Astropower liquidating trust

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Absent this provision, a debtor would be required to investigate and prosecute all avoidance and other causes of action prior to confirming a plan, which may take years.

Section 1123(b) (3) of the Bankruptcy Code facilitates the use of a liquidating trust for prompt administration of the estate by providing post-confirmation standing to an appointed representative of the estate to enforce claims and interests.

In conjunction with the other provisions of the Bankruptcy Code that require a disclosure statement and plan to provide “adequate information” for a claim or interest holder to make an informed judgment about the plan, Section 1123(b)(3) effectively provides notice to creditors of retention and prospective enforcement of claims that may enlarge the estate’s assets for distribution.

A plan must expressly retain claims to preserve a liquidating trust’s standing to pursue them after plan confirmation.

Accordingly, shares of Astro Power’s common stock are subject to delisting from the The Board of Directors then accepted the resignations of Allen Barnett, Ph. To facilitate the sale, among other reasons, Astro Power has filed a petition for reorganization under Chapter 11 of the Bankruptcy Code in United States Bankruptcy Court in Delaware. June 16, 2004 – Registrant filed a Motion with the US Bankruptcy Court in the District of Delaware announcing that it has reached an agreement to sell 100% of the equity of Aplicaciones Techicas de la Encergia, S. Barnett, as principal investigator and research professor, was chosen to lead a broad consortium of 15 universities, corporations and laboratories, spearheaded by the University of Delaware (UDEL), to develop Very High Efficiency Solar Cells (VHESC) with 50% efficiency within the next 50 months.

Prices increased slightly for smaller buyers and did not decrease as rapidly for smaller buyers.The Trustee seeks to investigate claims the Trusts may have against the Third Parties related to the Debtors' financial collapse. The Trustee testified that he believes that: (i) substantial harm was caused to the Debtors as a result of the 2014 Credit Agreement; (ii) an investigation regarding the circumstances surrounding the origination and papering of the 2014 Credit Agreement is appropriate; and (iii) the Third Parties possess information regarding these circumstances and regarding the possible attendant damages. In particular, the Trustee is seeking to investigate (i) the banks that served as arrangers and/or administrative agents under the 2014 Credit Agreement (i.e. Nevertheless, the Trustee further testified that "[t]he relief requested in the [2004] Motion is truly in the nature of an initial investigation. §§ 1334 and 157, bankruptcy courts have subject matter jurisdiction over four types of matters, pending referral from the district court: "(1) cases under title 11, (2) proceeding arising under title 11, (3) proceedings arising in a case under title 11, and (4) proceedings related to a case under title 11." Regardless of whether a proceeding is designated core or non-core, the bankruptcy court has subject matter jurisdiction over the matter. In many cases, for larger buyers, the tariffs were absorbed.Goal of action: Attempt to correct the import/export solar panel imbalance.

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