Tag Archives: Seventh Circuit

Seventh Circuit Holds Companies Liable for Insolvent Affiliate’s Pension Obligations

The Seventh Circuit Court of Appeals recently affirmed a district court decision holding that two limited liability companies were jointly and severally liable for the pension obligations of a third, insolvent affiliate that had ceased making contributions to a multiemployer pension fund. Central States, Southeast and Southwest Areas Pension Fund v. SCOFBP, No. 10-3633 (7th Cir. Dec. 27, 2011). Continue reading

Ortiz v. Aurora Health Care, Inc. (In re Ortiz), No. 10-3465 (7th Cir. Dec. 30, 2011)

The Seventh Circuit Court of Appeals dismissed the debtors’ appeal of the bankruptcy court’s dismissal of the debtors’ state law counterclaims because the bankruptcy court lacked authority to enter a final judgment on the debtors’ counterclaims, and without a final judgment, there was no basis for appellate jurisdiction. Continue reading

Seventh Circuit Reaffirms Secured Creditors’ Right to Credit Bid

In an opinion that has created the most significant bankruptcy-related circuit split in recent years, the U.S. Court of Appeals for the Seventh Circuit in In re River Road Hotel Partners, LLC1 vindicated secured lenders’ unqualified right to credit bid on asset sales under a chapter 11 plan. The Seventh Circuit in River Road rejected the rationale of the U.S. Court of Appeals for the Third Circuit in In re Philadelphia Newspapers, LLC. Continue reading