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Congress amended this section of the Bankruptcy Code to provide for the dismissal or conversion of a Chapter 7 case upon a finding of "abuse" by an individual debtor (or married couple) with "primarily consumer debt". The pre-BAPCPA language of § 707(b) provided for dismissal of a chapter 7 case upon a finding of "substantial abuse".
That lawsuit will not be able to move forward with its claims against Wellpath unless a judge grants special permission, said Charlotte bankruptcy lawyer Jim Henderson. The same goes for every ...
WASHINGTON — The Supreme Court on Thursday blew up the massive bankruptcy reorganization of opioid maker Purdue Pharma, finding that the settlement inappropriately included legal protections for ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
By settling the lawsuits in bankruptcy, J&J could cram down the settlement terms on cancer victims opposed to the deal, and prevent new lawsuits from being filed by people who develop cancer in ...
Under the abrogation doctrine, while Congress cannot use its Article I powers to subject states to lawsuits in either federal courts, Seminole Tribe v. Florida , or a fortiori its own courts, Alden , supra, it can abrogate a state's sovereign immunity pursuant to the powers granted to it by §5 of the Fourteenth Amendment , and thus subject ...
In its second bankruptcy filing, LTL put forward an $8.9 billion deal that would also have addressed the mesothelioma cancer lawsuits and states’ consumer protection actions, in addition to the ...
Purdue estimates that its bankruptcy settlement, approved by a U.S. bankruptcy judge in 2021, would provide $10 billion in value to its creditors, including state and local governments, individual ...