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    Wholesale Assignment of Causes of Action Does Not Establish “Related To” Jurisdiction in Delaware Bankruptcy Court
    2016-06-22

    Who doesn’t love a good catch-all provision? In a world of infinite possibilities, attorneys often find themselves drafting language designed to encompass a plethora of contingencies. Are such efforts sometimes overkill? Perhaps. Nevertheless, given our imperfect ability to predict the future, such provisions are often necessary and appropriate.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, Fiduciary, Liquidation, Subject-matter jurisdiction, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Not So Fast: Sixth Circuit Dismisses Appeal of Bankruptcy Court Order Denying Approval of Proposed Settlement Agreement For Lack of Jurisdiction
    2016-06-16

    For those interested in a quick read with some juicy facts and egregious acts by the relevant practitioners, check out the recent opinion in Church Joint Venture, L.P. v. Blasingame (In re Blasingame), where the Sixth Circuit Court of Appeals held that an order denying approval of a proposed settlement agreement was not a final order susceptible to appeal as of right.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court, Sixth Circuit
    Authors:
    Matthew Goren
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    All That Glitters: Golden Share Can’t Dismiss Bankruptcy
    2016-06-13

    In In re Intervention Energy Holdings, LLC, the question before the United States Bankruptcy Court for the District of Delaware was whether an investor who “bought and paid for [one] Common Unit (including all rights related thereto),”

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Shareholder, Debtor, Fiduciary, Limited liability company, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    When is Conduct Ordinary Enough to Constitute Conduct in the “Ordinary Course of Business”?
    2016-06-14

    A recent decision from the United States Bankruptcy Court for the Western District of Texas caught our eye because of the unconventional opening line:

    “Summers are hot in Texas, so pools are a hot item. But not hot enough to help a pool installer [ . . . ] avoid bankruptcy” – Judge Tony M. Davis, United States Bankruptcy Judge.

    Filed under:
    USA, Texas, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Barred by Res Judicata & Judicially Estopped - Court Finds That Netflix Has No Chill
    2016-06-15

    By now (unless you’ve been living under a rock), we’re all familiar with the expression, “Netflix and chill.” It’s everywhere. Flooding your Instagram feed with duplicitous memes. Halloween costumes. Really, really bad pick-up lines. Like the many trite colloquialisms that have come before it, Netflix and chill’s ubiquity has begun to wane with overuse and time.

    Filed under:
    USA, New York, Arbitration & ADR, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Res judicata and issue estoppel, Netflix, Supreme Court of the United States
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Third Circuit Adopts Nuanced View of “Equal Treatment” in Context of Pre-Plan Settlement Offers
    2016-06-10

    The question of what constitutes “equal treatment” is a question as old as law itself. Though a favored topic by the Aristotles and the Rousseaus of the world, the question is not entirely esoteric. The concept plays a central role in the law of bankruptcy – courts occasionally describe the principle of equitable distribution between similarly situated creditors as one of the “pillars” of the Bankruptcy Code.

    Filed under:
    USA, Delaware, Company & Commercial, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Debtor, Division of property, Third Circuit
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Keep Your Fights Out of Bankruptcy Court: Bad Faith Involuntary Petitions
    2016-06-09

    Creditors seeking to file an involuntary petition against a debtor may want to consider doing their due diligence before using it as a tool in their ongoing disputes with a debtor.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Due diligence, Bad faith, Collateralized debt obligation, United States bankruptcy court, US District Court for District of Delaware
    Authors:
    Daniel Gwen
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    MLB, McCourt and Magic: Revisiting the Los Angeles Dodgers’ Bankruptcy Five Years Later
    2016-06-06

    This month marks the five year anniversary of the Los Angeles Dodgers’ chapter 11 filings. As a changeup from the world of oil and gas, we’ve prepared a light lookback to the ball club’s bankruptcy.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Media & Entertainment, Weil Gotshal & Manges LLP, United States bankruptcy court
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Not All “Claims” Were Created Equal
    2016-06-07

    Courts have applied various standards for determining when a “claim” arises for the purposes of the Bankruptcy Code, particularly in the tort context. A recent decision from the United States Bankruptcy Court for the Western District of Pennsylvania illustrates that the standard may differ depending on whether the claim in question is a creditor’s claim against the debtor’s estate or a debtor’s claim against a third-party.

    Filed under:
    USA, Pennsylvania, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court
    Authors:
    Moshe Fink
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP
    Keep to the Schedule: How a Failure to List Affirmative Claims in a Debtor’s Schedules Can Preclude Recovery in Future Actions
    2016-06-08

    The preparation and filing of a debtor’s schedules of assets and liabilities is a routine but important aspect of nearly every bankruptcy case. A debtor’s schedules provide critical information to creditors and other parties in interest, the Office of the United States Trustee, and the bankruptcy court.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, Bankruptcy, Debtor, Estoppel, Civil Rights Act 1964 (USA), Title 11 of the US Code
    Location:
    USA
    Firm:
    Weil Gotshal & Manges LLP

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