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    Of Standing and Stonewalling: Chester, Pennsylvania Bankruptcy Sheds New Light on Chapter 9 Eligibility Requirements
    2023-04-13

    On March 14, 2023, Judge Ashely M. Chan of the U.S.

    Filed under:
    USA, Pennsylvania, Employment & Labor, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Mediation
    Authors:
    Ivan Loncar , Casey Servais , Lary Stromfeld , Thomas Curtin , Marc Veilleux
    Location:
    USA
    Firm:
    Cadwalader Wickersham & Taft LLP
    Eligibility For Chapter 9—Over Objections Of Mayor & City Council? (City Of Chester, PA)
    2023-03-21

    City of Chester is the oldest city in Pennsylvania, incorporated as a borough in 1701 and as a city in 1866, and is located on the Delaware River between Philadelphia and Wilmington.

    Unfortunately, the City is also in Chapter 9—having filed bankruptcy on November 10, 2022.

    The City’s bankruptcy filing causes a ruckus because:

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Koley Jessen PC
    Authors:
    Donald L. Swanson
    Location:
    USA
    Firm:
    Koley Jessen PC
    A 2021 Look at Bankruptcy Trust and Transparency Issues in Asbestos Litigation, Part III: Fixing the Disconnect Between the Tort and Trust Systems
    2021-08-03

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, SandRun Risk
    Authors:
    Lori Siwik , Mark Siwik
    Location:
    USA
    Firm:
    SandRun Risk
    Court Permits Election Of Sub Chapter V Small Business Case; Construes §1111(b) Election
    2020-12-03

    Summary of decisions In re Body Transit, Inc., No. BR 2010014 ELF, 2020 WL 1486784 (Bankr. E.D. Pa. Mar. 24, 2020).

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Reed Smith LLP, Coronavirus, United States bankruptcy court
    Authors:
    Derek J. Baker
    Location:
    USA
    Firm:
    Reed Smith LLP
    Fraudulent Transfer Claims Avoid State Sovereign Immunity, But Only If a Property Interest Exists Under State Law
    2020-01-31

    In a recent decision, In re Philadelphia Entertainment and Development Partners, L.P., No. 14-000255-mdc (Bankr. E.D. Pa. Dec. 31, 2019), the Bankruptcy Court for the Eastern District of Pennsylvania held that state sovereign immunity does not prevent bankruptcy courts from hearing fraudulent transfer claims against states.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor
    Authors:
    Ronit J. Berkovich , Patrick Feeney
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    No Dice: State Law Precludes Recovery of $50,000,000 Gaming License Fee
    2020-01-14

    In 2007, Philadelphia Entertainment and Development Partners, LP dba Foxwoods Casino Philadelphia (“Plaintiff”) secured a gaming license from Pennsylvania for $50,000,000 with the understanding that it open its casino business within one year. Plaintiff failed to do so and, despite a number of extensions, Pennsylvania cancelled and revoked the gaming license in December 2010. Without a gaming license, Plaintiff found itself in chapter 11 by spring of 2014.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Leisure & Tourism, Litigation, Nelson Mullins Riley & Scarborough LLP, United States bankruptcy court
    Authors:
    Shane G. Ramsey , Woods Drinkwater
    Location:
    USA
    Firm:
    Nelson Mullins Riley & Scarborough LLP
    Outcome of Instant Matter Would Not Impact Non-Party Talc Supplier’s Pending Bankruptcy Estate, Remand Ordered
    2019-05-31

    United States District Court, W.D. Pennsylvania, May 30, 2019

    PENNSYLVANIA – The defendant Johnson & Johnson (J&J), in a topic that has been extensively covered by the Asbestos Case Tracker, indicated in its notice of removal that this case is one of many in the United States which involve claims concerning personal injuries and deaths allegedly caused by J&J’s cosmetic talc. J&J’s motion further indicates that the “sole supplier” of the talc which the defendant used in its product, filed for bankruptcy under Chapter 11.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Personal Injury, Goldberg Segalla LLP
    Authors:
    James F. Coleman
    Location:
    USA
    Firm:
    Goldberg Segalla LLP
    Going Once, Going Twice: Avoiding a Prepetition Foreclosure Sale in Chapter 11
    2018-10-22

    Among the many protections afforded creditors under the Bankruptcy Code is the estate’s ability to avoid transfers made before the petition date that benefit certain creditors at the expense of others. These so-called avoidance actions are primarily governed by Sections 544, 547 and 548 of the Bankruptcy Code, which set forth the requirements for challenging prepetition transfers as preferential or fraudulent.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, US Congress, Supreme Court of the United States, United States bankruptcy court, Third Circuit, US District Court for Western District of Pennsylvania
    Authors:
    Jessica Liou
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    PA Supreme Court Holds Borrower Not Entitled to Atty’s Fees for Aff Def Under Act 6
    2018-06-12

    The Supreme Court of Pennsylvania recently held that a borrower is not entitled to attorney’s fees under the Pennsylvania Loan Interest Law (“Act 6”) relating to an affirmative defense raised in a mortgage foreclosure action that was subsequently discontinued without prejudice.

    Filed under:
    USA, Pennsylvania, Banking, Insolvency & Restructuring, Litigation, Real Estate, Maurice Wutscher LLP, Mortgage loan, Foreclosure, Pennsylvania Supreme Court
    Authors:
    Shannon Miller
    Location:
    USA
    Firm:
    Maurice Wutscher LLP
    Pennsylvania Appellate Court Affirms Order Granting of Summary Judgment to Title Insurer Based on Survey Exception
    2018-02-27

    The Superior Court of Pennsylvania recently affirmed a trial court’s order granting a title insurance company summary judgment based on a defect that a survey of the premises would have shown. SeeKreider v. Correia, 2018 WL 359285 (Pa. Super. Ct. Jan. 11, 2018). In the case, the plaintiff insured purchased a property after the lender had obtained it via a foreclosure (the “Property”). Before plaintiff purchased it, the real estate agent informed him that the Property included a two-car garage and some other surrounding land.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Insurance, Litigation, Real Estate, Riker Danzig LLP, Foreclosure, Title insurance, Superior Court of Pennsylvania
    Authors:
    Michael R. O’Donnell
    Location:
    USA
    Firm:
    Riker Danzig LLP

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