Like the wild prairie rose that punctuates the North Dakota plains, the issue of whether a debtor can reject its midstream agreements is back after a brief period of dormancy. In Hot Topics in Oil and Gas Restructurings, Volume 3, we described how the U.S.
The bankruptcy of solar power developer SunEdison has been one of the most discussed topics of the US renewable energy market in 2016. Christy Rivera, partner in Chadbourne’s bankruptcy group, joins us to discuss outcomes, surprises and lessons learned from SunEdison’s bankruptcy filing.
Serving on a court-appointed bankruptcy committee can come with many benefits, and the list just got a little longer. In Blixseth v. Brown, the Ninth Circuit held that committee members enjoy some of the same protections as trustees when it comes to potential attacks for actions taken during a bankruptcy case.
FROM THE EDITOR
Vicki Dallas
Since Marblegate was decided in 2014, the only court to address claims under §316(b) of the Trust Indenture Act (“TIA”) in the context of a corporate restructuring transaction is
Originally published in the New York Law Journal
Voters in eight states, including California and Florida, recently approved ballot initiatives to legalize the recreational and medical use of marijuana. Presently, 28 states permit the use of marijuana to different extents.
The concept of “equitable mootness” is a doctrine of relatively long-standing in bankruptcy jurisprudence. It has been used by courts to avoid determination of issues raised on appeal that would require the unscrambling of a plan previously confirmed and implemented. However, that doctrine has recently been questioned in a variety of decisions. It appears that the scope of equitable mootness is clearly ebbing. In that context, a recent decision by this Sixth Circuit Court of Appeals provides an opportunity to further examine the doctrine.
The U.S. Fifth Circuit Court of Appeals recently upheld summary judgment dismissing all claims against an insurer based on a bankruptcy and creditors exclusion in the insured’s directors and officers (“D&O”) policy. Markel Am. Ins. Co. v. Huibert Verbeek, No. 1:15-51099 (5th Cir. Sept. 27, 2016).
(6th Cir. B.A.P. Nov. 29, 2016)
(Bankr. W.D. Ky. Dec. 1, 2016)
Following trial, the bankruptcy court excepts from discharge a debt arising from a loan, but holds the plaintiff failed to meet its burden with respect to other debts. The court also finds that a lien was not created where there was no proof of an actual levy, but a seperate judgment lien is held valid. The court denies the debtor’s motion to avoid the lien. Opinion below.
Judge: Stout
Attorneys for Plaintiff: Thomas, Arvin & Adams, James G. Adams, III, David E. Arvin