Mealey's Bankruptcy - 3rd Circuit: Creditor's Claims 'Plainly' Disallowed Under Bankruptcy Code

Mealey's Bankruptcy - 3rd Circuit: Creditor's Claims 'Plainly' Disallowed Under Bankruptcy Code

PHILADELPHIA - A panel of the Third Circuit U.S. Court of Appeals on May 6 affirmed a ruling that denied a creditor's claim in a Chapter 11 bankruptcy on grounds that the claims "plainly satisfy the criteria for disallowance" under 11 U.S. Code Section 502(e)(1)(B) (In Re: Caribbean Petroleum Corp., No. 13-2326, Chapter 11, 3rd Cir.; 2014 U.S. App. LEXIS 8471).

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