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U.S. Supreme Court: Debtors’ Insurance Company Has Standing to Be Heard in Chapter 11 Proceeding

The U.S. Supreme Court held last week in Truck Insurance Exchange v. Kaiser Gypsum Co. that an insurance company with financial responsibility for bankruptcy claims is a “party in interest” with the right to object to a Chapter 11 reorganization plan.

Section 1109(b) of the Bankruptcy Code provides:

USA, Insolvency & Restructuring, Litigation, Frost Brown Todd LLP, Bankruptcy, Supreme Court of the United States, Fourth Circuit
There is a first time for everything - US bankruptcy plan for Australian debtor

Need to know

In a first for the US and Australian markets, the Buccaneer Energy group of companies successfully had bankruptcy plans approved by the US Bankruptcy Court for both US and Australian incorporated debtor companies. 

Australia, USA, Insolvency & Restructuring, Litigation, Baker McKenzie, Bankruptcy, Debtor
ABI publishes its review of US Chapter 11 bankruptcy

"Once in a generation" review

Shortly before the Christmas break, the much anticipated review of the United States "Chapter 11 bankruptcy" regime was published by the American Bankruptcy Institute (ABI). This is one of very few such major "root and branch" reviews of Chapter 11 since its enactment in 1978, and the first since the 1990s.

Australia, USA, Insolvency & Restructuring, Baker McKenzie, Bankruptcy