Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock
Consultant: More Big Law Firms Will "Implode"
Law School Applications Crater
Will The Debt Ceiling Standoff End Up In Court?
Bill on Bankruptcy: MF Global Creditors Undeterred by Low Value
Symptoms of Student Loan Crisis Reveal Bubble About to Burst
Dean: There's No Oversupply of Lawyers
Bill on Bankruptcy: Will 2013 Be Kind To The Bankruptcy Bar?
If a taxpayer who has borrowed money from bank defaults on repayment and does not repay the bank, the taxpayer will have cancellation of indebtedness income to the extent that the amount due the lender exceeds the value of...more
SAFE’s New Rule Simplifies and Clarifies Foreign Debt Registration On April 28, 2013, the State Administrative of Foreign Exchange (“SAFE”) issued “The Administrative Measures for the Registration of Foreign Debt”...more
The below flowchart may be helpful to you in answering the question whether you qualify for the exemption for “venture capital funds” under Section 203(l) of the Investment Adviser’s Act of 1940 ( the “Advisers Act”),...more
On May 30, the CFPB filed a complaint in federal district court against a Florida debt-relief company the CFPB alleges violated the FTC’s Telemarketing Sales Rule and the Dodd-Frank Act by promising certain debt relief...more
At yesterday’s joint FTC-CFPB roundtable on the debt collection industry, industry representatives advocated for a uniform, national standard for the documentation to be provided to debtors in the pre-litigation phase of the...more
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
This past Thursday, the CFPB announced that it filed a complaint against a Florida debt-relief company that misled consumers across the country. Following an investigation into American Debt Settlement Solutions, Inc. (ADSS)...more
Louis Steinmetz signed a personal guaranty of a $350,000 loan made to an LLC. The LLC defaulted on the loan....more
Recent months have seen several noteworthy developments regarding tender offers, “poison puts”, reverse triangular mergers, and litigation that will impact the negotiation and execution of future M&A transactions. These...more
In the last 10 years, the Equator Principles or EPs have emerged as the industry standard for financial institutions to assess social and environmental risk in the project finance market. The EPs — which are based on the...more
Alabama remains one of the simplest jurisdictions in the country for commercial foreclosure. Nevertheless, foreclosure in Alabama can quickly become expensive if a lender does not carefully follow the letter of the law and...more
For the last 27 years, bankruptcy courts in the Ninth Circuit consistently held that debt could not be recharacterized as equity unless the movant proved inequitable conduct by the debt holder. On April 30, 2013, the Ninth...more
Bankruptcy trustees and lenders to a potentially insolvent debtor — particularly any lender who has or intends to acquire an equity stake in the borrower — should take note of a recent decision by the U.S. Ninth Circuit Court...more
On April 30, 2013, the United States Court of Appeals for the Ninth Circuit held that the bankruptcy court has authority to recharacterize as equity, rather than debt, advances of funds made purportedly as a loan to the...more
It is common for employees to separate from employment while still owing money to their employer. Such indebtedness can be generally attributed to a variety of causes, which can be broken down into three categories...more
On May 8, the CFPB issued a report regarding student loan affordability and related policy issues. The report summarizes and analyzes public responses to the CFPB’s request for information and discusses policy options for...more
In an effort to summarize the highlights of the U.S. Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this...more
Citing a conflict of interest between class representatives and a class, the Ninth Circuit Court of Appeals recently invalidated a $45 million class action settlement that had previously been approved by the district court....more
The better prepared you are, the more effectively your attorney can advise you on your debt relief options. Before going to your first appointment, record essential information about your debts, assets, income and expenses....more
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
Kevyn Orr, a University of Michigan Law School graduate and former partner at the law firm Jones Day, has been selected by Governor Rick Snyder as Detroit’s Emergency Financial Manager (EFM). As EFM, Orr will be responsible...more
Over the last few years, provisions in credit agreements permitting the Borrower’s equity sponsor and other affiliates (typically referred to as “Affiliated Lenders”), to purchase term loans made thereunder and allowing the...more
May 2 (Bloomberg Law) -- Eastman Kodak Co. filed a Chapter 11 plan that cratered the stock and bumped up the unsecured notes, although the plan may be revised to pay off second-lien debt fully in cash, as Bloomberg Law's Lee...more
If you have read my blog at all you have likely read my mantra that “no body wants to file for bankruptcy”. Sometimes it is just flat out necessary. But how do you know if bankruptcy is the right choice?...more
Perhaps the most common type of off-take contract in a large scale energy project is the take-or-pay contract. A properly constructed take-or-pay contract provides the seller with an assured revenue stream that ensures an...more
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