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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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Judges and Courts
- Delaware Court of Chancery
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Recent Posts
- Getting Noticed in the Digital Age: Delaware Bankruptcy Court Finds Email Notice Satisfies Due Process but Not Rule 2002
- 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
HELPFUL LINKS
For more information
Third Circuit Holds That Bankruptcy Code Section 502(e)(1)(B) Can Be Applied to Disallow Claims Against a Post-Confirmation Liquidation Trust
In re Caribbean Petroleum Corp., No. 13-2326, 2014 WL 1778050 (3d Cir. May 6, 2014)
On May 6, 2014, the Third Circuit affirmed the decision of the Bankruptcy Court in In re Caribbean Petroleum Corp. to grant a liquidating trustee’s motion to disallow a proof of claim pursuant to 11 U.S.C. § 502(e)(1)(B). In doing so, the Court disregarded a challenge to the applicability of section 502(e)(1)(B) in the post-confirmation context.
Interek USA, Inc. (“Interek”) sought contribution from the Caribbean Petroleum debtors in the event that Interek was found liable in ongoing litigation related to a large explosion at the debtors’… Read More