Conflict of Laws Finance & Banking Bankruptcy

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When the FDCPA and the Bankruptcy Code Conflict: Which Controls?

As most lenders and banking litigators understand, courts construe the language of the Fair Debt Collection Protection Act (FDCPA) very broadly. As we have discussed in previous posts, an initial communication to collect a...more

Infobytes Special Alert: CFPB Issues Mortgage Servicing Rule Amendments And Guidance Addressing Conflicts With Bankruptcy And Debt...

On October 15, 2013, the Consumer Financial Protection Bureau (“CFPB”) issued an interim final rule amending certain provisions of its mortgage servicing rules and making technical changes to other January 2013 mortgage rules...more

Rogers Towers: Caveat Creditor: Courts Split Regarding Abrogation of Absolute Priority Rule for Individual Chapter 11 Debtors

Although the 2005 BAPCPA amendments appeared to be a boon for creditors, at least with respect to Chapter 7 claims, individual Chapter 11 debtors immediately seized upon a perceived ambiguity in Congress’ language with...more

Ninth Circuit Holds That Debt Can Be Recharacterized as Equity

The US Court of Appeals for the Ninth Circuit recently resolved a split within the circuit when it held that a bankruptcy court has the power to recharacterize debt as equity. In In re Fitness Holdings International, Inc.,...more

An Identifiable Risk to Collateral Property That Is Used In The Marijuana Business

The legalization under state law of the marijuana business in Colorado through Amendment 20 (medical marijuana) and Amendment 64 (recreational marijuana) (Amendment 20 and Amendment 64 shall be referred to collectively as the...more

Ninth Circuit Widens Circuit Split Over Application of State or Federal Bankruptcy Law To Determine Whether Claims of...

In an important decision for private equity sponsors and other insiders who advance loans to their businesses, on April 30, 2013, the Ninth Circuit Court of Appeals in In re Fitness Holdings International confirmed that...more

Bill on Bankruptcy: Who's to Blame for the Hostess Liquidation? [Video]

Nov. 21 (Bloomberg) -- What did the Hostess Brands Inc. labor unions and management know about the company's imminent failure and when did they know it? That's the first topic for discussion on this week's Bloomberg...more

Federal-Mogul Court Confirms That Bankruptcy Law Trumps Anti-Assignment Provisions in Insurance Policies

On May 1, 2012, the United States Court of Appeals for the Third Circuit in In re Federal–Mogul Global, Inc. confirmed that anti-assignment provisions in a debtor’s insurance liability policies are preempted by the Bankruptcy...more

The effect of English schemes of arrangement in Germany

English law schemes of arrangement have become an increasingly debated topic in German law following some prominent cases in recent years. As far as Germany is concerned, the key question is whether schemes of arrangement...more

Supreme Court Upholds the Right to “Credit bid” in RadLAX Gateway Hotel, LLC, et al. v. Amalgamated Bank

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

Time for a sharp Grexit?

Business implications of Greece leaving the Euro - would you get paid,and in what currency? What should you do if selling to Greece or if you have assets there? An English lawyer's perspective....more

Supreme Court Addresses Circuit Split Over Cramdown Plans Precluding Credit Bidding

In a docket crowded with blockbuster cases this term, the Supreme Court's decision concerning the circuit split over cramdown plans precluding credit bidding by secured lenders may not stoke as much passion or fury as the...more

The Connecticut Bankruptcy Beat - March 2012

Welcome to the inaugural edition of Pullman & Comley’s Connecticut Bankruptcy Beat. This newsletter will be circulated on a bi-monthly basis and will cover current bankruptcy law developments of interest in Connecticut, the...more

Not all Bankruptcy “Core” Proceedings are Created Equal: A Limitation on State Law Lender Liability Claims in Bankruptcy Court...

The scenario has become all too familiar in recent years: a borrower defaults on a loan and, when the lender pursues the loan collateral through foreclosure or other proceedings, the borrower files for bankruptcy protection....more

Seventh Circuit Disagrees with Third on Selling Collateral Without Credit Bidding in a Cramdown: Rule of Philly Papers Rejected

The Bankruptcy Code provides that a Chapter 11 plan of reorganization may be confirmed over the opposition of a class of secured creditors whose secured claims are not being paid in full only if it provides one of the...more

Partial “Dirt-for-Debt” Plans in Chapter 11: the “Indubitable Equivalence” Debate

One consequence of the depressed real estate market has been numerous Chapter 11 bankruptcy cases wherein the debtor seeks confirmation of a “dirt-for-debt” plan. In such a plan, instead of paying the secured creditor the...more

July 2011: Bankruptcy Litigation Update

Supreme Court Limits Bankruptcy Court Authority to Render Final Orders on State Law Counterclaims: The Supreme Court recently issued a decision resolving “two issues: (1) whether the Bankruptcy Court had the statutory...more

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