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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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Recent Posts
- Third Circuit Reversal Paves the Way For NextEra to Potentially Recover Administrative Expenses Incurred in Connection With Failed Merger
- Delaware District Court Disagrees with Bankruptcy Court’s Ruling and Holds That Committee’s Challenge Rights Survived Entry of the Sale Order and Consummation of Sale
- “Straddling the Line”: Delaware Bankruptcy Court Rules That Not All Tax Liabilities Incurred During a Debtor’s Petition Year are Eligible for Administrative Expense Priority
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District Court Affirms Bankruptcy Court’s Approval of a Settlement and Structured Dismissal in the Face of an Absolute Priority Challenge
Czyzewski v. Jevic Holding Corp. (In re Jevic Holding Corp.), No. 13-104 (SLR), 2014 WL 268613 (D. Del. Jan. 24, 2014)
On January 24, 2014, Judge Sue L. Robinson affirmed a Bankruptcy Court order approving a settlement and structured dismissal of the chapter 11 cases of Jevic Holding Corp. and its affiliated debtors (the “Debtors“) in the face of a challenge by certain appellants asserting WARN claims that such settlement, among other things, violated the absolute priority rule of section 1129 of the Bankruptcy Code. The settlement, reached among the Debtors, the… Read More
Credit Bidding Limited For Cause Under Section 363(k)
In re Fisker Automotive Holdings, Inc., et al., No. 13-13087 (KG), 2014 WL 210593 (Bankr. D. Del. Jan. 17, 2014)
In a ruling from the bench that was followed by this Memorandum Opinion, the Bankruptcy Court limited a secured creditor’s entitlement to credit bid for cause pursuant to section 363(k) of the Bankruptcy Code. More specifically, the $75 million bid of Hybrid Tech Holdings, LLC (“Hybrid”), the debtors’ senior secured lender holding approximately $168.5 in claims, was reduced by the Bankruptcy Court to $25 million, the amount Hybrid purchased its claims… Read More