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Has new NSW insurance legislation created more problems than it has solved for claimants, creditors and insolvency practitioners?

In June 2017, the New South Wales Parliament introduced the Civil Liability (Third Party Claims Against Insurers) Act 2017 (NSW Act), designed to clarify the rights of claimants to proceed directly against insurance companies. But in the context of insolvent corporations, has it created more problems than it has solved?

Australia, New South Wales, Insolvency & Restructuring, Insurance, Litigation, Corrs Chambers Westgarth, Corporations Act 2001 (Australia)
Delaware Bankruptcy Court Approves Separate Classification and Disparate Gifted Consideration Between General Unsecured Creditors

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USA, Delaware, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
California Court Upholds Expansive Definition of Recoupment

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USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Medicaid, Ninth Circuit, US District Court for Central District of California
Hospital Sales: No State Approval Required for Non-Operating Debtor

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USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
In re Lutz - A Value’d Decision Under Section 363(f)(3)

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The Bankruptcy Court for the District of New Jersey denied the Debtors’ request for approval of a sale of property free and clear of liens encumbering the property. The court determined that the term “value” in section 363(f)(3) of the Bankruptcy Code referred to the face value of all liens on the property and not the “economic value”. Because the value of liens encumbering the property in this case exceeded the proposed sale price, the property could not be sold free and clear of all liens pursuant to section 363(f)(3).

USA, New Jersey, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP