LexisNexis® Legal Newsroom
NYCAL Justice Ends Deferral of Punitive Damages, Keeps CMO Intact

NEW YORK — (Mealey’s) Continued deferral of punitive damages in New York City Asbestos Litigation (NYCAL) unfairly prejudices plaintiffs, and fears of runaway verdicts bankrupting defendants appear overblown in light of the standard necessary for such awards, a New York justice held today...

Loan to Moan? Judge Limits Right to Credit Bid in Chapter 11 Case of Free Lance-Star Publishing Co.

by Ben Feder A few months ago, a ruling in the Chapter 11 case of Fisker Automotive narrowed a secured creditor’s right to credit bid its debt in connection with a sale of the debtor’s assets. The decision surprised many observers and resurrected uncertainty about a debtor’s ability...

Fifth Circuit Panel Urges Re-Examination of Pro-Snax

The Fifth Circuit ruled on July 15 that a bankruptcy court following Matter of Pro-Snax Distributors, Inc. , 157 F.3d 414 (5th Cir. 1997) did not abuse its discretion in substantially reducing fees requested by counsel in a failed chapter 11 case. The Debtor's counsel argued that Pro-Snax was subject...

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...

Two Cases Illustrate How to Bring a Chapter 11 Case to a (Successful) End

This is an article about the end of a Chapter 11 case. As the Doors put it: This is the end Beautiful friend This is the end My only friend, the end Of our elaborate plans, the end Of everything that stands, the end No safety or surprise, the end All cases must come to an end. Sometimes they...

Sands Anderson Report on First Day Hearing in Bankruptcy Filings of Alpha Natural Resources

by Roy M. Terry, Jr. Lawyers from the bankruptcy team of Sands Anderson attended “first day” hearings in the Chapter 11 bankruptcy case of Alpha Natural Resources, Inc. (“Alpha”) and its 149 related companies held on August 4, 2015 in the United States Bankruptcy Court, Eastern...

Sands Anderson Report on Creditors Committee Formation in Alpha Natural Resources Chapter 11

by Roy M. Terry, Jr. An Official Committee of Unsecured Creditors (“the Committee”) was appointed on Wednesday, August 12, 2015 in the Chapter 11 case of Alpha Natural Resources, Inc. (“ ANR “). ANR’s bankruptcy case was filed on August 3, 2015 in the United States Bankruptcy...

Energy Future Holdings – Another Major Success for Chapter 11 Mediation?

by Ben Feder Mediation has become an invaluable tool in large chapter 11 cases . Traditionally viewed as a means for resolving discrete disputes between a debtor’s estate and an adversary party, in recent years mediation in certain complex cases has evolved into a multi-party undertaking involving...