Bankruptcy

Supreme Court Ruling Reshapes Landscape of Bankruptcy Protections, Limits Third-Party Releases

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WASHINGTON — In a landmark decision that could redefine legal and financial strategies in U.S. bankruptcy courts, the Supreme Court has ruled against the use of non-consensual third-party releases for resolving mass tort claims, except in cases involving asbestos. This pivotal ruling ends a long-standing practice widely accepted by bankruptcy courts and removes a key tool that companies like Purdue Pharma have used to shield stakeholders such as directors or shareholders from related lawsuits when the company itself files for bankruptcy. For more than four decades, bankruptcy courts have employed non-debtor releases to facilitate broad … Read more

Bankruptcy Case Dismissed: Giuliani’s Non-Compliance Halts Chapter 11 Protection Amid Financial Woes

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New York, NY — The Chapter 11 bankruptcy case of Rudy Giuliani, the former mayor of New York City and attorney to Donald Trump, was dismissed by a U.S. Bankruptcy Court on Friday due to Giuliani’s non-compliance with financial disclosure requirements. Giuliani, who once gained national prominence for his leadership following the Sept. 11 terrorist attacks, sought bankruptcy protection in December, claiming financial duress following a hefty $148 million defamation judgment. The judgment was related to his false accusations of election fraud against Ruby Freeman and Wandrea’ ArShaye Moss during the 2020 presidential election, which … Read more

Giuliani to Appeal Judgment After Bankruptcy Case Dismissal Amid Ongoing Legal Challenges and Financial Discrepancies

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New York — Following a recent legal defeat, Rudy Giuliani, once a key figure in President Donald Trump’s legal team, is emerging from bankruptcy and reportedly plans to appeal a significant court judgment. His attorney, Heath Berger, confirmed the intended appeal after a judge highlighted Giuliani’s neglect of financial transparency and reporting obligations. Giuliani’s bankruptcy dismissal surfaces amid accusations from his creditors of lavish spending even after filing for bankruptcy. This includes paying salaries to his girlfriend, Maria Ryan, and her daughter, while also failing to report additional business-related incomes. The former New York City … Read more

Federal Judge Dismisses Giuliani’s Bankruptcy Case, Greenlights Creditor Actions to Recover Multi-Million Dollar Debts

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NEW YORK – A federal judge in New in York dismissed Rudy Giuliani’s bankruptcy filing on Friday, a move that exposes the former New York City mayor to potential asset seizures by creditors who have won significant legal claims against him. The decision allows proceedings against Giuliani to advance, including attempts by two Georgia election workers, Ruby Freeman and Shaye Moss, who previously won a $148 million defamation lawsuit against Giuliani for falsely accusing them of electoral fraud during the 2020 presidential election. Judge Sean Lane of the U.S. Bankruptcy Court in the Southern District … Read more