Known or unknown? Third Circuit questions standing in New Century appeal

In the latest chapter of the New Century bankruptcy cases, the Court of Appeals for the Third Circuit vacated a district court’s decision on the sufficiency of the debtors’ publication notice and remanded the case back to the district court to determine the critical issue of whether the plaintiff-appellees were known creditors entitled to actual notice. 

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Standing (law), United States bankruptcy court, Third Circuit
Authors:
Debora Hoehne
Location:
USA
Firm:
Weil Gotshal & Manges LLP
Equitable mootness on life support: the Third Circuit further pares back the abstention doctrine in One2One Communications

“It’s not that I’m afraid to die, I just don’t want to be there when it happens.”  — Woody Allen

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Third Circuit
Location:
USA
Firm:
Weil Gotshal & Manges LLP
In re Jevic Holding Corp. part II: in a close call, Third Circuit approves settlement agreement and structured dismissal that deviate from Bankruptcy Code’s priority scheme

Benjamin Franklin is quoted as having said “in this world nothing can be said to be certain, except death and taxes.”  No offense to Mr. Franklin, but we had always thought that there was at least one other certainty in this world—in a bankruptcy case, creditors get paid pursuant to the priority scheme under section 507(a) of the Bankruptcy Code.  It turns out, however, that Mr.

Filed under:
USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court, Third Circuit
Location:
USA
Firm:
Weil Gotshal & Manges LLP