Publication Date: 2022-08-23
Practice Area: Bankruptcy
Industry: Entertainment and Leisure
Court: U.S. District Court of Delaware
Judge: District Judge Noreika
Attorneys: For plaintiff: R. Crain Martin, Matthew S. Sama, DLA Piper LLP (US), Wilmington, DE; Brett Ingerman, DLA Piper LLP (US), Baltimore, MD; Rachel Ehrlich Albanese, DLA Piper LLP (US), New York, NY for appellant.
for defendant: Robert S. Chapman, Sauer & Wagner LLP, Los Angeles, CA; Adam G. Landis, Kerri K. Mumford, Landis Rath & Cobb LLP, Wilmington, DE for appellee.
Case Number: D69931
Bankruptcy court correctly interpreted asset purchase agreement as entitling affiliate to payment on his participation interest where APA expressly identified the interest as a permitted lien that purchaser remained subject to, and thus the broader, general exclusion of obligations to debtor's affiliates did not control.