Debt

Ninth Circuit Overrules Longstanding (But Questionable) Bankruptcy Appellate Panel Precedent to Allow Bankruptcy Court to...

by Kevin Coleman, Valerie Peo | Schnader Harrison Segal & Lewis LLP on 5/20/2013

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

The Ninth Circuit Holds that Bankruptcy Courts Have Authority to Recharacterize Debt as Equity

by Robert Sahyan | Sheppard Mullin Richter & Hampton LLP on 5/15/2013

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

"They Owe You" Does Not Always Mean You Can Withhold

by Bennett Epstein | Foley & Lardner LLP on 5/14/2013

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

CFPB Issues Report, Holds Field Hearing On Student Loan Relief Policy Options

by BuckleySandler LLP on 5/14/2013

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

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

by Christine Waldmann Carmody, Blair L. Schiff | Pepper Hamilton LLP on 5/10/2013

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

Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

by Daniel Huitink | Snell & Wilmer L.L.P. on 5/9/2013

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

What to Bring to Your First Meeting with Your Bankruptcy Lawyer

by Jeff Field | Jeff Field & Associates on 5/6/2013

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

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

by Alyson Allen, Mark Bane, Stephen Moeller-Sally, James Wilton | Ropes & Gray LLP on 5/3/2013

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

The "Olympics of Restructuring": Kevyn Orr Named Detroit's EFM

by Tamar Dolcourt | Foley & Lardner LLP on 5/3/2013

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

Bankruptcy Implications of Affiliated Lender Provisions and Debt Buybacks - Unenforceability of Bankruptcy Voting Proxies Expose...

by King & Spalding on 5/2/2013

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

Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock [Video]

by Bloomberg Law on 5/1/2013

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

Decisions, Decisions. Bankruptcy or Debt Settlement?

by John Skiba on 4/29/2013

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

TRANSACTIONAL: Project Development/Finance: Key Considerations in Energy Take-or-Pay Contracts

by King & Spalding on 4/22/2013

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

New Changes to the Late Payment of Commercial Debts (Interest) Act

by Paul Cowan, Anthony Lavers, Rebecca Shorter | White & Case LLP on 4/18/2013

On 16 March 2013, new regulations came into force in relation to the Late Payment of Commercial Debts (Interest) Act. Enacted to incorporate a recent EU Directive, these new regulations introduce a maximum payment...more

Rogers Towers: Debts Non-Dischargeable When Use of Proceeds Intentionally Misrepresented

by Scott St. Amand, J. Ellsworth Summers, Jr. | Rogers Towers on 4/16/2013

When an individual obtains a loan with no intention of repaying the lender, it is well established that such a debt is not dischargeable in bankruptcy. If, however, a debtor does not misrepresent its intent to repay the...more

Asset Division Includes Dividing Debts

by Boyer, Dawson & St. Pierre on 4/15/2013

One of the most complex aspects of the divorce process can be dividing marital assets — and debts. When a court divides a divorcing couple’s debts, its goal is primarily to divide the debts in a way that is fair to both...more

Don’t Get Screwed by Your Spouse on Tax Day

by Aaron Kase | Lawyers.com on 4/15/2013

Tax day is Apr. 15, as many consumers making last-minute trips to the post office are already painfully aware. What some people might not realize is that tax day may be the day that they get screwed over financially by their...more

The fate of Argentina's debt restructuring is getting closer

by Sheppard Mullin Richter & Hampton LLP on 4/15/2013

In what the Financial Times has called “the sovereign debt restructuring case of the century,” Argentina has timely submitted its proposal as requested by the U.S. Court of Appeals for the Second Circuit, with which it is...more

California’s Community Property Law

by Law Office of Steven M. Bishop on 4/10/2013

Fox Business News recently ran an interesting question from a viewer named David. He asked whether an authorized user on a credit card (as distinct from a joint credit card holder) is responsible for all charges incurred if...more

Debt Buyer Lawsuits: The Illusion of Evidence

by John Skiba on 4/10/2013

Midland Funding Law suitIf you have been sued by one of the debt buyers, Midland Funding, Portfolio Recovery, LVNV Funding, you may have felt intimidated not only by the debt collection process but by the fact that you are...more

Who Gets the House in a Divorce?

by Janet Raasch | Lawyers.com on 4/1/2013

In a divorce, assets and debts accrued during the marriage are divided. The most valuable marital asset is usually the house. The largest debt is usually the mortgage. Deciding what happens to the house is often complicated...more

Water and Wastewater Projects: Financing with Tax-Exempt Bonds

by Devin Brennan, Stephen Spitz | Orrick, Herrington & Sutcliffe LLP on 3/27/2013

Introduction - Managers of water and wastewater utilities face complex financial challenges. The purpose of this guidebook is to provide an overview of issues relating to the financing of water and wastewater projects...more

Five Things To Know When Contemplating the Issuance of Municipal Debt

by Timothy J. Horstmann, Donna Kreiser | McNees Wallace & Nurick LLC on 3/22/2013

Municipal financings are often perceived as a very complex, and even overwhelming, undertaking. The various rules and regulations which govern the process oftentimes seem complicated and difficult to understand. Keep in mind...more

Under The Dome: Inside The Maine State House 3-15-13

by Avery T. Day, John D. Delahanty, Andrea Cianchette Maker | Pierce Atwood LLP on 3/19/2013

Under the Dome: Inside the Maine State House is a weekly update that provides a high-level overview of recent activity at the Maine State House... In This Issue: - Spring-Like Weather Brings Slight Thaw to...more

4 Tips to Winning Your Midland Funding Lawsuit

by John Skiba on 3/18/2013

Midland Funding is a debt buyer that buys Arizona debts in huge volume. If you have been sued by Midland Funding your first thought was likely “Midland who?” After getting over the unsettling experience of being sued it is...more

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Ninth Circuit Overrules Longstanding (But Questionable) Bankruptcy Appellate Panel Precedent to Allow Bankruptcy Court to...

The Ninth Circuit Holds that Bankruptcy Courts Have Authority to Recharacterize Debt as Equity

"They Owe You" Does Not Always Mean You Can Withhold

CFPB Issues Report, Holds Field Hearing On Student Loan Relief Policy Options

Summary Of HUD’s LEAN 232 Program E-Mail Blast: Office Of Residential Care Facilities (ORCF), April 29, 2013

Global Connection - May 2013: Ninth Circuit Strikes Down $45 Million Class Action Settlement and Issues Warning About Use of...

What to Bring to Your First Meeting with Your Bankruptcy Lawyer

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

The "Olympics of Restructuring": Kevyn Orr Named Detroit's EFM

Bankruptcy Implications of Affiliated Lender Provisions and Debt Buybacks - Unenforceability of Bankruptcy Voting Proxies Expose...

Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock [Video]

Decisions, Decisions. Bankruptcy or Debt Settlement?

TRANSACTIONAL: Project Development/Finance: Key Considerations in Energy Take-or-Pay Contracts

New Changes to the Late Payment of Commercial Debts (Interest) Act

Rogers Towers: Debts Non-Dischargeable When Use of Proceeds Intentionally Misrepresented

Asset Division Includes Dividing Debts

Don’t Get Screwed by Your Spouse on Tax Day

The fate of Argentina's debt restructuring is getting closer

California’s Community Property Law

Debt Buyer Lawsuits: The Illusion of Evidence

Who Gets the House in a Divorce?

Water and Wastewater Projects: Financing with Tax-Exempt Bonds

Five Things To Know When Contemplating the Issuance of Municipal Debt

Under The Dome: Inside The Maine State House 3-15-13

4 Tips to Winning Your Midland Funding Lawsuit

Bill on Bankruptcy: Kodak Plan Bumps the Debt, Craters Stock [Video]

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