Recoupment Affirmative Defense Not Extinguished by Debtor’s 363(f) Sale 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
New York Bankruptcy Court Rejects Comity Based on Public Policy Exception to the Grant of Comity to Non-U.S. Orders by Cadwalader, Wickersham & Taft LLP on 3/5/2012 In re Dr. Jurgen Toft, Case No. 11-1049 (ALG) (S.D.N.Y. Bank. Ct. 2011), a typically sound and erudite decision by the Bankruptcy Court in the Southern District of New York, is something of a close-to-must read for the...more
Coming Soon to a Store Near You...Tavern on the Green Ketchup? by Winthrop & Weinstine, P.A. on 10/6/2011 There’s been a lot of ink spilled on Duets Blog about the long saga of the Tavern on the Green, here, here and here. The last we heard, back in March of 2010, was that a judge had ordered the cancellation of the trademark...more
Florida Telco Manufacturer plans Asset Sale in Bankruptcy by Tampa Bay Bankruptcy Center, P.A. on 10/3/2011 Teltronics Inc, Florida’s telecommunications equipment manufacturer has filed for a Chapter 11 bankruptcy exit plan that includes selling off its assets. However, little has been revealed in the form of details about the...more
Securing a Loan to a Broadcaster, Part 2 - Bankruptcy Cases and Liens on Licenses by Davis Wright Tremaine LLP on 9/6/2011 When an FCC licensee goes bankrupt, the question of how to treat the interests of secured lenders is the one that, from time to time, comes up for debate. Two recent cases deal with this issue – one appearing to be an...more
New Decision Confirms that Secured Creditors May Have Lien on Economic Value of FCC License by Lowenstein Sandler PC on 8/25/2011 In a recent decision1 involving TerreStar Networks, Inc., and its affiliates (“TerreStar” or the “Debtors”), the United States Bankruptcy Court for the Southern District of New York held that the Debtors’ noteholders held a...more
FCC Sets Limits on Use of Divestiture Trusts When Station Purchase Would Put Buyer in Violation of Multiple Ownership Rules by Davis Wright Tremaine LLP on 8/2/2011 When one broadcast licensee company buys another, or when there is a restructuring of a company with broadcast ownership holdings that are grandfathered under current ownership rules, there often arises a need to divest...more
Handling Trademark Licensees in Bankruptcy: Part Two by Oliver Herzfeld on 8/1/2011 This two-part article provides an overview of the main issues faced and decisions to be made by a trademark licensor whose licensee has filed for bankruptcy in the U.S. It covers the following four scenarios: (i) if the...more
The Future of Credit Counseling Industry State and Federal Regulation: A New Uniform Debt-Management Services Act, Other State... by Venable LLP on 7/26/2011 Agenda -Introduction -State Law and Regulatory Developments –Common Themes in State Debt Adjusting Law Developments in 2011 -Revised Uniform-Debt Management Services Act -Other Developments -What...more
Handling Trademark Licensees in Bankruptcy by Oliver Herzfeld on 6/1/2011 This two-part article provides an overview of the main issues faced and decisions to be made by a trademark licensor whose licensee has filed for bankruptcy in the U.S. It covers the following four scenarios: (i) if the...more
Two Media Giants Emerge from Bankruptcy by Tampa Bay Bankruptcy Center, P.A. on 12/30/2010 American Media Inc, the publisher of National Enquirer is set to exit Chapter 11 bankruptcy protection by end of this month, if all goes as predicted. A judge in the Bankruptcy court for the Southern District of New York is...more
FTC Issues Final Rules for Debt Relief Services: Landmark Changes for Service Providers, Advertisers and Marketers of Debt Relief... by Venable LLP on 7/30/2010 On July 29, 2010 at the White House, with Vice President Biden at the podium, the Federal Trade Commission (the “FTC” or “Commission”) announced its long awaited amendments to the Telemarketing Sales Rule (“TSR”) targeting...more
In re Citadel Broadcasting Corporation Bar Date (Proof of Claim Filing Deadline) Order by Randall Reese on 3/9/2010 Judge Burton Lifland entered an order yesterday setting the deadline (or bar date) for the filing of proofs of claim against Citadel Broadcasting Corporation and its affiliates (a complete list of included affiliates is...more
In re Tricom, S.A. Order Confirming First Modified Second Amended Prepackaged Joint Plan of Reorganization by Randall Reese on 10/21/2009 Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York entered an order yesterday confirming the First Modified Second Amended Prepackaged Joint Chapter 11 Plan of Reorganization...more
In re Tricom, S.A. First Modified Second Amended Prepackaged Plan of Reorganization by Randall Reese on 10/14/2009 Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York entered an order yesterday confirming the First Modified Second Amended Prepackaged Joint Chapter 11 Plan of Reorganization...more