While bankruptcy law and tort law may not seem related, it is important to know if your client has ever gone through a bankruptcy and, if so, the terms of its plan of reorganization. A recent Eighth Circuit decision confirmed the importance of knowing the ins and outs of a client’s bankruptcy and the terms of the applicable plan.
USA, Aviation, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Bankruptcy, Liability (financial accounting), Bankruptcy discharge, Eighth Circuit
The liquidator of Onslow Ditching Ltd (ODL), sought a declaration against two directors (on three grounds), seeking damages/fines or a contribution of assets from each director for:
United Kingdom, Company & Commercial, Insolvency & Restructuring, Litigation, Locke Lord LLP, Unsecured debt, Breach of contract, Fiduciary, Liability (financial accounting), Liquidation, Balance sheet, Liquidator (law), High Court of Justice (England & Wales)