Mondaq USA: Insolvency/Bankruptcy/Re-structuring
Jones Day
In short, this new procedure enables a creditor to obtain a "Preservation Order" ("Order") against a debtor to ensure enforcement of his or her claim in a cross-border context.
Stites & Harbison PLLC
A single petitioning creditor initiated the case of In re Zenga based on the putative debtors' responses to interrogatories which identified 10 creditors.
Lewis Roca Rothgerber Christie LLP
On Thursday, February 16, 2017, the Delaware bankruptcy judge overseeing the Energy Future Holdings Corp. Chapter 11 bankruptcy, stated that the most recent plan for emergence from Chapter 11 met the standards for confirmation.
Stites & Harbison PLLC
Last week in Macy v. GC Services, the United States District Court for the Western District of Kentucky certified a class action involving the Fair Debt Collection Practices Act ("FDCPA").
Hughes Hubbard & Reed LLP
A recent decision in the Bankruptcy Court for the District of Delaware explored the limits of mandatory subordination under section 510(b) of the Bankruptcy Code.
Fox Rothschild LLP
Earlier this month, the U.S. Bankruptcy Court for the District of Delaware released an update to the Local Rules for the United States Bankruptcy Court District of Delaware (Effective February 1, 2017).
Herrick, Feinstein LLP
The Court of Appeals for the Second Circuit issued an important ruling on January 17, 2017, in Marblegate Asset Management, LLC v, Education Management Finance Corp.,1...
Fox Rothschild LLP
In the recent decision of Spizz v. Goldfarb Seligman & Co. (In re Ampal-American Israel Corp.), 2017 WL 75750 (Bankr. S.D.N.Y. Jan. 9, 2017), the United States Bankruptcy Court for the Southern District of New York . . .
Shearman & Sterling LLP
In less than a week after its bankruptcy filing, a debtor was able to obtain confirmation of its prepackaged plan of reorganization in the Bankruptcy Court for the Southern District of New York.
Cadwalader, Wickersham & Taft LLP
The U.S. Court of Appeals for the Second Circuit overturned the District Court decision of Marblegate Asset Management, LLC v. Education Management Corp.
Cadwalader, Wickersham & Taft LLP
Marblegate Asset Management, LLC v. Education Management Corp. provided much needed clarity to creditors and issuers involved in out-of-court restructurings affecting noteholders.
Lowndes, Drosdick, Doster, Kantor & Reed, P.A.
The tides have turned in Ober v. Town of Lauderdale-By-The-Sea as the Fourth District Court of Appeal recently reversed its decision and revived the full impact of Florida's lis pendens statute.
Troutman Sanders LLP
On January 17, 2017, the United States Supreme Court heard oral argument in the case of Midland Funding, LLC v. Johnson, an appeal from the Eleventh Circuit.
Davis & Gilbert
On January 18, 2017, the Consumer Financial Protection Bureau (CFPB) filed suit against the nation's largest student loan servicer, Navient Corporation, alleging a litany of bad acts in the servicing of private and federal student loans that, if true, would mean shoddy and suspect practices may have already robbed students and their families of the opportunity for financial stability and success.
Jones Day
In order to better protect such licensees, Congress amended the Bankruptcy Code in 1988 to add section 365(n).
Kutak Rock LLP
Many "all assets" UCC financing statements contain language in the collateral description which expands upon, illustrates or explains that "all assets" means all of a debtor's assets.
Jones Day
On November 17, 2016, the Third Circuit Court of Appeals issued a highly anticipated ruling in the chapter 11 reorganization of Energy Future Holdings Corp., invalidating one of the aspects of EFH's confirmed chapter 11 plan.
Jones Day
A Delaware bankruptcy court held in a matter of apparent first impression that a creditor's allowed administrative expense claim may be set off against the creditor's potential liability for a preferential transfer.
Jones Day
When lenders take an aggressive approach to a financially troubled borrower that ultimately files for bankruptcy protection, stakeholders in the case, including chapter 11 debtors, trustees, committees, and even individual creditors or shareholders, frequently pursue causes of action against the lenders in an effort to augment or create recoveries.
Jones Day
If a chapter 11 plan proposes to "cure" a default under a contract, the cure amount must be determined in accordance with the underlying agreement and applicable nonbankruptcy law.
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Jones Day
With one exception, the Top 10 List of "public company" (defined as a company with publicly traded stock or debt) bankruptcies of 2016 consisted entirely of energy companies . . .
Jones Day
The watchword for 2016 in much of the world was "upheaval." Two unanticipated events dominated the political, business, and financial headlines of 2016, at least in Europe and the Americas.
Jones Day
In order to better protect such licensees, Congress amended the Bankruptcy Code in 1988 to add section 365(n).
BakerHostetler
The First Circuit Bankruptcy Appellate Panel recently issued a decision recognizing the rights of trademark licensees when the trademark's owner files for bankruptcy.
Stites & Harbison PLLC
January in Nashville has been a roller coaster of temperatures. One day hints at spring and the next punishes all who failed to wear earmuffs. Adaptability and resilience are key in the current climate.
Jones Day
EFH proposed to refinance first-and second-lien notes without paying "make-whole" premiums provided for in the governing indentures designed to compensate the noteholders for early repayment of their notes.
Milbank, Tweed, Hadley & McCloy LLP
On January 6, Avanti Communications (Avanti) announced that its financial restructuring plan was approved by 91.85% of its bondholders, clearing the 90% threshold required for the plan to be executed.
Greenberg Glusker Fields Claman & Machtinger
Inauguration is still about 2 months away, but it is not too early to begin thinking about what the Trump Administration will mean for commercial lawyers in general and bankruptcy lawyers in particular.
Fox Rothschild LLP
In the recent decision of Miller v. Zurich American Ins. Co. the Delaware Bankruptcy Court addressed the affirmative defense of recoupment asserted by an insurer in defense of an adversary proceeding...
Davis & Gilbert
On January 18, 2017, the Consumer Financial Protection Bureau (CFPB) filed suit against the nation's largest student loan servicer, Navient Corporation, alleging a litany of bad acts in the servicing of private and federal student loans that, if true, would mean shoddy and suspect practices may have already robbed students and their families of the opportunity for financial stability and success.
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