Examining the holding by the U.S. Court of Appeals for the Eleventh Circuit in Valley National Bank v. Warren (In re Westport Holdings Tampa Ltd. P’ship), the authors write that “the possibility of litigation neither imparts ‘person-aggrieved’ standing to a liquidating trust­ee-adversary proceeding defendant nor implicates Bankruptcy Code protection.” Thus, if the only direct and pecuniary harm they can state is a fear of future litigation against them, “an adversary-proceeding defendant cannot appeal bankruptcy court approval of a litigation funding agreement.” The future of person-aggrieved standing is unclear, especially in light of the doubt cast on the prudential standing doctrine following Lexmark Int’l Inc. v. Static Control Components Inc. “Although no circuit court has yet abrogated person-aggrieved standing in light of Lexmark, the issue remains one to watch,” they write. View the article.