Bankruptcy Law News and Insights

Scott Kirby, CEO of United Airlines, commented on Spirit Airlines' plan of reorganization in the quote below. In short, Kirby appears to think that Spirit's plan is a road to nowhere, except Chapter 7 liquidation. While he isn't exactly an objective observer, he doesn't appear to be wrong either, as...

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An increasingly common feature of the chapter 11 landscape is the use of a post-bankruptcy trust to deliver value to creditors. Trusts offer an efficient vehicle to provide a recovery to creditors if the value to be distributed is not immediately accessible upon the effectiveness of a plan and will...

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On September 12, 2024, the U.S. Court of Appeals for the Eighth Circuit nixed a $563 million jury verdict against BMO Harris Bank involving claims that the bank aided and abetted a multibillion-dollar Ponzi scheme, ruling that the bank's equitable defense of in pari delicto barred the suit. The appeal...

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