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Bankruptcy "proofing" litigation settlements: can it be done? (Selected Topic).
After trying everything at your disposal to collect a large sum owed by one of your customers, you ultimately file a lawsuit in which you seek to collect the outstanding debt. Your former customer/now adversary raises a host of defenses and counterclaims concerning your performance, the quality of your product/services and other claims .After slugging it out for a number of months (and incurring ever-increasing legal fees), you are able to reach an acceptable settlement. But no sooner has the ink dried on the settlement agreement than your former customer flies for bankruptcy. Unfortunately, this may mean that the large settlement payment you just obtained may have to be ...
- Settlement Agreement with PBGC Did Not Violate Debtor's Collective Bargaining...
- News wire article from: Mondaq Business Briefing February 14, 2006 700+ words
...the effect of a bankruptcy filing upon a debtor employer's obligation to pay pension...Bankruptcy Code can provide relief to a debtor struggling to regain profitability despite...liabilities for retiree benefits by allowing the debtor to modify, or in some cases even terminate...
- SouthFirst Bancshares, Inc. Announces Settlement Agreement Between First...
- Press release article from: Business Wire July 2, 2002 700+ words
...obligations under the Settlement Agreement. The payment of...Parties under the Settlement Agreement will be fulfilled...Amount become a debtor in any bankruptcy...Parties under the Settlement Agreement are fulfilled...
- Fleming/Megafoods Settlement Agreement Approved By Court
- Press release article from: PR Newswire August 12, 1996 700+ words
...highlights of the settlement agreement include: * Fleming...and pays the debtors $2.5 million...will support the debtors' efforts to...terms of the settlement agreement. * Fleming will...any other non-debtor third party litigation...
- McDermott Announces Proposed Revision to the Babcock & Wilcox Company Chapter...
- Press release article from: Business Wire August 29, 2005 700+ words
...reflecting the Proposed Settlement Agreement must reach a final...under the Proposed Settlement Agreement and related documents...Trust. All non-debtor McDermott companies...If the Proposed Settlement Agreement becomes effective...
- R3 Capital Closes on Settlement Agreement with Lehman Brothers Holdings Estate.
- Press release article from: PR Newswire October 20, 2008 700+ words
...previously-negotiated settlement agreement with Lehman Brothers...As part of the settlement agreement, Lehman Brothers...R3 Capital. The settlement agreement with Lehman Brothers...advisor to the LBHI debtors, and Weil, Gotshal...
- Court Approves Marvel-Toy Biz Settlement Agreement Clearing the Way for June 30...
- Press release article from: PR Newswire June 26, 1998 700+ words
...scheduled. Under the settlement agreement, the Trustee has...being released. The settlement agreement may be terminated...the terms of our settlement agreement are fair and reasonable...the ability of the Debtor Companies to successfully...
- New World Reports Settlement Agreement with Manhattan Bagel Secured Creditor...
- Press release article from: PR Newswire November 12, 1998 700+ words
...that it had reached a settlement agreement with Manhattan Bagel...confirmation of the Debtor's Joint Plan of...Manhattan Bagel. The settlement agreement has been approved...claims against the Debtor and the dismissal...
- MedPartners and State of California Gain Court Approval to Begin Implementation...
- Press release article from: PR Newswire May 11, 1999 700+ words
...announced proposed settlement agreement regarding MedPartners...anticipated definitive settlement agreement. MedPartners said...and operate as a debtor in possession under...of the definitive settlement agreement; -- MedPartners...