H. Peter Haveles, Jr., a partner in the Trial and Dispute Resolution Practice Group of Pepper Hamilton, was quoted in the October 18, 2019 Reorg Americas article, "Taberna Hearing Sees Parties’ Argument Impact of Second Circuit Involuntary Petition Decision."
Judge Mary Kay Vyskocil held a hearing today on her order to show cause as to why a recent Second Circuit Court of Appeals decision - In re Murray, 900 F.3d 53 (2d Cir. 2018) - should or should not warrant dismissal of the Taberna involuntary petition. ... H. Peter Haveles Jr. of Pepper Hamilton presented arguments on behalf of the objecting noteholders. No decision was announced at today’s hearing.
The objecting noteholders then made their arguments, with Haveles asserting that the petitioning creditors’ goal is to liquidate and that the idea from inception was to collapse the investment so the securities could be sold quickly. Judge Vyskocil responded that if a legitimate bankruptcy purpose can be found, then that would be allowed. Haveles also argued that a range of noteholders oppose the involuntary petition, while on the other side is just the petitioning creditors.