What do creditors need to know about litigation in state court and bankruptcy court?
Bill on Bankruptcy: Detroit Shows Need for Amending Bankruptcy Law
Bill on Bankruptcy: US Airways Need a Merger More than AMR
Bill on Bankruptcy: Supreme Court Cases Will Have Wide Impact
Bill on Bankruptcy: Lawyers Must Disclose What Clients Pay
Bill on Bankruptcy: Lawyers Easily Make Simple Words Complicated
Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
Bill on Bankruptcy: Big Surprises For AMR, MF Global Creditors
Weekly Brief: BoA Sued; SCOTUS Shortlists; Fund Fights Argentina
For some filing for bankruptcy will not only bring a lot of much needed relief it is actually a smart financial step. Bankruptcy can clear away a lot of debt and truly provide a fresh start. However there are situations where...more
The U.S. Supreme Court held that a secured creditor in a chapter 7 bankruptcy case is protected from having its lien “stripped off” even if the collateral securing its claim is worth less than the claims asserted by a senior...more
On Monday, the Supreme Court reaffirmed the principle that junior “underwater” residential mortgage liens can “pass through” a bankruptcy case unaffected.
In Bank of America, N.A. v. Caulkett, the Supreme Court held...more
When a debtor defaults on a loan secured by personal property, the secured lender has several options for repayment. One option is to sell the collateral securing the debt pursuant to Article 9 of the Uniform Commercial Code...more
On June 1, 2015, the United States Supreme Court in Bank of America, N.A. v. Caulkett, 575 U.S. ____ (2015), unanimously held that a Chapter 7 debtor cannot strip off wholly “underwater” liens secured by the debtor’s...more
Yesterday, the United States Supreme Court ruled that debtors in Chapter 7 bankruptcy cases cannot “strip off,” or completely void, junior mortgages that—based on the value of the property and the amount of claims secured by...more
On April 10, 2015, RadioShack, and certain affiliated debtor entities, proposed a bankruptcy sale of certain assets, including Personally Identifiable Information (“PII”). Deposition testimony in the case revealed that, over...more
Questions sometimes arise from creditors regarding the effect of a debtor sending to a bank or other creditor a check for less than the creditor’s claim that purports to be in “full satisfaction” of the creditor’s claim...more
Two recent decisions from the Fifth Circuit and Eighth Circuit could expand the fraudulent transfer exposure of unknowing third parties that provide goods, services, or funding to companies operating Ponzi...more
When a debtor pays the market cost for goods and services provided to it by third-party vendors, these payments normally cannot be recovered as fraudulent transfers in the U.S. That is because the debtor receives reasonably...more
Federal Law No. 42-FZ dated 4 March 2015 (On Amendments to Part I of the Civil Code of the Russian Federation) (the "Law") was signed by the President of the Russian Federation on 8 March 2015 and is aimed at amending certain...more
On 9 March 2015 Federal Law No. 32-FZ “On Amending Part II of the Tax Code of the Russian Federation”, dated 8 March 2015, entered into force.
The Law is aimed at softening the negative tax effect on borrowings resulting...more
Following an economic downturn, lenders are inundated with lender liability suits typically based on purported promises to extend the maturity dates of loans, alter the terms of loan agreements, or to...more
In Snowden v. Check Into Cash of Washington Inc. (In re Snowden), 2014 DJDAR 12677, the United States Court of Appeals for the Ninth Circuit decided a bankruptcy case involving the award of attorney fees....more
We're back with summaries of the first signed decisions of the term, Warger v. Shauers (13-517) on whether Federal Rule of Evidence 606(b) precludes juror testimony during a proceeding in which a party seeks to secure a new...more
People want to pay their debts. If there is one thing I have learned over the last 11 years of practicing law is that people generally want to pay the debts that they have incurred. People usually hire me when they simply...more
On October 23, 2014, in Motorola Credit Corp. v. Standard Chartered Bank. No. 162, the New York Court of Appeals reaffirmed the continued vitality of New York’s “separate entity rule.” Under that rule, a judgment creditor...more
Section 503(b)(9) of the Bankruptcy Code provides creditors with an administrative expense priority claim for value of goods that were received by the debtor in the ordinary course within the 20 days prior to the bankruptcy...more
As we all know, on June 9 of this year, the Supreme Court issued its long awaited decision in Executive Benefits Ins. Agency vs. Arkison, 134 S. Ct. 2165, 189 L. Ed. 2d 83 (2014), which we had hoped would resolve the open...more
The recent Eleventh Circuit case of In re Brown, 746 F.3d 1236 (2014) held that 11 U.S.C. § 506(a)(2)'s replacement value standard applies even when a Chapter 7 or 13 debtor surrenders collateral under 11 U.S.C. §...more
1 Issues Arising When a Company is in Financial Difficulties -
1.1 How does a creditor take security over assets in Bermuda?
Bermuda is a self-governing British Overseas Territory. The systems of law...more
File And Forget? When a customer or other party with which you do business files bankruptcy, it’s important to file a proof of claim on time by the deadline (also known as a “bar date”) set in the case. Once you do, however,...more
The Telephone Consumer Protection Act’s safe harbor for calls made with the prior express consent of the called party is destroyed the moment the debtor says, “Stop calling me!” So too, a collector can be liable for...more
This issue considers the most important provisions of the resolution adopted at the Plenary Session of the Supreme Commercial Court of the Russian Federation (the “SCC”) No. 88, dated 6 December 2013, “On Accrual and Payment...more
Article 2 of Law no. 2014-1 of 2 January 2014 enabled the French government to simplify and secure the legislation relating to companies in difficulty.
Following consultation with practitioners, the French government...more
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