Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Claims trader alert
    2013-11-21

    A ruling handed down by the Third Circuit Court of Appeals on November 15, 2013, adds yet another chapter to the ongoing controversy concerning whether sold or assigned claims can be subject to disallowance under section 502(d) of the Bankruptcy Code on the basis of the seller’s receipt of a voidable transfer. The decision—In re KB Toys Inc., 2013 WL 6038248 (3d Cir. Nov. 15, 2013)—is an unwelcome missive for claims traders. For the first time since the enactment of the Bankruptcy Code in 1978, a circuit court of appeals has concluded that:

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Second Circuit, Third Circuit
    Location:
    USA
    Firm:
    Jones Day
    FLYi, Inc — important application of Owens-Corning standard for substantive consolidation by Delaware bankruptcy court
    2007-05-31

    On March 15, 2007, with Jones Day’s assistance as bankruptcy counsel, FLYi, Inc. (“FLYi”), Independence Air, Inc. (“Independence”) and their affiliated debtors (collectively, the “Debtors”) obtained confirmation of their chapter 11 plan under the “cramdown” provisions of the Bankruptcy Code. The plan, which become effective on March 30, 2007, will distribute approximately $150 million to unsecured creditors. In ruling on confirmation of the plan, the U.S.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Debtor, Unsecured debt, Federal Reporter, Hedge funds, Liquidation, Holding company, United Airlines, United States bankruptcy court, Third Circuit, US District Court for District of Delaware
    Location:
    USA
    Firm:
    Jones Day
    First impressions: shutting down a chapter 11 case due to patent unconfirmability of plan
    2012-10-01

    Before soliciting votes on its bankruptcy plan, a chapter 11 debtor that has filed for bankruptcy typically must obtain court approval of its disclosure statement. As part of the disclosure-statement approval process, interested parties are afforded the opportunity to object. For example, a party may object on the grounds that the disclosure statement lacks sufficient information about the debtor. Sometimes, however, a party objects to the disclosure statement because the chapter 11 plan described by the statement cannot be confirmed.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Bankruptcy, Debtor, Liquidation, Third Circuit
    Location:
    USA
    Firm:
    Jones Day
    Wright v. Owens Corning - debtors remain in the “shadow of Frenville”
    2012-10-01

    In 1984, the Third Circuit was the first court of appeals to examine the Bankruptcy Code’s new definition of “claim” in Avellino & Bienes v. M. Frenville Co. (In re M. Frenville Co.), 744 F.2d 332 (3d Cir. 1984). Focusing on the “right to payment” language in that definition, the court decided that a claim arises when a claimant’s right to payment accrues under applicable nonbankruptcy law. This “accrual” test was widely criticized by other circuit courts as contradicting the broad definition of “claim” envisioned by Congress and the Bankruptcy Code.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Debtor, Due process, Third Circuit
    Authors:
    Paul M. Green
    Location:
    USA
    Firm:
    Jones Day
    Federal-mogul global: a victory for bankruptcy asbestos trusts
    2012-10-01

    Affirming the bankruptcy and district courts below, the Third Circuit Court of Appeals, in In re Federal-Mogul Global Inc., 684 F.3d 355 (3d Cir. 2012), held that a debtor could assign insurance policies to an asbestos trust established under section 524(g) of the Bankruptcy Code, notwithstanding anti-assignment provisions in the policies and applicable state law.

    Asbestos Trusts in Bankruptcy

    Filed under:
    USA, Insolvency & Restructuring, Insurance, Litigation, Jones Day, Bankruptcy, Debtor, Federal Reporter, Ninth Circuit, Third Circuit
    Authors:
    Ben Rosenblum
    Location:
    USA
    Firm:
    Jones Day
    Section 506(a): why “wait-and-see” won’t work to value secured-creditor claims
    2012-08-01

    Section 506(a) of the Bankruptcy Code contemplates bifurcation of a debtor's obligation to a secured creditor into secured and unsecured claims, depending on the value of the collateral securing the debt. The term "value," however, is not defined in the Bankruptcy Code, and bankruptcy courts vary in their approaches to the meaning of the term. In In re Heritage Highgate, Inc., 679 F.3d 132 (3d Cir.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Jones Day, Debtor, Unsecured debt, Collateral (finance), Fair market value, Secured creditor, United States bankruptcy court, Third Circuit
    Authors:
    Lauren M. Buonome , Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Third circuit reaffirms viability of deepening insolvency claim
    2012-02-01

    In Official Committee of Unsecured Creditors v. Baldwin (In re Lemington Home for the Aged), 659 F.3d 282 (3d Cir. 2011), the Third Circuit Court of Appeals held, among other things, that the “deepening insolvency” cause of action, which the Third Circuit previously recognized in Official Committee of Unsecured Creditors v. R.F. Lafferty & Co., 267 F.3d 340 (3d Cir. 2001), remains an independent cause of action under Pennsylvania law.

    Background

    Filed under:
    USA, Pennsylvania, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Jones Day, Fiduciary, Federal Reporter, Negligence, Third Circuit
    Location:
    USA
    Firm:
    Jones Day
    Awkward: Old Friend From Church Blocks Discharge of Student Loan Debt
    2018-04-02

    Providing an exception to the axiom that no good deed goes unpunished, a Texas bankruptcy court recently declared nondischargeable a debt owed to a guarantor who had been forced to pay the debtor’s defaulted student loan.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, Bryan Cave Leighton Paisner (Bryan Cave), Title 11 of the US Code, Third Circuit, US District Court for Southern District of Texas
    Authors:
    William Maloney
    Location:
    USA
    Firm:
    Bryan Cave Leighton Paisner (Bryan Cave)
    Federal Appellate Court Rules That Post-Acceleration Payment in Bankruptcy Constitutes Optional Redemption
    2016-12-06

    The linked Mintz Levin client advisory discusses a recent Third Circuit Court of Appeals ruling that held a “make-whole” optional redemption premium to be due upon a refinancing of corporate debt following its automatic acceleration upon bankruptcy.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Mintz, Third Circuit
    Authors:
    Leonard Weiser-Varon
    Location:
    USA
    Firm:
    Mintz
    Third Circuit Court of Appeals Permits Chapter 11 Debtor to Reject Expired CBA
    2016-01-26

    It is a familiar scenario: a company is on the verge of bankruptcy, bound by the terms of a collective bargaining agreement (CBA), and unable to negotiate a new agreement.  However, this time, an analysis of this distressed scenario prompted a new question: does it matter if the CBA is already expired, i.e., does the Bankruptcy Code distinguish between a CBA that expires pre-petition versus one that has not lapsed?

    Filed under:
    USA, Employment & Labor, Insolvency & Restructuring, Litigation, Mintz, Debtor, Third Circuit
    Location:
    USA
    Firm:
    Mintz

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 52
    • Page 53
    • Page 54
    • Page 55
    • Current page 56
    • Page 57
    • Page 58
    • Page 59
    • Page 60
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days