Legal Opinion

Trans World Airlines, Inc. v. Texaco, Inc. (In Re Texaco, Inc.)

District Court, S.D. New York

Decided September 28, 1988No. Bankruptcy Nos. 87 B 20142 (HS)-87 B 20144 (HS), No. 88 Civ. 2800 (GLG)PublishedCited by 84 opinions

1Opinion of the Court

OPINION

GOETTEL, District Judge:

The “rich” history of this case — involving the largest civil damages award in history, the largest bankruptcy in history, perhaps the largest settlement in history, and undoubtedly the largest attorney’s fees in history — now moves to its next (and, hopefully, its last) chapter.

On March 23 of this year, the bankruptcy court in this district, the Honorable Howard Schwartzberg presiding, confirmed the Chapter 11 reorganization plan of Texaco Inc. (“Texaco”). In re Texaco Inc., 84 B.R. 893 (Bankr.S.D.N.Y.1988). Included as part of that plan was a $3 billion…

2Cases cited23 opinions

  1. Pennzoil Co. v. Texaco Inc.Supreme Court of the United States · 1987
  2. Mills v. GreenSupreme Court of the United States · 1895
  3. Protective Committee for Independent Stockholders of TMT Trailer Ferry, Inc. v. AndersonSupreme Court of the United States · 1968
  4. Hall v. BealsSupreme Court of the United States · 1969
  5. In Re Adams Apple, Inc., Debtor. Robert C. Burchinal, Donald G. Ott, Meton G. Raine, Karen O. Raine, John Ruud, Richard H. Mason, Phyllis Mason, Richard Floren, Rachel Floren, Kenneth R. Irwin, Sharon Irwin, Richard J. Willsey and Cheri Ann Willsey, Plaintiffs v. Central Washington Bank, Bank of California v. Central Washington BankCourt of Appeals for the Ninth Circuit · 1987

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3Cited by84 opinions

  1. R² Investments, LDC v. Charter Communications, Inc. (In Re Charter Communications, Inc.)Court of Appeals for the Second Circuit · 2012
  2. In the Matter of Joseph ANDREUCCETTI and Noemi Andreuccetti, Debtors-AppellantsCourt of Appeals for the Seventh Circuit · 1992
  3. Bankr. L. Rep. P 74,609 in Re Public Service Company of New Hampshire, Debtor. Martin Rochman v. Northeast Utilities Service GroupCourt of Appeals for the First Circuit · 1992
  4. Dicola v. American Steamship Owners Mutual Protection & Indemnity Ass'n (In Re Prudential Lines, Inc.)District Court, S.D. New York · 1994
  5. In Re: Metromedia Fiber Network, Inc., Debtors. Deutsche Bank Ag, London Branch and Bear, Stearns & Co., Inc. v. Metromedia Fiber Network, Inc., Debtors-AppelleesCourt of Appeals for the Second Circuit · 2005

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