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Bankruptcy and Restructuring Legal News
In-house attorneys looking for a better way to organize, vet and easily retrieve legal news created the National Law Review on-line edition.
Around the clock, the National Law Review's editors screen and classify breaking news and analysis authored by recognized legal professionals and our own journalists.
There is no log-in to access the database and new articles are added hourly.
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Standing Room Only: US Supreme Court Ruling Clarifies Insurers’ Rights in Chapter 11 Proceedings
Because insurance law is a creature of state law, it is rare for the United States Supreme Court to wade into insurance matters. But as our colleagues explained last fall, the Supreme Court agreed to do just that when it granted certiorari in Truck Insurance v. Kaiser Gypsum, a Fourth Circuit bankruptcy case. On June 6, 2024, the Supreme Court issued an opinion unanimously reversing the Fourth Circuit. In doing so, the Court held that insurers with financial responsibility for bankruptcy claims are “parties in interest” under the United States Bankruptcy Code and, therefore, may appear and be heard, including to object to Chapter 11 reorganization plans.
More on Insurers Rights in Chapter 11 Proceedings Here >
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Environmental Liability in Bankruptcy: The Comprehensive Environmental Response, Compensation, and Liability Act Perspective
In general, environmental law seeks to protect public health and the environment by providing for liability, compensation, cleanup, and emergency response to the release or disposal of hazardous substances. And more specifically, the Comprehensive Environmental, Response, Compensation, and Liability Act (“CERCLA”) seeks to address the remediation of existing hazardous waste sites and seeks to deter environmental hazards from developing in the future. As a result, CERCLA provides that a person, or entity, who is responsible for the creation of an environmental hazard should be liable for the costs of remedying the problem.
More on Environmental Liability in Bankruptcy Here >
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