The doctrine of equitable mootness provides that Chapter 11 reorganization plans will be deemed moot, and therefore not subject to appellate review, if a plan has been substantially consummated and granting appellate relief would impair the rights of innocent third parties relying on the confirmation order.
In a 6-3 ruling, the U.S. Supreme Court held that bankruptcy courts have the authority to adjudicate Stern claims so long as the litigant parties provide “knowing and voluntary consent.” This decision in Wellness International Network, et. al. v. Richard Sharif provides much needed guidance as to the breadth and applicability of the Supreme Court’s 2011 decision in Stern v.
In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch.
A new Statement of Insolvency Practice (SIP16) is expected to be published in March 2015, aimed at improving the framework and operation of pre-pack administrations. This follows the Graham Review, and its report published in June 2014. In this article, we explore the existing pre-pack structure, its shortcomings and how the changes expected might affect insolvency practitioners and their insurers.
Background
In In re Bernard L. Madoff Investment Securities LLC, No. 14-97-bk(L), 2015 WL 727965 (2d Cir. Feb.
There has been recent high-level review of the application of the doctrine of ex turpi causa to claims involving fraudulent directors, in the context of insolvency litigation. The doctrine defined at its simplest is that no action can be founded on illegal or immoral conduct – a legal form of fair play. In October 2014 the Supreme Court heard the appeal in Jetivia SA v Bilta (UK) Limited (Bilta).
In our recent article of 4 November 2014 we referred to a new case where the controversial decision in Raithatha v Williamson would be reconsidered.
On 17 December 2014 the High Court handed down judgment in the case of Horton v Henry. The decision has been highly anticipated.
The High Court has declined to follow an earlier decision and ruled that a trustee in bankruptcy could not gain access to pensions benefits that were not already in payment.
In June 2014, the new insolvency complaints gateway celebrated its first birthday. This was followed by a report assessing its performance against a number of rather challenging ambitions. We analyse the report’s findings and the effect of the gateway to date on consumers, insolvency practitioners and their insurers.
Background