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Current decisions, news and commentary regarding commercial bankruptcy cases in Delaware.

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Morris James Wins Rare $1.6M Fee For Ch. 11 Aid

Jeff Waxman’s and Eric Monzo’s representation of the ad-hoc Construction Lienholder Group in the M&G bankruptcy cases resulted in a rare allowance of $1.6 million legal fees and expenses after a bankruptcy judge found they made substantial contributions to M&G’s Chapter 11 cases.

United States Bankruptcy Judge Brendan L. Shannon issued a 14-page opinion in which the Court found that Morris James LLP and Province Inc., legal counsel and financial adviser to an ad hoc group of construction lienholders, respectively, “demonstrably and materially” facilitated the deeply complex process of reorganization for the international plastics-related chemical producer.

Read more.

Former U.S. Trustee Trial Attorney Brya Keilson Joins Morris James

KeilsonMorris James is pleased to announce Brya M. Keilson has joined the firm’s Bankruptcy and Creditors’ Rights Group in the Wilmington office. Brya counsels clients on commercial bankruptcy, restructuring and insolvency matters. She represents Chapter 11 debtors, insurers in all facets of bankruptcy-related issues, creditors’ committees, liquidating trustees, trade creditors and financial institutions, purchasers of assets, and both plaintiffs and defendants in numerous avoidance actions, including preference and fraudulent transfer actions.

Outside of bankruptcy, Brya represents receivers and assignees in assignments for the benefit of creditors. In her representation of corporate clients, she handles asset purchase deals and works with banks in front-end lending and workouts.  She also has experience in commercial litigation, real estate matters, loan transactions, and corporate acquisitions. More ›

Angel Medical Systems' Chapter 11 Receives Court Approval in Delaware

At a hearing in Wilmington in front of U.S. Bankruptcy Judge Kevin Gross, Angel Medical said issues heading into the confirmation hearing were resolved and a creditor that had rejected the plan changed its vote after it was revised to give a subordinated class of creditors a chance to seek preferred shares in the reorganized company.

Angel Medical Systems is represented by Jeffrey R. Waxman and Eric J. Monzo of Morris James LLP, and Joseph R. Sgroi and Glenn S. Walter of Honigman LLP.

Read the full article on Law360.

Temporary Stopgaps Extend Federal Court Operations Through January 31st

The Administrative Office of the U.S. Courts estimates that federal court operations will remain funded through Jan. 31, 2019. The extension has been achieved by deferring non-critical operating costs and the usage of court filing fees and other available funds.

Court System Notices

Litigation and filings will continue in Delaware during the federal government shutdown. If you have questions, please contact our Director of Client Relations Dawn Sheiker (302.888.6804; dsheiker@morrisjames.com).

US Bankruptcy Court Announcement of Retirement of Hon. Kevin J. Carey, effective August 31, 2019

Posted In News

bankruptcy imageThe United States Bankruptcy Court for the District of Delaware announces the retirement of Hon. Kevin J. Carey, effective August 31, 2019. This is a bittersweet moment for the Court. We sincerely thank Judge Carey for his exemplary service to the Court, the lawyers and the litigants for the last 19 years (5 years as a member of the United States Bankruptcy Court for the Eastern District of Pennsylvania and 14 years as a member of the Delaware Bankruptcy Court). Judge Carey is a fantastic judge, possesses excellent judicial temperament, writes scholarly opinions and is a warm and helpful colleague. We are saddened he is leaving us. We are also pleased that Judge Carey will be moving on to what we expect will be an exciting and rewarding time for him. We will be formally honoring Judge Carey’s service to the judiciary in the future. In the meantime, we thank him and wish him the very best.

To view this release on the court's website click here.

Angel Medical Systems Receives Approval for Planned Chapter 11

Chapter 11Cardiac-device developer Angel Medical Systems Inc., represented by Jeffrey R. Waxman and Eric J. Monzo of won court approval Friday to begin tapping a loan of up to $2.5 million to fund operations while under chapter 11 protection.

Jeffrey R. Waxman Quoted in Law360 re Weinstein's Permission to Use Emails Exchanged with Accusers

During a bankruptcy court hearing in Wilmington, Delaware, Judge Walrath gave Harvey Weinstein permission to use emails exchanged with accusers.

In response, class attorney Jeffrey R. Waxman of Morris James LLP said the objection in the bankruptcy discovery motion was intended to close a gap in the New York protective order that could prejudice anonymous accusers. "We want an order from a federal court which specifically precludes [Weinstein] from using any such names or emails that identify such persons," Waxman said of the anonymous accusers.

The plaintiffs in the proposed New York class action are represented by Elizabeth A. Fegan, Emily Brown, Steve W. Berman, Shelby Smith and Jason Zweig of Hagens Berman Sobol Shapiro LLP, Jeffrey R. Waxman of Morris James LLP and Edward S. Weisfelner and Howard S. Steel of Brown Rudnick LLP.

Click here to see the full story online.

U.S.News - Best Lawyers® Recognizes Morris James LLP Among Best Law Firms

Posted In News

News Image GenericThe 2019 U.S. News – Best Lawyers® annual guide of the “Best Law Firms" recognizes Morris James as a "Best Law Firm" in the national category of Litigation-Mergers & Acquisitions as well as 25 additional categories for their Delaware practices. More ›

Delaware Today Magazine Recognizes 39 Morris James Attorneys in their November Top Lawyer Edition

Posted In News

Morris James Takes the Lead in Delaware Today Top Lawyers Survey

Morris James LLP is pleased to announce that the lawyers listed below were recognized as Top Lawyers by their peers in a survey of Delaware attorneys conducted by Delaware Today magazine. Morris James had more top lawyers and top vote-getters than any other law firm in Delaware. 39 attorneys were named in 20 practice areas. More ›

Brett D. Fallon Presents at the North Carolina Bar Association 41st Annual Bankruptcy Institute

Posted In News

Brett D. Fallon will speak at the North Carolina Bar Association 41st Annual Bankruptcy Institute on Friday, November 2, 2018 in Pinehurst, North Carolina. He will present, in conjunction with Lisa Sumner, a partner at Nexsen Pruet in Raleigh, North Carolina, the program “Go Your Own Way” versus “I Fought the Law (and the Law Won)”: Intercreditor Agreements Battle the Bankruptcy Code". The program addresses how Bankruptcy Courts treat creditor agreements whose provisions may be contrary to principles of the Bankruptcy Code. Can creditors successfully have it their own way in bankruptcy using prepetition contract provisions or does the Bankruptcy Code rule the day?

The 41st Annual Bankruptcy Institute features speakers covering diverse topics of timely bankruptcy issues as well as updates for practitioners on the latest developments. A keynote address delivered by Professor Jacoby of UNC School of Law takes a look at The Weinstein Company filing and its issues relevant to all types of bankruptcy.

Brett D. Fallon is a partner in Morris James' Bankruptcy and Creditors' Rights practice and has been practicing before Delaware Courts for over 30 years. He has represented debtors and creditors of all types, particularly large dollar secured and unsecured creditors, creditor committees and both plaintiffs and defendants in post-confirmation actions brought by litigation and liquidation trustees. trustees.  

Morris James Named a Top Work Place for Mid-sized Employers in Delaware Eleventh Consecutive Year

Morris James was named a top work place for mid-sized employers in Delaware for the eleventh consecutive year.  This year's top workplace honor makes Morris James the only law firm in Delaware to be consistently top-ranked in the mid-sized employers category for the past eleven years. More ›

Proceed with Caution: Although a False Oral Statement about a Single Asset Constitutes a Statement Respecting the Debtor's Financial Condition for Section 523(a) Purposes, the Associated Debt Can Still be Discharged

Posted In Bankruptcy

The Supreme Court held that a statement about a single asset can be a "statement respecting the debtor's financial condition" and instructed that if the statement was not in writing, then the associated debt may be discharged even if the statement was false.  A copy of the opinion may be found here. More ›

Best Lawyers® Recognizes Thirty Morris James Attorneys in Thirty-two Practice Areas

Thirty Morris James attorneys in thirty-two practice areas were selected by their peers for inclusion in The Best Lawyers in America© 2019 edition. Additionally, three of those attorneys were named “Lawyer of the Year” for their respective practices, including David H. Williams for Education Law, Employment Law – Management, and Litigation – Labor and Employment, Richard Galperin for Healthcare Law, Medical Malpractice - Defendants, and Personal Injury Litigation – Defendants, and John M. Bloxom, IV for Real Estate. Congratulations to Kenneth L. Dorsney, Shannon S. Frazier, Kevin G. Healy, Eric J. Monzo, John H. Newcomer, Jr., K. Tyler O’Connell and Jill Spevack Di Sciullo for being recognized for the first time. More ›

Breaking Up is Hard to Do: No Administrative Expense Warranted for Purchaser's Expenses Incurred During Failed Effort to Obtain Regulatory Approval

On August 1, 2018, Chief Judge Christopher Sontchi issued another opinion in the Energy Future Holdings bankruptcy cases.  The opinion addresses the question whether failed purchaser NextEra Energy, Inc. ("NextEra") is entitled to a $60 million administrative expense claim related to its fees and expenses incurred in attempting to close the transaction with the Debtors for control of the Debtors’ economic interest in Oncor.  The Bankruptcy Court held that it is not.  A copy of the opinion may be found here.   More ›

Connolly and Noreika Confirmed to Delaware District Court

The United States Senate confirmed Colm F. Connolly and Maryellen Noreika as US District Judges for the District of Delaware. Connolly and Noreika will fill the two vacancies resulting from the retirements of Judges Sue L. Robinson and Gregory M. Sleet.

The confirmations, announced via the Senate's website (found here), restore the District Court to a full bench of judges.  More ›