Virginia Bankruptcy Court Refuses to Stay Hopeman Brothers’ Chapter 11 Case Pending Appeal of Settlement Between Debtor and Insurers

RICHMOND, Va. –– The Virginia Bankruptcy Court overseeing Hopeman Brothers’ Chapter 11 proceedings has refused to stay the case pending the appeal of a settlement agreement, arguing that Huntington Ingalls Industries Inc. has not established that it is likely to succeed on appeal or that it will be harmed by the failure to stay the proceedings.

The U.S. Bankruptcy Court for the Eastern District of Virginia denied the motion to stay pending appeal in a Jan. 24 order.

Huntington Ingalls Industries Inc. filed the motion seeking a stay pending its appeal of an order approving a settlement between the debtor, …