Bankruptcy – May 23, 2012

by Miller Canfield on 5/23/2012

Sleep better at night knowing that the loan you made to your borrower is supported by collateral from the borrower’s subsidiaries? You may want to keep one eye open. On May 15, 2012, the U.S. Court of Appeals for the Eleventh...more

by Snell & Wilmer L.L.P. on 5/21/2012

Originally published in the Orange County Business Journal April 30 - May 6, 2012. A fundamental principle of commercial lending holds that debt should be repaid prior to any return on equity. If a borrower cannot...more

by Cadwalader, Wickersham & Taft LLP on 5/18/2012

On May 15, 2012, the Eleventh Circuit Court of Appeals upheld a ruling by the U.S. Bankruptcy Court for the Southern District of Florida, which required certain lenders to return $403 million in prepetition payments they had...more

by Cadwalader, Wickersham & Taft LLP on 5/16/2012

On May 15, 2012, the U.S. Court of Appeals for the Eleventh Circuit reinstated the controversial 2009 opinion from the U.S. Bankruptcy Court for the Southern District of Florida in In re TOUSA Inc., which allowed the estate...more

by Cadwalader, Wickersham & Taft LLP on 5/4/2012

On April 9, 2012, Judge Stuart M. Bernstein of the U.S. Bankruptcy Court for the Southern District of New York held that an oversecured creditor in a single asset real estate case was entitled to receive prepetition and...more

by Cadwalader, Wickersham & Taft LLP on 5/2/2012

On March 30, 2012, Judge Sidney H. Stein of the District Court for the Southern District of New York held that a claimant’s affirmative defense of recoupment was not extinguished by the debtor’s section 363(f) sale. Hispanic...more

by Patterson Belknap Webb & Tyler LLP on 5/1/2012

U.S. bankruptcy law permits debtors-in-possession and trustees to sell assets free and clear of claims, liens and other interests. But a federal judge in New York ruled recently that a purchaser does not necessarily buy free...more

by Cadwalader, Wickersham & Taft LLP on 4/27/2012

On March 9, 2012, Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York held that a claim for damages resulting from a debtor’s breach of an executory contract must be arbitrated...more