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The Delaware Bankruptcy Insider is a premier blog designed to bring its readers a comprehensive analysis of the latest Delaware corporate bankruptcy news and rulings.  Brought to you by Ashby & Geddes, P.A.

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Third Circuit Affirms Debtors’ Right to Reject Expired Collective Bargaining Agreement Under Section 1113

In re Trump Entm’t Resorts, Unite Here Local 54, Appellant, No. 14-4807, 2016 WL 191926 (3d. Cir. Jan. 15, 2016), aff’g In re Trump Entm’t Resorts, Inc., 519 B.R. 76 (Bankr. D. Del. 2014)

On direct appeal, the Third Circuit Court of Appeals has affirmed a Delaware Bankruptcy Court ruling (see previous post here) that debtors’ powers under section 1113 of the Bankruptcy Code to reject a collective bargaining agreement remain in effect even if the agreement has expired.

Under the facts of the underlying case, a collective bargaining agreement (the “CBA”) between the Trump Entertainment Resorts debtors (the “Debtors”) and their… Read More

Petitioning Creditors Cannot Meet High Burden For “Extreme Remedy” of Appointment of Interim Trustee

In re Diamondhead Casino Corp., 540 B.R. 459 (Bankr. D. Del. Nov. 13, 2015)

In this Memorandum Opinion, Judge Silverstein of Delaware’s Bankruptcy Court held, on a limited record, that the petitioning creditors did not met their burden of proof to show that an interim trustee is necessary during the “gap period”—that is, the period between the filing of the involuntary case and the Court’s decision on whether to enter an order for relief.  In so holding, the Court relied primarily on the undisputed facts that debtor Diamondhead Casino Corporation (“Diamondhead”) is (and has been) a non-operating entity… Read More