August 10, 2022
Insurers that issued policies to the bankrupt Diocese of Camden told a New Jersey judge on Wednesday that a Chapter 11 plan confirmation trial slated for Aug. 29 needs to be delayed because additional discovery is required.
August 05, 2022
The Boy Scouts of America got a court's nod for the linchpin of its $2.7 billion Chapter 11 plan, the defamation damages trial of conspiracy theorist Alex Jones and his bankrupt media enterprise resulted in nearly $50 million in damages, and customers of cryptocurrency platform Voyager Digital can withdraw their cash from custodial accounts. This is the week in bankruptcy.
August 03, 2022
The U.S. Trustee's Office asked a New Jersey bankruptcy judge on Tuesday to disqualify Trenk Isabel Siddiqi & Shahdanian PC from representing the Diocese of Camden in its Chapter 11 case, saying the firm has hired an attorney who represented a group of the diocese's creditors.
June 01, 2022
The bankrupt Diocese of Camden received approval for its Chapter 11 plan disclosures with warnings from the court, Sidley Austin was found not to be conflicted when it represented the Boy Scouts of America, and Arizona law doomed a $16 million lien claim asserted by the Dutch government in the MD Helicopters bankruptcy. This is the week in bankruptcy.
May 31, 2022
The Diocese of Camden received bankruptcy court approval Tuesday in New Jersey for a new Chapter 11 plan disclosure statement that outlines an $87.5 million settlement with the official committee of tort claimants.
May 24, 2022
Three Roman Catholic dioceses are pushing for approvals of settlements for hundreds of sexual abuse claims in bankruptcy courts, a Delaware state court judge denied a litigation stay in a nonbankruptcy wind-down case, potentially signaling a crackdown, and Purdue Pharma executives got their bonuses approved. This is the week in bankruptcy.
May 20, 2022
The bankrupt Diocese of Camden told a New Jersey judge Friday that he should hear arguments over a proposed but abandoned $30 million settlement with insurers at the same time he is considering confirmation of the debtor's Chapter 11 plan centered on a new deal with sex abuse claimants.
May 19, 2022
The Diocese of Camden told a New Jersey bankruptcy court Thursday that its proposed Chapter 11 plan represents the best possible outcome for sex abuse claimants and that insurer opposition to the plan is unfounded because it doesn't impact their contractual rights.
May 10, 2022
The past week has seen a trio of large Chapter 11 cases hit the dockets as debt holders become less permissive, the Diocese of Camden meet a wall of opposition from its insurers who aren't on board with a new $90 million plan to deal with sex abuse claims, and entities related to conspiracy theorist Alex Jones face challenges from families of Sandy Hook victims to their bankruptcy filings. This is the week in bankruptcy.
May 05, 2022
Insurers for a Roman Catholic diocese slammed its bid to shorten the approval time on its newest Chapter 11 bankruptcy disclosure statement, arguing the diocese has presented something "vastly different" from what the court's order called for and cannot rush through its review.