Quote:
Originally Posted by Caymus
There are probably multiple non bankruptcy "normal" lawsuits {ie malpractice, slips/falls etc) against Village Health. Who "owns' them? Can the bankruptcy judge dismiss those and any pending suits?
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For people with claims against the TVH legal entity for actions BEFORE the initial bankruptcy filing, those people have had an opportunity to file a claim with the bankruptcy court. If those people failed to file a claim, the bankruptcy court will effectively dismiss those actual and potential claims when the bankruptcy plan is confirmed.
A plaintiff’s lawyer for a pending lawsuit against the bankrupt TVH entity needs to file a claim with the bankruptcy court in a timely manner. If not, his/her bad.
Once the bankruptcy judge confirms the bankruptcy plan and ends the bankruptcy case, (practically speaking) whatever is not in the plan for actions BEFORE the bankruptcy filling are out of luck.
In short, fail to file a claim with the bankruptcy court in a timely manner for an action BEFORE the bankruptcy filing, you’re bad. You missed your opportunity.
And there are exceptions which is why lawyers get paid.
For existing lawsuits, there may be no assets left in the pre-bankruptcy entity to collect $$ from a successful judgment. Insured losses are a completely different story.