Delaware Bankruptcy Court

Introduction

In a 17 page decision entered March 9, 2012, Judge Carey of the Delaware Bankruptcy Court granted a motion for relief from the Bankruptcy Code’s automatic stay to allow an undersecured creditor to exercise its remedies against a debtor’s collateral.  A copy of Judge Carey's opinion is available here (the "Opinion").  The Opinion was issued in a case nearly identical to that discussed in this post:

On March 14, 2012, Judge Sontchi of the Delaware Bankruptcy Court issued an opinion in the Carolina Fluid Handling Intermediate Holding Corp. bankruptcy case.  When a Fox Rothschild client is (or could be) affected by a ruling, rather than summarize the opinion, I will be providing a link to the opinion.  The opinion is available here.

At approximately 10:15 this morning, Judge Walrath of the Delaware Bankruptcy Court made an oral ruling confirming Washington Mutual's chapter 11 plan of reorganization.

Over the last three and one-half years, hundreds of attorneys and other professionals have worked thousands of hours in an effort to help WAMU obtain a measure of relief from its debts so that it could emerge from bankruptcy protection with the ability to continue to operate.  What has emerged from the process is a smaller, leaner company with a greatly reduced debt load.

Summary