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The Uncertain Power of Bankruptcy Courts to Approve Non-Consensual Third-Party Releases

ABI

City of Ground Prairie ( In re Purdue Pharma L.P. ), the Second Circuit held that a bankruptcy court has statutory jurisdiction to approve a plan that includes a nonconsensual third-party release of direct claims against non-debtors. [1] 6] The claims against the Purdue Debtors and the Sacklers were estimated to be more than $40 trillion.

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A Cogent Opposing View on SBRA Flexibility

PBWT

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

Debtor 65
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The Final Say: Conversion from Chapter 11 to Chapter 7 is Not a Given

PBWT

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. A recent 10 th Circuit decision shows why. The debtor and his two brothers-in-law served as co-trustees of both trusts. In February 2019, Judge David T. Thuma of the U.S.

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Amended Proofs of Claim are not Always Allowed

ABI

[2] The original proof of claim at issue was filed against Maxus and its affiliates (the “Debtors”). In the process of making Agent Orange, the Debtors discharged dioxin and other chemicals into the Passaic River, causing environmental damages. [3] 12] In May 2017, the Debtors’ liquidating plan was confirmed. [13] 10] Id.

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Affordable Care Act’s Shared Responsibility Payment is a Tax Entitled to Priority

ABI

2] In July 2019, Robert and Bonnie Szczyporski (the “Debtors”) filed voluntary petitions for relief under Chapter 13 of the Bankruptcy Code. [3] 3] The IRS filed a proof of claim against the Debtors for unpaid taxes and interest, including a $927.00 10] Id. shared responsibility payment. [4] 4th 179, 183 (3d Cir.

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Debt Collection Now and Post-Covid

Nexa Collect

Additionally, the government-assisted stimulus packages resulted in recovery rates jumping by almost 1.5 The number of those actually furnishing payment information to the consumer reporting agencies has decreased in the last 10 years. drop from 2019. Many agencies had to shut down during this period. In 2013, it was at 88%.

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Exclusive or Concurrent Jurisdiction to Reject Power Purchase Agreements in Bankruptcy?

ABI

In general, a debtor may reject an executory contract subject to court approval under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). 3] On January 24, 2019, PG&E announced their intent to file a voluntary petition for relief under Chapter 11 of the Bankruptcy Code. [4] By: Gabriela Zapata. 27 (S.D.N.Y.