News & Analysis as of

Creditors

The DTEK Restructuring - The Final Chapter

by Latham & Watkins LLP on

The court’s sanction of DTEK's latest scheme includes novel references to its outstanding bank debt and helpfully rules on the controversial 'domicile test'. The DTEK group recently implemented a long-term restructuring of...more

Court Of Chancery Limits Creditor Standing

by Morris James LLP on

This decision holds that a creditor lacks standing to bring breach of fiduciary duty claims arising out of the management of an LLC. Of course, creditors are better served by drafting the loan documents to protect their...more

Creditor Protection of Retirement Plan Assets

Assets in qualified retirement plans and individual accounts (IRAs) total more than $20 trillion and represent 34% of U.S. household assets.1 Clients and their advisers are rightfully concerned about insulating those assets...more

Entering the FDCPA Safe Harbor Just Got More Difficult in the Second Circuit

by Seyfarth Shaw LLP on

The Second Circuit’s recent opinion in Carlin v. Davidson Fink LLP, No. 15-3105-cv (2d Cir. Mar. 29, 2017), has important ramifications for the debt collection industry....more

11th Circuit Clarifies FDCPA/FCCPA Issues Re Periodic Mortgage Statements After Bankruptcy

by Burr & Forman on

In Helman v. Bank of America, 15-13672, 2017 WL 1350728 (11th Cir. April 12, 2017) the Eleventh Circuit Court of Appeal clarified important issues regarding the use of periodic mortgage statements after a bankruptcy...more

Effect of the MIFID II Research Regime on US Investment Managers

by Morgan Lewis on

The MiFID II regime will have significant ramifications for US investment managers and their use of client commissions to obtain research—especially as cross-border impacts have yet to be addressed by global regulators....more

Pre-Action Protocol for Debt Claims

by Locke Lord LLP on

The Ministry of Justice has published the final version of the Pre-Action Protocol for Debt Claims (the Protocol), which comes into force on 1 October 2017. The main principle of the Protocol is to provide debtors with...more

Filing of Claims in Bankruptcy Proceedings: The Central Solvency Register is Now Operating

by McGuireWoods LLP on

As from 1 April 2017, any statement of claim as part of bankruptcy proceedings should be submitted online to the Central Solvency Register (Registre Central de la Solvabilité / Centraal Register Solvabiliteit) via the...more

Anticipating and Managing Bankruptcy Risk

by Blank Rome LLP on

Blank Rome Partner Ira Herman authored “Anticipating and Managing Bankruptcy Risk,” a series of articles prepared for the Financial Restructuring & Bankruptcy module of Lexis Practice Advisor, a comprehensive practical...more

Can We Work It Out? : An Overview of the Pre-Action Protocol for Debt Claims

by Reed Smith on

After much consultation and debate, the Ministry of Justice has published the final version of the Pre-Action Protocol for Debt Claims (the Protocol), which is due to come into force on 1 October 2017. The Protocol is...more

Insolvency Rules 2016: Decision Making

by Reed Smith on

The Insolvency Rules 2016 (the 2016 Rules) have effect from 6 April 2016. A key change introduced by the 2016 Rules is a new approach to decision making, including a deemed consent procedure. The new approach is designed to...more

Caveat creditor: Risks of filing an involuntary bankruptcy

by Thompson Coburn LLP on

When faced with a recalcitrant debtor, clients sometimes move too quickly to put the debtor into an involuntary bankruptcy, especially when fraudulent transfers and other creditor avoidance attempts become apparent. But...more

Section 1129(a)(9)(A) Trumps DIP Orders

by Cole Schotz on

On January 5, 2017, Judge Sontchi of the Bankruptcy Court for the District of Delaware issued an opinion (the “Opinion”) in the pending Molycorp Chapter 11 case (Case No. 15-11357). In re Molycorp, Inc., 562 B.R. 67 (Bankr....more

New Supreme Court Decision Reminds Parties to Bankruptcies to Keep their Priorities Straight

In a recent decision, the U.S. Supreme Court turned aside the efforts of a debtor and a group of creditors to make an end-run around the Bankruptcy Code’s priority rules by distributing assets to junior creditors ahead of...more

EuroResource—Deals & Debt - March 2017

by Jones Day on

For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments...more

Can a Creditor’s Inaction Violate the Automatic Stay?

The filing of a bankruptcy case puts in place an automatic injunction, or stay, that halts most actions by creditors against a debtor. But can a creditor violate the automatic stay by not acting? The Tenth Circuit recently...more

A Hypothetical Question Deserves a Hypothetical Answer: The Ninth Circuit’s Approach to Preference Transfers in In re Tenderloin...

As a creditor, the news of a debtor who owes you a substantial sum of money filing bankruptcy is often the most alarming news you can learn—that is, until you seek advice of counsel and learn that payments the debtor made to...more

Alberta Court Provides Clarity on Oppression Claims in CCAA Context

The Alberta Court of Queen’s Bench (Court) has provided clarity on how oppression claims will be adjudicated in the context of the Companies’ Creditors Arrangement Act (CCAA). In the recent decision in Lightstream Resources...more

Liquidators Remuneration – Time is an Idylic Solution

by K&L Gates LLP on

The New South Wales Supreme Court of Appeal's decision in Sanderson as Liquidator of Sakr Nominees has given cause for optimism amongst insolvency practitioners. The decision confirms that the correct approach was taken by...more

Committees: Can the U.S. Trustee Disband What the U.S. Trustee Forms?

by Cole Schotz on

Sometimes the smallest bankruptcy cases give rise to the most interesting legal questions. One such case was that of ScripsAmerica, Inc., which gave rise to the question of whether the Office of the United States Trustee...more

Does “Act” Mean Also a Failure to Act?

by Dechert LLP on

No, says the U.S. Court of Appeals for the Tenth Circuit in In re Cowen, adopting the minority rule and parting ways with four other Courts of Appeals. The automatic stay provision of the Bankruptcy Code addressed in Cowen...more

The Increased Use of Combined Hearings and Combined Plan and Disclosure Statements in Delaware

by Cole Schotz on

Since February 2016, the Local Rules for the United States Bankruptcy Court for the District of Delaware provide for combined hearings on approval of disclosure statements and confirmation of plans and for the use of combined...more

Fifth Circuit Rejects Arguments to Expand Scope of Liability under the Equal Credit Opportunity Act

by Locke Lord LLP on

In a published opinion issued February 16, 2017, the Fifth Circuit rejected arguments that would have expanded the scope of liability under the Equal Credit Opportunity Act (ECOA), 15 U.S.C. § 1691 et seq., for lenders, or...more

What’s Yours is Mine and What’s Mine is For the Benefit of My Creditors: Bankruptcy Courts Remain Reluctant to Impose Constructive...

by Bryan Cave on

There is an inherent tension between the goals of bankruptcy law and the state law doctrine of constructive trust. A central tenet of bankruptcy policy is that similarly situated creditors should be treated equally: because...more

The Devil's Dictionary of Bankruptcy Terms: Venue

by Polsinelli on

The "Devil's Dictionary" is a quick-reference guide for commercial lenders and other restructuring professionals. In this series, we highlight many of the buzz words found in the Dictionary and used in today's bankruptcy...more

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