Third-party non-debtor releases in the Second Circuit

Between 2008 and 2010, the Second Circuit Court of Appeals (the Second Circuit) revisited the circumstances under which it would approve third-party non-debtor releases in Chapter 11 plans of reorganization. Traditionally, the Second Circuit found such releases to be appropriate if the bankruptcy case had certain special — “unique” — circumstances.1 InIn re Johns-Manville Corp., 517 F.3d 52 (2d. Cir.

Filed under:
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Conflict of laws, Debtor, Injunction, Subject-matter jurisdiction, Second Circuit, United States bankruptcy court, Fifth Circuit
Authors:
Roger G. Schwartz
Location:
USA
Firm:
Latham & Watkins LLP
Circuit court reverses district court, upholds the bankruptcy court’s decision in TOUSA

Senior Transeastern Lenders v. Official Comm. Of Unsecured Creditors of TOUSA, Inc. (In re TOUSA, Inc.), 2012 US App. LEXIS 9796 (11th Cir. May 15, 2012)

Filed under:
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Bankruptcy, Debtor, Debt, Default (finance), United States bankruptcy court, Eleventh Circuit
Authors:
Mark A. Broude , Roger G. Schwartz , Karen S. Goldstein
Location:
USA
Firm:
Latham & Watkins LLP
Circuit court reverses district court, upholds the bankruptcy court’s decision in TOUSA

Senior Transeastern Lenders v. Official Comm. Of Unsecured Creditors of TOUSA, Inc. (In re TOUSA, Inc.), 2012 US App. LEXIS 9796 (11th Cir. May 15, 2012)

Filed under:
USA, Insolvency & Restructuring, Litigation, Latham & Watkins LLP, Bankruptcy, Debtor, Debt, Default (finance), United States bankruptcy court, Eleventh Circuit
Authors:
Mark A. Broude , Roger G. Schwartz , Karen S. Goldstein
Location:
USA
Firm:
Latham & Watkins LLP