Introduction
On August 28, 2014, the Court of Appeals for the Third Circuit[1] delivered a stern admonition about the risk of failing to appeal when it ruled that a union that had not filed a notice of appeal could not benefit from a successful appeal by another union in the same matter.
A recent pair of opinions from New York and Pennsylvania shows the importance of evaluating all parts of director and officer (D&O) insurance coverage, down to each definition. These cases, one holding for the insured and one for the insurer, demonstrate that a policy’s terms can be absolutely critical if the insured seeks indemnification for defense costs.
On June 17, 2014, a three-judge panel of the Third Circuit Court of Appeals1 vacated a District Court’s dismissal order and resuscitated a bankruptcy appeal brought by a group of litigation creditors seeking recourse against the debtors post-confirmation.2 The Third Circuit opinion is an important reminder to both debtors and creditors that the doctrine of “equitable mootness” has limits and that confirmation of a plan does not preclude review of post-confirmation actions inconsistent with obligations in the plan.
Introduction
Procedural background
Facts
Statute of limitations
Actual fraudulent conveyance
Settlement
Comment
Introduction
Background
Third Circuit's majority opinion
Dissent
Analysis
Successor claims as property of the estate
Introduction
Background
Release of non-debtors in US bankruptcy proceedings
Recognition and enforcement of foreign non-debtor releases
Limits on bankruptcy jurisdiction
The Employee Retirement Income Security Act of 1974, as amended (“ERISA”), requires trustees of multiemployer pension and benefit funds to collect contributions required to be made by contributing employers under their collective bargaining agreements (“CBAs”) with the labor union sponsoring the plans. This is not always an easy task—often, an employer is an incorporated entity with limited assets or financial resources to satisfy its contractual obligations.
Introduction
Shifting balance between international arbitration and bankruptcy
Arbitration clauses in US bankruptcy courts
Implications of Stern v Marshall