Roger Arnold Says The Worst is Behind Us in Greece
Can My Creditors Put me In Jail?
20 Things a Debt Collector Can't Do
5 Reasons Consumers Should File an FDCPA Lawsuit
Why You Should Enter into a Payment Plan with a Junk Debt Buyer
Beginners Guide to Debt Collection Lawsuits by Portfolio Recovery Associates
Quick Guide to Stopping Collection Calls.
3 Proven Strategies to Get the Lowest Debt Settlement Possible
3 Proven Strategies for Dealing with a Midland Funding Lawsuit
If I won my case, why do I need to worry about an appeal?
BigLaw Recruiter: We Didn't Kill Dewey & LeBoeuf
What are the steps of an appeal?
Polsinelli Podcasts: Out-of-Court Alternatives to Bankruptcy
Polsinelli Podcasts - Supreme Court Closes Gap on Bankruptcy Issue
A Conversation with John Houghton on Asia Restructurings
Bennett Jones Spring 2014 Economic Outlook
Select Bankruptcy Issues for General Counsel – Part One
Not Dead Yet? How BigLaw's Best Firms Are Finding Growth
Update on Section 363 of the Bankruptcy Code and Delaware Bankruptcy Court’s Decision in the Fisker Automotive Holdings Inc. Bankruptcy Case
Polsinelli Podcast - Claims Trading: Opportunity or Hazard?
This is an interesting decision because it explains what direct claims are available to investors in an LLC.
That is not always an easy question to answer. After all, some claims (including those involved in this case)...more
The Bankruptcy Code offers several advantages for the creditors of financially distressed individuals and corporations, including federal court supervision of a possibly untrustworthy debtor and mitigation of the risk of...more
Hall of fame horse racing jockeys Laffit Pincay, Jr. and Chris McCarron first sued their former business managers, Vincent and Robert Andrews, in California District Court in 1989 for fraud, breach of fiduciary duty and other...more
In Quadrant Structured Products Co., Ltd. v. Vertin, C.A. No. 6990-VCL, 2015 WL 2062115 (Del. Ch. May 4, 2015), the Delaware Court of Chancery held that a creditor plaintiff needs only establish that a corporation was...more
In This Issue:
- How Safe are the Bankruptcy Code Safe Harbors?
- Stockton’s Chapter 9 Plan Approval
- Delaware Chancery Court Clarifies Fiduciary Duties of Insolvent Corporation Directors in Derivative...more
Two recent decisions from the Fifth Circuit and Eighth Circuit could expand the fraudulent transfer exposure of unknowing third parties that provide goods, services, or funding to companies operating Ponzi...more
A just-issued Court of Chancery decision clarifies, and possibly expands, creditors' rights. In 2007, the Delaware Supreme Court ruled that a corporation's creditors may sue its board of directors for violating its fiduciary...more
The Supreme Court recently handed down its judgment in Jetivia SA and another v Bilta (UK) Ltd (in liquidation) and others  UKSC 23. The Court was unanimous in dismissing the appellants’ case that the claimants’ claims...more
The Court of Chancery issues a liberal ruling on creditor derivative standing and more obsequies for the “zone of insolvency.” ...more
The Third Circuit Court of Appeals recently upheld a trial court’s jury verdict finding the individual board members and officers of a non-profit healthcare facility personally liable to the facility’s creditors. The board...more
In a striking decision earlier this year, the 3rd Circuit Court of Appeals affirmed a jury’s findings of liability for breach of fiduciary duties and ‘deepening insolvency,’ and the award of $2.25 million in compensatory...more
Last month, the United States Court of Appeals for the Third Circuit issued an important, 28-page opinion that confirmed a jury verdict, holding former officers and directors of a not-for-profit health care provider in...more
The Claimant, Philip Sebry, formerly Managing Director of Taylor & Sons Limited (‘Company’), brought a claim for damages for negligence and breach of statutory duty against Companies House and the Registrar of Companies...more
The conduct of corporate directors and officers is subject to particular scrutiny in the context of business combinations (whether friendly or hostile), executive compensation and other affiliated party transactions,...more
The Court of Chancery of Delaware recently issued a noteworthy decision clarifying fiduciary duties and confirming business judgment rule protection for board-level business strategy decisions by directors of insolvent...more
As reported in our February 2014 edition, the bankruptcy court estimating Garlock Sealing Technologies, LLC’s asbestos liability uncovered significant evidence “that the last 10 years of its participation in the tort system...more
In yesterday’s post, we discussed when a lender’s failure to comply with guidelines under the federal Home Affordable Mortgage Program (HAMP) might violate N.C. Gen. Stat. § 75-1.1 as well. We analyzed a very recent federal...more
This issue of the Credit Crunch Digest focuses on recent forex settlement agreements; rate-swapping claims in a Libor consolidated action; Bank of Tokyo’s $315 million settlement with the New York Department of Financial...more
In Stern V. Marshall, ____ U.S ___, 131 S. Ct. 2594 (2011), the Supreme Court held that bankruptcy courts cannot issue final judgments on state law counterclaims even though they are “core proceeding”. Stern V. Marshall is...more
Whenever a company tumbles into bankruptcy following the discovery of its management’s financial misdeeds, firms that provided the company with accounting, legal, banking and financial advisory services should prepare to...more
A chapter 7 trustee sued a manager of three limited liability company (LLC) debtors for breach of fiduciary duty and to hold the manager personally liable for distributions made to members, including himself....more
On July 9, 2014, in Citizens State Bank Norwood Young America v. Gordon Brown, et al., the Minnesota Supreme Court held that Minnesota's Uniform Fraudulent Transfer Act ("MUFTA") may be applied to transfers of assets made as...more
Companies that have valuable assets but also face significant liabilities will sometimes engage in restructurings to isolate, or “ring-fence,” the good assets from the liabilities. Often the companies are able to accomplish...more
In her first published decision, rendered in Mexico Construction and Paving v. Thompson (In re Thompson), Case No. 11-32924, Adv. Pro. No. 12-03065 (Bankr. D. Conn May 22, 2014), Judge Julie A. Manning held on the basis of...more
In 2008, a few months before the $65 billion Madoff Ponzi scheme fell apart, the $3.65 billion Petters Ponzi scheme made headlines. Tom Petters told investors that they were financing the purchase and sale of consumer...more
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