On May 12, 2026, Chief Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York issued a 27-page memorandum opinion in In re Iovate Health Sciences International Inc., Case No. 25-11958 (MG), recognizing and
Delaware Bankruptcy Blog
Review of Bankruptcy Proceedings and Legal Developments in Delaware and Throughout the Country
The Delaware Bankruptcy Blog, published by Carl D. Neff, focuses on legal developments and practical issues arising in bankruptcy cases within Delaware courts. It covers topics such as stay relief negotiations, insurance coverage considerations in bankruptcy, late-filed claims and excusable neglect standards, preference actions and defenses, debtor asset sales and bidding procedures, and significant bankruptcy litigation outcomes. The blog addresses procedural and substantive bankruptcy law matters, including analysis of court decisions, strategic considerations for creditors and debtors, and the impact of bankruptcy on related litigation and claims resolution processes.
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Cumulus Media: Judge Pérez Confirms Prepackaged Plan Over U.S. Trustee’s Opt-Out Release Objection
By Carl D. Neff
On April 15, 2026, Judge Alfredo R. Pérez of the United States Bankruptcy Court for the Southern District of Texas confirmed the modified joint prepackaged Chapter 11 plan of Cumulus Media Inc. and its debtor affiliates at the conclusion of…
Delaware Bankruptcy Court Provisionally Extends Chapter 15 Stay to U.S. Cannabis Subsidiaries of Canadian Debtor
By Carl D. Neff
On March 26, 2026, the U.S. Bankruptcy Court for the District of Delaware (Hon. Brendan L. Shannon) entered a provisional order in In re The Cannabist Company Holdings Inc., Case No. 26-10426 (BLS), extending stay protections to the non-debtor…
Fourth Circuit Affirms That Disclaimer-Bearing Mortgage Communications to a Chapter 13 Debtor Are Not Debt Collection
By Carl D. Neff
In Palazzo v. Bayview Loan Servicing, LLC, No. 24-2169 (4th Cir. Mar. 20, 2026, amended Mar. 31, 2026), the Fourth Circuit affirmed summary judgment for two mortgage servicers on FDCPA and automatic stay claims brought by a Chapter 13 debtor.…
Foreign Incorporation Does Not Shield Debtors from Involuntary Chapter 11: The Xinyuan Decision
By Carl D. Neff
The U.S. Bankruptcy Court for the Southern District of New York recently rejected arguments that a foreign debtor’s incorporation outside the United States and concurrent foreign restructuring proceedings should compel dismissal of an involuntary Chapter 11 petition. In re Xinyuan…
Coney Island Auto Parts: The Supreme Court Closes the Door on Untimely Void-Judgment Challenges
By Carl D. Neff
The Supreme Court’s January 2026 decision in Coney Island Auto Parts Unlimited, Inc. v. Burton, 607 U.S. 155 (2026), resolves a significant circuit split and reinforces a basic principle of judicial efficiency: judgments must eventually become final, even when…
When Chapter 11 Cannot Rewrite a Lease: The Aspen Chapel’s Cautionary Tale on Statutory Protections and Bad Faith Planning
By Carl D. Neff
In the January 15, 2026 decision rendered in In re The Aspen Chapel, the United States Bankruptcy Court for the District of Colorado provided a significant reminder that bankruptcy, while a powerful tool for financial restructuring, cannot be weaponized to…
Insider DIP Financing in Litigation-Only Estates: Insights from SPAC Recovery Co.
By Carl D. Neff
When a special purpose acquisition company burns through capital pursuing a failed deal, it often emerges from the wreckage with nothing but litigation claims. How, then, should a debtor with no operational revenue prosecute those claims? Judge John P. Mastando…
SDNY Rejects Opt-Out Releases in Chapter 11 Plan, Deepening Post-Purdue Uncertainty
By Carl D. Neff
On December 1, 2025, the U.S. District Court for the Southern District of New York issued a decision in In re GOL Linhas Aéreas Inteligentes S.A., 675 B.R. 125 (S.D.N.Y. 2025), reversing a bankruptcy court’s confirmation of third-party releases that…
How Far Can a Plan Injunction Reach? Delaware Weighs In on Gatekeeping
By Carl D. Neff
On August 21, 2025, Judge Craig T. Goldblatt of the United States Bankruptcy Court for the District of Delaware issued a significant ruling in In re AIO US, Inc. (the Avon Products bankruptcy) that rejected a “gatekeeping” provision in a…