On June 23, 2011, the Supreme Court handed down a 5-4 decision in the Stern v.

Unless you’re not a sports fan or simply don’t follow Major League Baseball (MLB), you probably know that the Los Angeles Dodgers filed a chapter 11 bankruptcy petition on Monday, June 27, 2011. (Delaware Bankruptcy Court, Case Number 11-12010.) According to Forbes magazine, the Dodgers are one of the most valuable baseball franchises in America. Nevertheless, the franchise hit hard times and filed for bankruptcy.

In its recent opinion in Jerome Listecki, as Trustee of the Archdiocese of Milwaukee Catholic Cemetery Perpetual Care Trust v. Official Committee of Unsecured Creditors, 2015 WL 1010089 (7^th Cir.

What does Memorial Day weekend mean to you?  Perhaps it means having a nice long weekend with family and friends?  Or spending hours sitting in traffic with all the people who are getting away from it all for the weekend?  Or maybe you are a traditionalist and will spend the weekend getting all of your white clothes out of Manhattan Mini Storage.  Well, for the Weil Bankruptcy Blog, the start of Memorial Day weekend means one thing — the return of Bankruptcy Beach Reading.

In In re Filene’s Basement, LLC,¹ the United States Bankruptcy Court for the District of Delaware considered the rejection damages a landlord claimant was entitled to pursuant to Section 502(b)(6) of the Bankruptcy Code after the debtor rejected its lease as part of its reorganization plan.

Last month, the Supreme Court sent to Congress amendments to the Federal Rules of Bankruptcy Procedure and Federal Rules of Civil Procedure. These Amendments will become effective on December 1, 2015, absent Congressional action blocking the changes. The Bankruptcy Rule change only impacts Rule 1007.

The Delaware Court of Chancery recently issued an opinion in Quadrant Structured Products Company¹that addresses creditors’ rights to bring derivative lawsuits against directors and officers of a corporation.  The Court held that Delaware law does not impose a continuous insolvency requirement and that the “traditional balance sheet test” is the appropriate test for determining solvency.  The opinion also provides a roadmap on the current landscape under Delaware law for analyzing breach of fiduciary duty claims. 

On May 21, 2015, the United States Court of Appeals for the Third Circuit answered the long-asked question of whether structured dismissals are permissible under the Bankruptcy Code with a resounding yes.

This morning, the Supreme Court issued its decision in the much-anticipated Wellness International Network, Ltd. v. Sharif.  And finally, the various opinions of the Court have offered some meaningful guidance on some of the key issues raised in the wake of Stern v.

Delaware has long been the bellwether for law concerning the duties that corporate officers and directors owe to a company and its creditors, and Florida courts often look to Delaware cases and compelling authority in evaluating disputes alleging breaches of fiduciary duties by directors or officers.  A recent significant Delaware opinion has helped clarify what duties officers and directors owe to whom and when.  In Quadrant Structured Products Co. v. Vertin, 2015 WL 2062115 *1 (Del. Ch.