Call 855-808-4530 or email [email protected] to receive your discount on a new subscription.
Chapter 11 cases involving mass tort and complex personal injury claims often require the resolution of novel legal issues that stretch the bounds of existing precedent. As these cases evolve, they can also impact claims against other debtors unrelated to the case at hand through court-approved injunctions, releases or settlements. This is precisely the situation that presented itself in the Chapter 11 case involving the Roman Catholic Diocese of Rockville Centre. See In re Roman Catholic Diocese of Rockville Center, No. 20-12345(MG), 2023 Lexis 1751, at *6 (Bankr. S.D.N.Y. July 13, 2023). On July 13, following a series of responses to claim objections made by the debtor in the Rockville Chapter 11, the U.S. Bankruptcy Court for the Southern District of New York sustained Rockville's claim objections relying upon third-party releases originally issued in the unrelated Boy Scouts of America (BSA) bankruptcy case.
The issues in Rockville stem from the joint voluntary Chapter 11 petitions filed by the BSA and Delaware BSA in 2020 to address the growing number of sexual abuse claims asserted against those organizations. The BSA reorganization plan, which was confirmed by the Bankruptcy Court and later by a U.S. district court, faces pending appeals in the U.S. Court of Appeals for the Third Circuit. The Third Circuit, however, has denied motions to stay the effectiveness of the BSA plan pending these appeals.
ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN ENTERTAINMENT LAW.
Already a have an account? Sign In Now Log In Now
For enterprise-wide or corporate acess, please contact Customer Service at [email protected] or 877-256-2473
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?