Bankruptcy

Supreme Court Decision on Bankruptcy May Impact Future of Catholic Abuse Claims

by

WASHINGTON — A recent Supreme Court ruling concerning bankruptcy law could have significant implications for pending lawsuits against the Catholic Church involving allegations of abuse. The legal decision, which revisits the parameters around the eligibility for filing for Chapter 11 bankruptcy, could potentially limit the church’s ability to shield itself from plaintiff claims through reorganization. This ruling directly intersects with the challenge of addressing the decades-long backlog of abuse cases that have financially and morally impacted the Catholic Church across the United States. Legal experts posit that the verdict might tighten the bankruptcy protections that … Read more

Supreme Court Backs Insurance Companies’ Right to Contest Mass-Tort Bankruptcy Strategies

by

Washington, D.C. — In a landmark decision, the Supreme Court has paved the way for insurance companies to challenge the bankruptcy plans of businesses facing mass tort litigation. This ruling could significantly reshape the financial strategies of companies that declare bankruptcy due to overwhelming litigation claims, such as those pertaining to product liabilities or environmental damages. The case at the forefront involves an insurance company opposing the bankruptcy plan of a firm beleaguered by numerous lawsuits. The insurer’s argument hinges on the premise that the bankruptcy plan unjustly obstructs its contractual rights and fails to … Read more

US Supreme Court Ruling on Purdue Case Tightens Bankruptcy Resolution for Mass Litigation

by

Washington — A recent U.S. Supreme Court decision has significantly impacted the ability of companies to settle mass litigation through bankruptcy proceedings. The ruling specifically addressed the case involving Purdue Pharma, the manufacturer of the prescription painkiller OxyContin. This decision sets a precedent that could make it more challenging for businesses facing numerous lawsuits to seek resolution by filing for bankruptcy protection. Previously, bankruptcy courts were a venue for companies to deal with extensive liabilities, including class-action lawsuits. However, the Supreme Court’s decision mandates that for a bankruptcy plan to be affirmed, it must directly … Read more

New York Judge Officially Ends Rudy Giuliani’s Bankruptcy Proceedings

by

New York, NY — A federal judge in New York has dismissed the bankruptcy filing from Rudy Giuliani, the former New York City mayor and personal attorney to former President Donald Trump. The case, which was under review since last September due to disputes over legal expenses, was deemed unnecessary after Giuliani managed to settle his debts outside of court. Giuliani had initially sought bankruptcy protection as a strategy to resolve ongoing financial battles with his former law firm partners, who claimed that he owed them significant sums. The claim initially prompted a legal battle … Read more