In a unanimous decision in Merit Mgmt. Grp., LP v. FTI Consulting, Inc., the U.S. Supreme Court addressed the scope of a Bankruptcy Code exception to the “avoiding powers” of a bankruptcy trustee or Chapter 11...more
4/26/2018
/ Avoidance ,
Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Creditors ,
Debtors ,
Financial Institutions ,
Fraudulent Transfers ,
Intermediaries ,
Leveraged Buyout ,
Merit Management Group v FTI Consulting ,
Safe Harbors ,
SCOTUS ,
Section 546(e) ,
Split of Authority ,
Trustees
In U.S. Bank N.A. v. Village at Lakeridge, LLC, the U.S. Supreme Court issued an important decision on standards of appellate review, holding that appellate courts should review a bankruptcy court’s determination of whether a...more
4/25/2018
/ Appeals ,
Appellate Review ,
Arms Length Transactions ,
Bankruptcy Code ,
Bankruptcy Court ,
Chapter 11 ,
Clear Error Standard ,
Cramdown ,
Creditors ,
De Novo Standard of Review ,
Judicial Deference ,
Non-Statutory Insider Status ,
SCOTUS ,
Standard of Review ,
US Bank National Association v Village at Lakeridge
Under long-established common law, loans must be paid only upon maturity, not before. This "perfect tender in time" rule is the default rule in a number of jurisdictions. Many indentures and credit agreements therefore either...more
Background -
The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more