Mondaq USA: Insolvency/Bankruptcy, Re-structuring
Dentons (US)
This article first appeared in the December 2014 edition of Corporate Rescue & Insolvency journal. Written by Deepak Reddy in Dentons' New York office, Carlo Vairo in Dentons’ Toronto office and Alexander Hewitt in Dentons' London office.
Jones Day
Europe has struggled mightily during the last several years to triage a long series of critical blows to the economies of the 28 countries of the European Union.
Stites & Harbison PLLC
In 2013, the Georgia Court of Appeals held for the first time that a guarantor can contractually waive the protections of Georgia’s foreclosure confirmation statute.
Fox Rothschild LLP
In the transaction, Gaspari was represented by Fox Rothschild Partners Joshua Klein and Michael Viscount.
Duane Morris LLP
Mortgage lenders should be aware of the New Jersey statute of limitations on mortgage foreclosure complaints.
Herrick, Feinstein LLP
The Second Circuit's recent decision in the Madoff clawback actions effectively limited the exposure period that "innocent investor" defendants face for the return of transfers they received in connection with the Bernie Madoff Ponzi scheme to two years prior to the date of its collapse.
Hughes Hubbard & Reed LLP
Earlier today, ABI issued its much-anticipated report regarding potential revisions to Chapter 11 of the Bankruptcy Code.
Arent Fox LLP
On September 16, 2014, a New York trial court (the New York Supreme Court) issued an important ruling for indenture trustees and assignees of indenture notes.
Fox Rothschild LLP
DEB Stores Holding LLC and certain of its affiliated companies ("DEB" or the "Debtors") filed for bankruptcy under Chapter 11 of the Bankruptcy Code on December 4, 2014 in the United States District Court for the District of Delaware.
Fox Rothschild LLP
Can a financially distressed be "forced" into bankruptcy by its creditors? In other words, is it possible for creditors to subject a distressed entity into an involuntary bankruptcy proceeding?
WilmerHale
Claims-trading and loan-to-own strategies get a bad rap in bankruptcy.
Stites & Harbison PLLC
On December 8, the American Bankruptcy Institute’s Chapter 11 Reform Commission released its report, which was the product of a three-year comprehensive study of issues and trends in Chapter 11 as well as recommendations on how to best modernize the statute.
Mayer Brown
The United States Court of Appeals for the Second Circuit has affirmed a lower court ruling in In re Bernard L. Madoff Investment Securities LLC refusing to claw back transfers of fictitious profits made to customers in connection with a Ponzi scheme.
Fox Rothschild LLP
Raymond Lyons was quoted in the Reuters article, "Proposed U.S. Bankruptcy Rule Changes Spark Debate from Lenders."
Orrick
Approximately 16 months after filing the largest chapter 9 bankruptcy in history, Detroit received approval November 7 of its chapter 9 plan of adjustment.
Hughes Hubbard & Reed LLP
The Fifth Circuit recently held that a debtor-in-possession lender did not qualify as a "good faith" lender, overturning orders of the United States District Court and Bankruptcy Court for the Southern District of Texas, including a final order approving DIP financing.
Jones Day
Thomas A. Howley, Paul M. Green, and Mark G. Douglas The Bankruptcy Code provides certain protections to buyers of bankruptcy estate assets and to entities that extend credit or financing to a trustee or chapter 11 debtor-in-possession.
Stites & Harbison PLLC
Yesterday, the House of Representatives passed H.R. 5421, the "Financial Institution Bankruptcy Act of 2014″ or "FIBA."
Fox Rothschild LLP
Michael Sweet was quoted in the Reuters article, "Exclusive: Bankrupt San Bernardino has paid $6 million legal fees, millions more expected."
Herrick, Feinstein LLP
Many American cities are facing financial distress; some have yet to recover from the recession of 2008-2009, as foreclosures and depressed property values continue to erode property tax receipts and other revenues. Many of those cities also have substantial obligations for pensions and medical costs.
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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.
Jones Day
On November 7, 2014, Judge Steven Rhodes, the judge presiding over the City of Detroit's bankruptcy case, announced that he would confirm the City's proposed Plan of Adjustment (the "Plan"), including the creditor settlements contained within that Plan.
Fox Rothschild LLP
Unitek Global Services, Inc. ("Unitek" or the "Debtor") filed for bankruptcy under Chapter 11 of the Bankruptcy Code on November 3, 2014 in the United States District Court for the District of Delaware.
WilmerHale
Summary: On November 20, 2014, the Consumer Financial Protection Bureau ("CFPB" or the "Bureau") proposed changes to the rules governing mortgage servicing and foreclosures—Regulation X, which implements the Real Estate Settlement Procedures Act ("RESPA"), and Regulation Z, the implementing regulation for the Truth in Lending Act ("TILA").
Blank Rome LLP
Action Item: In light of this decision, lenders should ensure that foreclosures in New Jersey are filed within six years of the date of default.
Shearman & Sterling LLP
Facing the imminent bankruptcy of the federal Highway Trust Fund (the "HTF") and the specter of delays and reductions in payments from the HTF to the States, the US Congress last week passed the Highway and Transportation Funding Act of 2014, which extended federal surface transportation programs and funding through May 2015.
Reinhart Boerner Van Deuren S.C.
For title companies issuing title insurance policies and attorneys who defend these companies, a recent case from the Eighth Circuit should serve as a reminder that, if mistakes in legal descriptions are made, they should be corrected as soon as possible.
Jones Day
The mainstream media have been trying to predict, on almost a daily basis, the causes of, and the winners and losers resulting from, the current volatility in oil and gas prices.
Morrison & Foerster LLP
We held up this issue of Tax Talk in hopes the November 4 U.S. midterm elections would clear up the political fog surrounding tax policy in Washington, D.C.
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.
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