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The Bankruptcy Strategist

Features

Non-Creditor Was Entitled to Actual Notice of A Chapter 11 Plan’s Injunction Barring Suits Against Insurance Carriers Image

Non-Creditor Was Entitled to Actual Notice of A Chapter 11 Plan’s Injunction Barring Suits Against Insurance Carriers

Daniel A. Lowenthal

A person who was not a creditor of a bankruptcy estate was entitled to actual notice of an injunction that would bar the non-creditor from suing the debtors’ insurance carriers, a federal court has ruled.

Features

AI, Crypto, and Fraud: Bankruptcy Court Limits Jurisdiction Over Nondebtor Claims Image

AI, Crypto, and Fraud: Bankruptcy Court Limits Jurisdiction Over Nondebtor Claims

Andrew C. Kassner & Joseph N. Argentina Jr.

The intersection of artificial intelligence and cryptocurrency was involved in a recent decision where the U.S. Bankruptcy Court for the District of Delaware dismissed claims against an alleged participant in a scheme that induced investors to fund over $30 million in an artificial intelligence company designed to generate revenue from enhanced cryptocurrency mining.

Features

Shifting Jurisdiction Prior to Bankruptcy Filing Must Be In Best Interest of Creditors Image

Shifting Jurisdiction Prior to Bankruptcy Filing Must Be In Best Interest of Creditors

Evan Jason Zucker & Michael B. Schaedle & Jennifer K. Malow

Bankruptcy courts typically scrutinize transactions that attempt to shift the jurisdiction or activities of a debtor, prior to filing for bankruptcy, on the basis that such actions may thwart creditor expectations or accomplish other improper objectives.

Features

Johnson & Johnson the Latest to Employ the “Texas Two-Step” Image

Johnson & Johnson the Latest to Employ the “Texas Two-Step”

Emily Cousins

Plaintiff attorneys are grappling with the fear of the rise of big companies utilizing bankruptcy court to skirt large final or anticipated judgments. The most recent and high-profile example is Johnson & Johnson’s alleged attempt to utilize this move in its talc bankruptcy litigation.

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