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Del. Bankruptcy Rulings Keep Most Essar Claims Alive

Law360 (May 24, 2019, 9:33 PM EDT) -- Most claims in a 32-count, $1.8 billion adversary suit launched by the U.S. trustee for insolvent Essar Steel Minnesota Ltd. remain in play after the Delaware Bankruptcy Court dismissed nine counts but gave the opportunity to replead all but one.

In two related opinions released late Thursday, U.S. Bankruptcy Judge Brendan L. Shannon rejected dismissal motions for four other counts in the more-than two-year-old spinoff action. But he ruled that a breach of fiduciary duty claim against ultimate parent entity Essar Global Fund Ltd. should be dismissed entirely with no leave to refile, finding that Essar's insolvency did not impose a...

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