Daniel Stolz Scores Major Victory in Bankruptcy Court on Behalf of Client
April 21, 2021 | By: Daniel M. Stolz, Esq.
Daniel M. Stolz, firm Partner and Chair of the firm's Bankruptcy, Reorganization & Creditors’ Rights Practice, serving as co-counsel with Jenner & Block, recently scored a major victory in the Bankruptcy Court on behalf of Bath Iron Works Corp., a division of General Dynamics Corporation. Congoleum filed for Bankruptcy in July 2020. Congoleum asserted that Bath Iron Works remained liable with Congoleum for environmental contamination at Congoleum’s Kearny, New Jersey plant and of a lower Passaic River site. Stolz and his co-counsel filed an Adversary Proceeding in the Congoleum Bankruptcy arguing that, as a result of Orders entered in Congoleum’s earlier Chapter 11 case, Bath Iron Works was relieved of all responsibility for any of the liabilities of the Congoleum Flooring business.
Mr. Stolz and his co-counsel moved for summary judgment, which was granted by Chief Bankruptcy Judge Michael Kaplan, who held that the plain language of the Confirmation Order and circumstances existing at the time of the earlier bankruptcy relieved Bath Iron Works of all Congoleum liabilities.
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