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Delaware Supreme Court holds receiver is required to defend lawsuits after a corporation is wound-up; finds no generally applicable statute of limitation for claims against a dissolved corporation
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • December 11 2013

In Anderson v Krafft-Murphy Co. Inc., 2013 Del. LEXIS 597 (Del. Nov. 26, 2013), the Delaware Supreme Court held that Sections 278 and 279 of the


Delaware Chancery Court holds that creditor plaintiffs in derivative suits may satisfy standing requirement by showing corporation’s insolvency at time of suit, regardless of later solvency
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • May 26 2015

In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch. May 4, 2015), the Delaware Court of Chancery held


In re TOUSA: District Court reverses bankruptcy court's order requiring lenders to disgorge $480 million as fraudulent transfer
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • April 5 2011

On February 11, 2011, the Hon Alan Gold of the United States District Court for the Southern District of Florida issued a 113 page opinion and order quashing the bankruptcy court's order requiring the lenders involved in TOUSA, Inc.'s Transeastern joint venture to disgorge, as fraudulent transfers under Section 548 of the Bankruptcy Code, settlement monies that they had received on July 31, 2007 in repayment of their existing debt and to pay prejudgment interest on such monies, for a total disgorgement in excess of $480 million


Supreme Court holds that bankruptcy courts can adjudicate Stern claims
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • June 1 2015

In a 6-3 ruling, the U.S. Supreme Court held that bankruptcy courts have the authority to adjudicate Stern claims so long as the litigant parties


Second Circuit holds that SIPA does not permit an inflation or interest adjustment to “net equity” claims for customer property
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • February 27 2015

In In re Bernard L. Madoff Investment Securities LLC, No. 14-97-bk(L), 2015 WL 727965 (2d Cir. Feb. 20, 2015), the United States Court of Appeals for


Creditors’ rights clarified by Interpretation II of the Supreme People’s Court on Several Issues Concerning the Application of the Enterprise Bankruptcy Law of the People’s Republic of China
  • Sheppard Mullin Richter & Hampton LLP
  • China
  • December 16 2013

Understanding your rights as a creditor while navigating under China's bankruptcy laws is becoming a must these days, especially for foreign


Bankrupt municipality may reduce retiree benefits
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • March 8 2013

The bankruptcy of the largest U.S. city to file a chapter 9 bankruptcy petition has yielded a decision with serious implications for municipal


Are tribal corps. eligible for bankruptcy protection?
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • March 13 2013

On March 4, 2013, 'SA' NYU WA Inc., a tribally chartered corporation wholly owned by the Hualapai Indian Tribe, filed a Chapter 11 bankruptcy


Dodd-Frank’s intersection with the Bankruptcy Code could have significant impact for unsecured creditors
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • March 21 2014

On February 11th, the three private plaintiff-appellants and eleven State plaintiff-appellants in State National Bank of Big Spring, et al. V. Jacob


Continuity of enterprise is enough for successor parties to be liable
  • Sheppard Mullin Richter & Hampton LLP
  • USA
  • April 29 2014

Successor liability is often a concern for the acquirer when purchasing substantially all of a seller's assets. While this risk is well known, the