Restructuring professionals are rethinking how they put together Chapter 11 plans in the wake of a Delaware judge's recent decision on when a bankruptcy court retains jurisdiction after confirmation, as they may no longer be able to rely on boilerplate retention language.
Settlement efforts in the Chapter 9 bankruptcy case of the Puerco Valley Fire District, involving a dispute with creditor Apache County over tax revenue distributions and debt repayment, appear to have stalled despite a court-led settlement conference, according to a report filed by the county Monday.
The long-running bankruptcy of an Irish real estate mogul is set to wrap up after 13 years and nearly $55 million in assets abandoned. A New Jersey judge said the sale of a trove of 80,000 pieces of audiovisual equipment for more than $2.5 million was null and void. And the liquidator of a company tied to a Ponzi scheme by Jason Nissen won one of 100 clawback actions.