Read Civil Remedies updates, alerts, news, and legal analysis from leading lawyers and law firms:
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A recent case from the U.S. District Court for the Southern District of New York addressed the recurring conflict between the goals of bankruptcy law, which seeks to give debtors a fresh start, and the goals of federal and...more
In L&W Supply Corp. v. Joe DeSilva, et al., (Docket No. A-2960-10T2, December 19, 2012) (“L&W Supply”), a decision recently approved for publication, the Appellate Division provides guidance to material suppliers seeking to...more
The secured lender industry experienced a collective sigh of relief on May 29 after the Supreme Court ruled in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank that credit bidding remains a viable option to protect...more
Much to the anticipation of the bankruptcy community, on May 29, 2012 the Supreme Court of the United States issued a decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank and put an end to the split among the Circuit...more
On May 29, 2012, the Supreme Court ruled 8-0 that a debtor could not confirm a plan over a secured creditor’s objection if the plan provided for the sale of the secured creditor’s collateral free and clear of liens, but did...more
In the recent case of RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 2012 WL 1912197 (May 29, 2012), the Supreme Court in a unanimous 8-0 opinion, delivered by Justice Scalia, held that the Bankruptcy Code statutory scheme...more
The U.S. Supreme Court does not often rule for secured lenders on bankruptcy issues. But on May 29, 2012, the Supreme Court did just that, resolving a split among lower courts on whether a debtor in Chapter 11 could confirm a...more
On May 29, 2012, the Supreme Court issued its opinion in the RadLAX Gateway Hotel, LLC v. Amalgamated Bank case. The Court resolved the question of whether a debtor may confirm a plan of reorganization that prohibits a...more
The United States Supreme Court, in the case of Radlax Gateway Hotel, LLC v. Amalgamated Bank (“Radlax”), ruled that secured creditors have the same right to credit bid in collateral sales under a plan of reorganization as...more
The Court's unanimous decision in RadLAX Gateway Hotel LLC v. Amalgamated Bank settles dispute over the credit-bid right, retaining this important creditor protection.
In a significant victory for secured creditors, on...more
On May 29, 2012, the U.S. Supreme Court, in a unanimous decision, resolved a high-profile circuit split regarding the right of secured creditors to credit bid in an asset sale under a chapter 11 plan. In RadLAX Gateway Hotel,...more
The United States Supreme Court emphatically upheld a secured creditor’s right to credit bid in bankruptcy cases. In RadLAX Gateway Hotel, et al. v. Amalgamated Bank, 566 U.S.___ (May 29, 2012), the Court found the case an...more
In a highly anticipated opinion decided on May 29, 2012, the United States Supreme Court held that Chapter 11 debtors could not sell collateral free and clear of secured lenders’ liens under a “cramdown” plan of...more
How Does RadLAX Impact Conventional Chapter 11 Plan Structures?
On May 29, 2012, the United States Supreme Court held in RadLAX Gateway Hotel LLC v. Amalgamated Bank ("RadLAX"), that a debtor-owner of a hotel encumbered...more
Recently, the Supreme Court of the United States held that a debtor cannot confirm a Chapter 11 “cramdown” plan that provides for the sale of collateral free and clear of a secured creditor’s lien when it denies the secured...more
I. Introduction -
In a big win for creditors, the U.S. Supreme Court unanimously ruled on May 29, 2012 that a secured creditor must be granted the right to credit bid up to the full amount of its claim where the debtor...more
Today, the Supreme Court of the United States issued its much awaited decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 566 U.S. ______ (2012). The noteworthy decision resolves any uncertainty surrounding a secured...more
On May 29, 2012, the United States Supreme Court resolved a split among the federal courts of appeals on an important bankruptcy issue, agreeing with arguments Morrison & Foerster advanced on behalf of Amalgamated Bank. In a...more
The Supreme Court held 8-0 that section 1129(b)(2) of the bankruptcy code requires that if a debtor proposes to sell property under a plan of reorganization it must permit secured lenders to submit credit bids in the sale...more
On February 24, 2012, Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware held that the debtor-lessee’s rejection of a lease cannot become effective so long as a non-debtor sublessee maintained...more
A lender holding $1 Million lien on bankrupt's real property sued for lien priority over approximately $200,000 in IRS liens attaching to the same property. The parties filed cross-motions for summary judgment, based on very...more
With Thanksgiving approaching and the holiday season in full swing, we here at Crunched Credit would like to present our annual “Golden Turkeys”.
The Golden Turkey for the Most Confounding Regulation: The Premium Capture...more
If a tenant company fails to pay its rent when due (subject to any grace periods in the lease) the landlord ordinarily has the right to forfeit the lease either by peaceable re-entry of the property or by legal proceedings....more
Earlier this year, Judge Sean H. Lane of the Bankruptcy Court for the Southern District of New York held that the post-petition rental income of a debtor-in-possession’s commercial real property in New York City was not...more
Originally published in Oklahoma Banker - July 2011.
Commercial lenders know the story. They made loans prior to 2008 when asset values were high. The economy soured. Asset values declined. A tepid recovery has, at best,...more
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