Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Jones Day
For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments.
Fox Rothschild LLP
Bond insurers intend to continue their fight over the city of Detroit’s plan to dump $7 billion in debt and favor pensioners over financial creditors.
Hughes Hubbard & Reed LLP
The New York Court of Appeals may have just halted failed law firms’ efforts to recover fees from their former partners and those partners’ new firms.
Orrick
Judge Jed S. Rakoff declined to extend the reaches of section 550(a) to permit the recovery of funds alleged to be fraudulently obtained in connection with Bernard Madoff’s Ponzi scheme.
Fox Rothschild LLP
When will your company’s Section 503(b)(9) claim be paid? Section 503(b)(9) claims are paid when the debtor makes a final distribution to creditors.
Pepper Hamilton LLP
After substantially all of the debtors’ assets were sold in a bankruptcy sale, a secured lender and a state tax authority made competing claims for turnover of sale proceeds.
WilmerHale
Summary: In its recent AmFin decision, the Sixth Circuit joined a growing line of cases considering whether tax refunds paid to a bank holding company pursuant to a tax sharing agreement between the holding company and its subsidiary bank, but attributable to losses incurred by the bank, are the property of the holding company’s bankruptcy estate or of the FDIC as receiver for the bank.
Stites & Harbison PLLC
If you’re in the business of what the original Statute of Elizabeth called "the avoiding of feigned, covinous and fraudulent feoffments," and if you’re in one of the 25 states currently utlizing the Uniform Fraudulent Transfer Act, ...
Caplin & Drysdale
On June 17, 2014, a three-judge panel of the Third Circuit Court of Appeals vacated a District Court’s dismissal order and resuscitated a bankruptcy appeal.
Fox Rothschild LLP
Michael A. Sweet was quoted in the CNN Money article, "Detroit’s Turnaround is Moving Fast."
Fox Rothschild LLP
Michael J. Viscount was featured in Law360’s article, "Odds Are NJ Casino Closures Will Spark Deal Wave."
Stites & Harbison PLLC
If a time-traveler had visited me in the mid-1990s and told me that I would attend law school, I wouldn’t have believed it.
Pepper Hamilton LLP
A chapter 7 trustee successfully sought to avoid a mortgage using his "strong arm" powers on the basis that the mortgage was not properly acknowledged.
Stites & Harbison PLLC
In this three-part series, Stites & Harbison ("S&H") is examining the opportunities banks have to recover the large amount of loans that were charged off in the Great Recession.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
The Commonwealth of Puerto Rico and the Puerto Rico Electric Power Authority ( PREPA) yesterday filed separate motions to dismiss the federal court complaint filed last month by some PREPA bondholders seeking to invalidate the recently-enacted Puerto Rico Public Corporation Debt Enforcement and Recovery Act.
Pepper Hamilton LLP
A lease provided that if the landlord failed to pay a construction allowance when due, the tenant debtor’s obligation to pay rent and charges abated until payment was received.
Fox Rothschild LLP
Michael Sweet was quoted in The Detroit News' article, "Detroit plans $7 billion debt cut in bankruptcy." Full text can be found in the July 10, 2014, issue, but a synopsis is below.
Fox Rothschild LLP
Detroit is a shrinking city. The city filed for bankruptcy last July and has accumulated $18 billion in debt as it continues to see its population decline.
Fox Rothschild LLP
According to early returns, a significant number of Detroit retirees have shown support for the city's debt-cutting plan to reduce its $7 billion debt. - See more at: http://www.foxrothschild.com/newspubs/newspubsArticle.aspx?id=15032394861#sthash.CGp9gMzO.dpuf
Fox Rothschild LLP
July 11th marked the deadline for thousands of creditors to vote on emergency manager Kevyn Orr's restructuring plan for Detroit.
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Jones Day
As in 2012, banking and financial services companies were conspicuously absent from the Top 10 List of public-company bankruptcy filings for 2013.
Mayer Brown
Today, the Supreme Court granted certiorari in seven cases of interest to the business community ..
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
On Friday, June 7, 2013, Governor Rick Scott signed The Florida Fair Foreclosure Act, which made many substantive changes to how foreclosures must be conducted in the state.
Pepper Hamilton LLP
The mortgagee filed a third-party complaint against its title agent, local counsel and underwriter asserting claims for breach of contracts and negligence.
Fox Rothschild LLP
Susan Jordan, a benefits and wealth planning partner with the firm, wrote this article about a recent Supreme Court decision.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
On Saturday, June 28, Puerto Rico’s Governor Padilla signed into effect Puerto Rico’s new bankruptcy law for certain revenue bond issuers.
Duane Morris LLP
The Maine Supreme Judicial Court issued a ruling significantly affecting the ability of MERS to assign mortgage rights as a "nominee" of a mortgage lender.
Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.
A brief and simplified history of bankruptcy jurisdiction may be helpful in understanding where we are today.
Herrick, Feinstein LLP
In the wake of the collapse of Bernard L. Madoff's Ponzi scheme, Trustee Irving Picard brought hundreds of cases under section 548(a) of the Bankruptcy Code.
Pepper Hamilton LLP
A lease provided that if the landlord failed to pay a construction allowance when due, the tenant debtor’s obligation to pay rent and charges abated until payment was received.
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