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Seventh Circuit Provides Rare Guidance On

In this article, the authors discuss a decision by the U.S. Court of Appeals for the Seventh Circuit interpreting the Bankruptcy Code's definitions of "statutory lien" and "judicial lien"...

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Seventh Circuit Provides Rare Guidance On "Statutory Liens" | Cadwalader, Wickersham & Taft LLP

On April 21, 2022, the U.S. Circuit Court of Appeals for the Seventh Circuit issued a decision interpreting the Bankruptcy Code’s definitions of “statutory lien” and “judicial lien,”...

Illinois , United-states , New-jersey , City-of-chicago , Chicago , Casey-john-servais , Ericg-waxman , Michelec-maman , Ingrid-bagby , Us-supreme-court , Us-circuit-court , Wickersham-taft

Business Restructuring Review | May–June 2021 | Jones Day

In This Issue:
In
In re Orexigen Therapeutics, Inc., 990 F.3d 748 (3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit ruled as a matter of first impression that "triangular setoff" does not satisfy the Bankruptcy Code's "mutuality" requirement.
Should Equitable Mootness Bar Appeals Only of Chapter 11 Plan Confirmation Orders?
As demonstrated by a ruling recently handed down by the U.S. District Court for the Northern District of Texas, courts disagree on whether equitable mootness should apply only to appeals of plan confirmation orders. In
Harden Healthcare LLC v. OLP Wyoming Springs LLC (In re Senior Care Centers, LLC), 2021 WL 632779 (N.D. Tex. Feb. 18, 2021), the district court affirmed a bankruptcy court order approving a settlement reached in connection with a sale transaction. In so ruling, the court held that the appeal was neither equitably nor statutorily moot, noting that, according to Fifth Circuit precedent, equitable mootness should not be expanded into such a "new frontier."

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