proceeding of BGI Inc., formerly known as Borders Group Inc., on Jan. 4 filed the latest in a total of 92 adversary complaints against various creditors in the U.S. Bankruptcy Court for the ...read more

D&O Insurance: Advancing Defense Costs in Bankruptcy

After entity coverage began to be added to the D&O insurance policy a couple of decades ago, a recurring problem in the bankruptcy context was whether or not the D&O policy proceeds were property of the estate under Bankruptcy Code Section 541 (a) and subject to the automatic stay under Bankruptcy...

Couple Files Bankruptcy To Avoid Ponzi "Clawback" Lawsuit

A New Mexico couple facing the possible "clawback" of nearly $1 million from the largest Ponzi scheme in New Mexico history has filed for bankruptcy in a bid to avoid dodge the lawsuit. Mark and Maura Dahrling, of Albuquerque, New Mexico, were among hundreds of investors that lost approximately...

U.S. High Court To Rule On Bankruptcy Exemption For Inherited Retirement Accounts

WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court on Nov. 26 granted certiorari in a case in which a debtor couple contend that high court review is needed to settle a split in the circuit courts regarding whether Chapter 7 debtors are permitted to exempt money in an inherited individual...

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2nd Circuit: Bankruptcy Court Order Final; Insurers’ Deals With Asbestos Claimants Valid

NEW YORK — (Mealey's) The Second Circuit U.S. Court of Appeals on July 22 reinstated a federal bankruptcy court ruling requiring two insurance companies to pay $510 million to asbestos personal injury plaintiffs under decades-old settlements, finding that conditions precedent to payment under...