I’m Still Standing!

Delaware bankruptcy courts have uniformly denied derivative standing to official creditors' committees in cases where applicable non-bankruptcy law provides that creditors do not have standing to bring claims on behalf of certain entities. Recently, a Delaware bankruptcy court went against these decisions and granted a creditor's committee’s motion to prosecute estate breach of fiduciary claims despite a provision in Delaware law limiting derivative standing to the members or assignees of a Delaware limited liability company. Check out this expertly drafted article discussing this decision.

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