Plan Confirmation

Chapter 11 Plan Adequately Reserved Bankruptcy Rights Transferred to a Liquidating Trust

The United States Bankruptcy Court of the Northern District of Texas recently held that a confirmed chapter 11 plan of a liquidated company, R.L. Adkins Corp. (the “Corporation”), was not required to specifically preserve bankruptcy-created rights of the Corporation against… Read More ›

Third Circuit Rules Future Claimant Lacks Standing to Object to Plan

Following the saga of asbestos-related bankruptcy cases, the Third Circuit Court of Appeals recently held that Garlock Sealing Technologies, LLC lacked standing to object to the confirmation of the chapter 11 plan of W.R. Grace & Co., because Garlock could not demonstrate it… Read More ›

Fifth Circuit Opines On Chapter 11 Voting Process

The Fifth Circuit Court of Appeals recently determined the issue of whether a chapter 11 plan that artificially impairs a class of creditors for purposes of complying with section 1129(a)(10) of the Bankruptcy Code is confirmable.  See Western Real Estate Equities, L.L.C…. Read More ›

Third Circuit Clarifies How to Value Collateral

In In re Heritage Highgate, Inc., No. 11-1889 (3d Cir. March 20, 2012), the Third Circuit Court of Appeals recently determined how bankruptcy courts should value collateral retained by a chapter 11 debtor in order to establish the amount of the… Read More ›

Third Circuit Clarifies Treatment of Future Claims

In Patricia Wright, et al. v. Owens Corning, Case No. 11-2026 (3d Cir. May 18, 2012), the Third Circuit Court of Appeals undertook the challenge of administering unknown future claims in bankruptcy.  Future claims are generally known as claims that only… Read More ›

AMR Preserves Right to Propose Plan of Reorganization

On March 22, 2012, American Airlines, which filed bankruptcy on November 29, 2011, obtained bankruptcy court approval to extend its exclusive right to file a plan of reorganization until September 28, 2012. Under section 1121 of the Bankruptcy Code, a… Read More ›