In This Issue:
In
In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a matter of first impression that triangular setoff does not satisfy the Bankruptcy Code s mutuality requirement.
Should Equitable Mootness Bar Appeals Only of Chapter 11 Plan Confirmation Orders?
As demonstrated by a ruling recently handed down by the U.S. District Court for the Northern District of Texas, courts disagree on whether equitable mootness should apply only to appeals of plan confirmation orders. In
Harden Healthcare LLC v. OLP Wyoming Springs LLC (In re Senior Care Centers, LLC), 2021 WL 632779 (N.D. Tex. Feb. 18, 2021), the district court affirmed a bankruptcy court order approving a settlement reached in connection with a sale transaction. In so ruling, the court held that the appeal was neither equitably nor statutorily moot, noting that, according to Fifth Circuit precedent, equitable mootness should not be expanded i
In Stream TV Networks, Inc. v. SeeCubic, Inc., 2020 WL 7230419 (Del. Ch. Dec. 8, 2020), the Delaware Court of Chancery held that the assets of Stream TV Networks, Inc. ("Stream"), an.
In This Issue:
In
In re Orexigen Therapeutics, Inc., 990 F.3d 748
(3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit
ruled as a matter of first impression that triangular
setoff does not satisfy the Bankruptcy Code s mutuality requirement.
Should Equitable Mootness Bar Appeals Only of Chapter 11
Plan Confirmation Orders?
As demonstrated by a ruling recently handed down by the U.S.
District Court for the Northern District of Texas, courts disagree
on whether equitable mootness should apply only to appeals of plan
confirmation orders. In
Harden Healthcare LLC v. OLP
Wyoming Springs LLC (In re Senior Care Centers, LLC), 2021 WL
Thursday, April 1, 2021
In
Stream TV Networks, Inc. v. SeeCubic, Inc., C.A. No. 2020-0310-JTL (Del. Ch. Dec. 8, 2020), the Court of Chancery of the State of Delaware (the “Court”) ruled that all of the assets of an insolvent 3D television technology company, Stream TV Networks Inc. (“Stream”), could be transferred to its secured creditors even though Stream did not seek stockholder approval of the sale under Section 271 of the General Corporation Law of the State of Delaware (the “DGCL”) or its certificate of incorporation. Accordingly, the Court enforced an agreement between Stream and its secured creditors pursuant to which Stream agreed to transfer all of its assets to an affiliate of its two secured creditors.
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