David Alexander Barnes's Legal Cases (2)

Chapter 11 bankruptcy

In re Lower Bucks, 571 Fed. Appx. 139 (3d Cir. 2014)

Jul 03, 2014

OUTCOME: The Third Circuit affirmed.

Appeal to the Third Circuit of orders of the Bankruptcy and District Courts denying the approval of a third-party release provision in the Chapter 11 plan of the debtor that purported to prohibit a cl ... ass of creditors that held corporate bonds in the debtor from bringing claims against their indenture trustee. Prior to the bankruptcy, the indenture trustee failed to maintain a perfected security interest in the bonds resulting in a loss of value to the bondholders in the bankruptcy. The disclosure statement, plan and other communications to the bondholders failed to provide clear and conspicuous notice to affected parties. The case was briefed and argued before the Third Circuit by D. Alexander Barnes.

Chapter 11 bankruptcy

Wright v. Owens Corning, 679 F.3d 101 (3d Cir. 2012)

May 18, 2012

OUTCOME: The Third Circuit reversed, holding that while the consumers were deemed to have had claims in the previous bankruptcy due to the retrospective application of the new test, such claims were not subject to discharge because of due process concerns.

Appeal to the Third Circuit concerning the application of the then-recent decision of In re Grossman’s which established a new test for determining when a “claim” arises under the Bankruptcy Code. Ober ... mayer represented a class of consumers that had brought a putative class action of consumers of defective shingles against the manufacturer which had previously been in bankruptcy. Retrospectively applying the new standard for claim determination, the District Court granted Owens Corning's motion for summary judgment, determining that the consumer’s claims were discharged under the previously-confirmed reorganization plan. The case was briefed and argued before the Third Circuit by D. Alexander Barnes.

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