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 Bracewell & Giuliani LLP on 5/16/2012

TOUSA involved one of the largest fraudulent transfer litigations in bankruptcy history. The Bankruptcy Court agreed with the Unsecured Creditors’ Committee that both the so-called “New Lenders” and the “Transeastern Lenders”...more

by Reed Smith on 5/16/2012

In a decision that potentially has serious implications for mortgage financing transactions in Illinois, the Bankruptcy Court for the Central District of Illinois recently held that a mortgage is avoidable in bankruptcy if it...more

by Jerome Kowalski on 5/13/2012

Good Lord! Please make it stop. We can’t take witnessing any more carnage or scandal from the Dewy & LeBoeuf front! The worst part, in some respects, is that clients, laterals and law firm lenders are now looking past...more

by Osler, Hoskin & Harcourt LLP on 5/4/2012

In April 2011, the Ontario Court of Appeal rendered a unanimous judgment in Re Indalex Limited 1 which ordered that the amount the debtor was required to contribute towards its pension plan wind up deficiency be paid in...more

by Sheppard Mullin Richter & Hampton LLP on 5/3/2012

Originally Published in The Metropolitan Corporate Counsel, May 2012 - Volume 20, No. 5. Claim estimation is another weapon in the arsenal of a debtor seeking to push its agenda or plan through the bankruptcy court....more