Are Buyers of Assets Acquired from Debtors in Section 363 Bankruptcy Sales Protected from Debtors’ Product Liability Claims?

Second Circuit Court of Appeals Decision in GM Cases Casts a Shadow Over Whether Section 363 Sale Orders Insulate Buyers from Debtors’ Product Liability Claims.

Filed under:
USA, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Debtor, Liability (financial accounting), General Motors, Title 11 of the US Code
Authors:
Luc A. Despins , Chris Dickerson , Matthew M. Murphy , Leslie A. Plaskon , Andrew V. Tenzer , Marc J. Carmel
Location:
USA
Firm:
Paul Hastings LLP
Delaware Bankruptcy Court Refuses to Dismiss Chapter 11 Case Despite Existence of Secured Lender’s “Golden Share” in Debtor’s Delaware LLC Agreement: Could Bankruptcy-Remote Structures Be at Risk?

I. Introduction

Filed under:
USA, Delaware, Banking, Insolvency & Restructuring, Litigation, Paul Hastings LLP, Bankruptcy, Fiduciary, Limited liability company, United States bankruptcy court
Authors:
Luc A. Despins , Chris Dickerson , Matthew M. Murphy , Leslie A. Plaskon , Andrew V. Tenzer , Marc J. Carmel
Location:
USA
Firm:
Paul Hastings LLP