Substantially all the assets of Custom Alloy Corporation and its related entities will be sold at an auction on October 13, 2022 at 12:00 pm CT. For more information, read the full public notice here on DailyDAC.

Chapter 11 debtors, committees, and bankruptcy trustees sometimes look to commercial litigation funders to finance litigation that they cannot afford to fund themself. It’s a growing field of specialty finance. Read about it in Third-Party Litigation Funding (TPLF) and Ethical Issues In Bankruptcy by Thomas J. Salerno for more insight.

As the Devil’s Dictionary of Bankruptcy Terms explains, “recoupment” is “a defense to a claim allowing the defendant to reduce the amount it must pay to the plaintiff by the amount that the plaintiff owes to the defendant in connection with the contract or transaction on which the plaintiff seeks recovery.” Read the full Devil’s Dictionary definition.