Creditors Debtors Fiduciary Duty

News & Analysis as of

Illinois Bankruptcy Court Nullifies Lender's Right To Block Debtor's Bankruptcy Filing

Often, as part of a forbearance agreement, a lender will obtain a provision requiring its consent to any subsequently filed bankruptcy; the theory being that if the business debtor subsequently defaults under its restructured...more

Global Private Equity Newsletter - Winter 2016 Edition: Recent Developments in Acquisition Finance

Two recent court decisions may result in a broadening of the range of options available to an equity sponsor in respect of an insolvent portfolio company. The first decision may provide increased flexibility in structuring...more

Shifting Winds? Two N.C. Courts Uphold Fiduciary Duty Claims Against Banks

For the first time ever, North Carolina’s Business Court and Court of Appeals both upheld fiduciary duty claims against banks in late 2012. Debtors frequently employ such claims in an attempt to shift liability for failed...more

New Concerns for Bondholders, Lenders and Other Creditors Following SCC’s Indalex Decision

On February 1, 2013, the Supreme Court of Canada (SCC) released its much-awaited decision in the Indalex case. While the central issue in Indalex was the priority of wind-up deficiencies in defined benefit pension plans...more

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