Supreme Court Decides to Maintain the Viability of the U.S. Bankruptcy Courts, But a Key Question Remains Unresolved


Four years ago, in Stern v. Marshall, the Supreme Court stunned many observers by re-visiting separation of powers issues regarding the jurisdiction of the United States bankruptcy courts that most legal scholars had viewed as long settled. Stern significantly reduced the authority of bankruptcy courts, and bankruptcy judges and practitioners both have since been grappling with the ramifications of that decision.


Law360 Selects Kelly Drye Special Counsel Jason R. Adams As One of its 2015 ‘Rising Stars’


Kelley Drye is pleased to announce that special counsel Jason R. Adams has been honored by Law360 as one of the “Rising Stars” in bankruptcy law for 2015, which recognizes top legal talent across the United States under the age of 40.


Judge Protects GM Against Most, But Not All, Ignition Switch Claims


Judge Robert Gerber ruled last week that General Motors LLC (“New GM”), the entity formed in 2009 to acquire the assets of General Motors Corporation (“Old GM”), is shielded from a substantial portion of the lawsuits based on ignition switch defects in cars manufactured prior to New GM’s acquisition of the assets of Old GM in 2009.


Energy Future Holdings Make-Whole Ruling Extends Rationale of Important SDNY Decisions to Delaware


Judge Christopher Sontchi issued a notable opinion last week in the bankruptcy case of Energy Future Holdings Corp., et al. (“EFH”), Case No. 14-10979 (D. Del.), ruling that the repayment in full of certain senior secured notes did not trigger an obligation by the debtors to pay a make-whole premium.


Is GM Shielded From Ignition Switch Defect Liability? Hearing Highlights Thorny Due Process and Bankruptcy Issues


Judge Robert Gerber will be stepping down at the end of this year, ending a storied judicial career highlighted by his oversight of the 2009 chapter 11 case of General Motors Corporation (“Old GM”).


Wellness International Oral Argument: Supreme Court Justices Grapple With Implications of Narrowing Bankruptcy Court Powers


There were nearly a million bankruptcy cases filed by individuals and businesses in 2014.  It is safe to say that only the tiniest fraction of such debtors have any familiarity with the Supreme Court’s decision in Stern v.


Energy Future Holdings – Bidding Procedures Fight Highlights Conflicts Among Affiliated Debtors


Energy Future Holdings (EFH), f/k/a TXU Corp., an energy company centered in Texas, was taken private in 2007 in the largest leveraged buyout transaction that has ever taken place.  The deal was largely predicated on an anticipated rise in natural gas prices; when prices instead plummeted the company, which had borrowed nearly $40 billion, was left with a massively unbalanced capital structure.  The chapter 11 cases of EFH and its subsidiaries


No Easy Road – GM Ignition Switch Litigation Raises Difficult Bankruptcy-Related Questions


General Motors LLC (“New GM”) came into being in the summer of 2009, when it acquired substantially all of the assets of General Motors Corporation (“Old GM”) in a sale undertaken pursuant to section 363 of the Bankruptcy Code.  The July 2009 Sale Order approved by U.S.