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...
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...
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...
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...
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...
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...
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...
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...
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...
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...
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.).