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...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!