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Bankruptcy Discharge Does Not Trigger Statute of Limitations on Claim Based on Security Agreement

In a recent decision, the Colorado Supreme Court reversed the Colorado Court of Appeals and held that a discharge in bankruptcy does not trigger the statute of limitations on a claim to foreclose based on a deed of trust....more

U.S. Supreme Court Holds Chapter 7 Debtor Liable for Fraud Based on Business Partner’s Acts

In a unanimous decision, the U.S. Supreme Court held that a Chapter 7 debtor cannot discharge a debt based on money obtained by fraud even when the Chapter 7 debtor did not perpetrate the fraud. Bartenwerfer v. Buckley, No....more

3rd Circuit Court Dismisses Johnson & Johnson’s Texas Two-Step

On January 30, the United States Court of Appeals for the Third Circuit dismissed a Chapter 11 bankruptcy filing for a subsidiary of Johnson & Johnson created exclusively to isolate in the new subsidiary mass tort claims...more

Bona Fide Shareholder And Creditor With Consent Rights Can Block A Bankruptcy Filing

In February, we sent a client alert concerning “golden shares” and informed you that the United States Fifth Circuit Court of Appeals had accepted an extraordinary appeal of the question whether a “golden share” provision in...more

“Golden Shares” May be Fool’s Gold for Lenders

February 16, 2018 – One of the biggest risks that any lender faces is a potential bankruptcy filing by its borrower. To counter that risk, lenders have developed creative strategies—with varying degrees of success—to gain...more

Banks Cannot Solve Their “Toxic Asset” Problems by Forcing Bad Loans and Real Estate on Unrelated Borrowers

In the wake of the post-2008 “Great Recession,” many financial institutions were left holding an odoriferous bag of non-performing loans and bank-owned real estate (“REO Property”) resulting from foreclosures on collateral....more

Mechanics' Lien Trust Fund Debts Not Dischargeable in Bankruptcy – What Were You Thinking?

In a recent unanimous decision, the United States Supreme Court made it more difficult to avoid a bankruptcy debtor discharging a debt tied to "defalcation while acting in a fiduciary capacity." In Bullock, the Court stated...more

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