A bankruptcy trustee for the $250 million Takata Airbag Tort Compensation Trust Fund must take a $53 million claim coverage dispute with Mitsui Sumitomo Insurance Company Ltd. to a court in Japan, a Delaware bankruptcy judge has concluded.
A bankruptcy trustee for the $250 million Takata Airbag Tort Compensation Trust Fund must take a $53 million claim coverage dispute with Mitsui Sumitomo Insurance Company Ltd. to a court in Japan, a Delaware bankruptcy judge has concluded.
ADVERTISEMENT
ADVERTISEMENT
Jevic Ch. 7 Trustee Can t Pursue Ex-Committee s Claims
Law360 (May 6, 2021, 7:36 PM EDT) The Chapter 7 trustee overseeing the bankruptcy of trucking company Jevic Holding Corp. cannot step into the shoes of the plaintiff in a suit brought by the official committee of unsecured creditors, after a Delaware judge said Wednesday that a post-petition financing order limits adversary actions to those brought by the committee only.
In a Wednesday opinion from U.S. Bankruptcy Judge Brendan L. Shannon, the court said that Chapter 7 trustee George Miller could not run with the claims asserted by the official committee dissolved in 2018 when Jevic s bankruptcy was converted from a Chapter 11 proceeding because Miller.