Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
In an 19 page opinion issued April 1, 2015 in the SS Body Armor I, Inc. Bankruptcy (10-11255), Judge Sontchi held that an action to compel a shareholder meeting is not barred by the automatic stay of 11 U.S.C. 362. The Opinion is Available Here.
Background
This case if full of drama; the Debtors’ former…
In a 21 page opinion (the “Opinion”) released February 20, 2015, in the Trump Entertainment Resorts, Inc bankruptcy (Case No. 14-12103), Judge Gross, granted the motion of Trump AC Casino Marks, LLC (“Trump AC”) to modify the automatic stay to allow litigation to proceed, which could result in termination of their license with the Debtors. …
In ruling on a very unfortunate situation (more on that below), Judge Shannon issued an opinion on July 24, 2014 in the Aro bankruptcy, holding that a state court decision concerning the validity of a lien cannot be challenged in Bankruptcy Court. In the opinion in this case issued on January 22, 2015 (the “Opinion”),…
In a 9-page opinion released December 30, 2014 in the Xchange Technology Group bankruptcy (Bank. D. Del. 13-12809), Judge Gross provides a reminder that capital leases are not treated the same as a true lease (or operating lease). Judge Gross’ opinion is available here (the “Opinion”). The Opinion decided the motion (“Motion”) of Winthrop Resources…
The efficient manner of speech which Judge Walsh employs during hearings shines through in this opinion released December 5, 2014 in the Worldspace bankruptcy (Bank. D. Del. 08-12412). In 3-1/2 pages of his opinion, Judge Walsh explains the requirements of a motion for reconsideration and illustrates the weakness of the movant’s position. Judge Walsh’s opinion…
Summary
In an 8 page decision signed February 21, 2013, Judge Gross of the Delaware Bankruptcy Court denied a Motion for Enlargement of Administrative Claim, holding that the movant failed to prove excusable neglect. Judge Gross’s opinion is available here (the “Opinion”).
The Opinion analyzes the motion pursuant to the excusable neglect factors provided…
The Third Circuit released a precedential opinion on May 14, 2012 that can greatly impact bankruptcy debtors attempting to reorganize as well as their secured creditors. A copy of the opinion is available here (the “Opinion”). Because Fox Rothschild was directly involved in this case and argued before the Third Circuit, I will only…
Summary
In a straight-forward 9 page decision signed May 1, 2012, Judge Walrath of the Delaware Bankruptcy Court granted a defendant’s motion to dismiss a preference complaint, but granted the plaintiff leave to amend. Judge Walrath’s opinion is available here (the “Opinion”). Numerous posts on this blog discuss other opinions issued by the Delaware…
Summary
In an 18 page decision signed April 12, 2012, Judge Walsh of the Delaware Bankruptcy Court provided a fairly thorough analysis of the effect of the Stern v. Marshall opinion issued by the Supreme Court, in his opinion denying a motion to dismiss. Judge Walsh’s opinion is available here (the “Opinion”). A blog…
In a 17 page decision entered March 9, 2012, Judge Carey of the Delaware Bankruptcy Court granted a motion for relief from the Bankruptcy Code’s automatic stay to allow an undersecured creditor to exercise its remedies against a debtor’s collateral. A copy of Judge Carey’s opinion is available here (the “Opinion”). The Opinion was issued…
