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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
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For more information
The Threshold Necessary for a “Substantial Contribution” Finding under Bankruptcy Code Section 503(b)(3)(D) is “Exceedingly Narrow” in Delaware
In re RS Legacy Corp., No. 15-10197, 2016 WL 1084400 (Bankr. D. Del. Mar. 17, 2016) (BLS)
In this Opinion, Judge Shannon denied an individual’s request for allowance and payment of an administrative expense claim for his substantial contribution to the case under Bankruptcy Code section 503(b)(3)(D) in the amount of $203,105.51, which consists of his counsel’s fees and expenses. In so holding, the Court followed a well-developed body of case law showing that the threshold necessary for a contribution to be “substantial” is exceedingly narrow and such efforts cannot be self-interested.
The issue before the Court arose from… Read More
Bankruptcy Court Awards Substantial Contribution Only to Spansion’s Ad Hoc Committee of Convertible Noteholders
In re Spansion Inc., No. 09-10690 (KJC) (Bankr. D. Del. May 14, 2014)
In this long-awaited Memorandum Order, the Honorable Kevin J. Carey recognized that the Ad Hoc Committee of Convertible Noteholders (the “Ad Hoc Convert Committee”) assisted the Court in determining the enterprise value of Spansion Inc. and its affiliated debtors (the “Debtors”) and thus, allowed a substantial contribution award for the committee’s directly attributable professional fees and expenses. In the same Order, the Court held that the Ad Hoc Committee of Equity Security Holders of Spansion Inc. (the “Ad Hoc Equity Committee”) was not… Read More