Be Careful To Describe Litigation Or It Will Be Lost

Law360 (September 12, 2008, 12:00 AM EDT) -- On Aug. 12, 2008, the Fifth Circuit Court of Appeals decided the case of "United Operating, LLC".[1] The case sets forth the standard for preserving post-confirmation litigation under a plan of reorganization.

In this case, the Fifth Circuit held that post-confirmation litigation must be adequately described in the disclosure statement or the standing to sue is waived. This case is likely to drastically change the way bankruptcy lawyers draft plans of reorganization and disclosure statements in the Fifth Circuit.


Dynasty Oil and Gas LLC ("Dynasty")...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.