Information on Corporate Bankruptcy Proceedings in Delaware and Throughout the United States
Summary
In a 28 page decision dated March 9, 2012, Judge Carey of the Delaware Bankruptcy Court denied confirmation of a debtor’s plan and granted the motion to lift the automatic stay filed by a creditor with a lien against a majority of the debtor’s assets. Judge Carey’s opinion is available here (the “Opinion”). A…
On March 14, 2012, Judge Sontchi of the Delaware Bankruptcy Court issued an opinion in the Carolina Fluid Handling Intermediate Holding Corp. bankruptcy case. When a Fox Rothschild client is (or could be) affected by a ruling, rather than summarize the opinion, I will be providing a link to the opinion. The opinion is available…
Summary
In an opinion issued January 4, 2012, Judge Sontchi of the Delaware Bankruptcy Court provided an easy to follow primer in preference law in the course of granting in part and denying in part a preference defendant’s motion for summary judgment. Judge Sontchi’s opinion is available here (the “Opinion”). The Opinion provides an…
Summary
In a very easy to follow opinion issued October 21, 2011, Judge Sontchi of the Delaware Bankruptcy Court denied a motion to dismiss an avoidance action for improper venue or, in the alternative, to transfer venue of the action. Judge Sontchi’s opinion is available here (the “Opinion”). The Opinion provides an excellent framework…
Summary
In a 23 page decision signed July 15, 2011, Judge Walsh of the Delaware Bankruptcy Court denied a motion to allow a plaintiff to file an amended complaint, holding that the amended complaint was too deficient to survive a motion to dismiss and therefore would not be allowed. Judge Walsh’s opinion is available here…
Summary
In his first published opinion since returning from a well-deserved vacation, Judge Sontchi of the Delaware Bankruptcy Court ruled that facially plausible allegations are sufficient to protect a complaint, which sought to recharacterize another party’s bankruptcy claims, from being dismissed pursuant to Federal Rule of Civil Procedure (“FRCP”) 12(b)(6). Judge Sontchi’s opinion is available…
Summary
In a 12 page decision signed July 6, 2011, Judge Walrath of the Delaware Bankruptcy Court granted a motion to dismiss, holding that a complaint that sets forth only conclusory allegations parroting the statutory language of the Bankruptcy Code is insufficient. Judge Walrath’s opinion is available here (the “Opinion”).
Background
Crucible Materials Corporation…
Summary
In a 20 page decision signed July 1, 2011, Judge Shannon of the Delaware Bankruptcy Court partially granted a motion to dismiss, holding that the allegations of fraud in the complaint were insufficiently pled as to one of the defendants. Judge Shannon’s opinion is available here (the “Opinion”). It seems that claims of…
Summary
In an 11 page decision signed June 22, 2011, Judge Walsh of the Delaware Bankruptcy Court denied a motion to dismiss, holding that the Bankruptcy Court of the District of Delaware has personal jurisdiction over an insider of a debtor when the debtor files for bankruptcy in the District of Delaware. Judge Walsh’s opinion…
Summary
In a 30 page opinion published June 1, 2011, Judge Walrath ruled that funds held in a “rabbi” trust in order to pay for a “top hat” plan are property of the bankruptcy estate. Read on for the definition of “top hat” plans. Judge Walrath’s opinion is available here (the “Opinion”). The background…
