Secured Creditors

Surcharges in Bankruptcy - A Risk You Can Plan For?

by Jan Hayden | Baker, Donelson, Bearman, Caldwell &... on 5/3/2013

The Bankruptcy Code is a balancing act with each section promoting one or more of three competing principles: the protection of a secured creditor's property rights, equitable and equal distribution to unsecured creditors or...more

Wilbur Ross Says Results-Based System Can Curb Ch. 11 Fees

by Bernstein Shur on 4/26/2013

Law360, New York (December 03, 2012, 7:05 PM ET) -- An American Bankruptcy Institute commission designed to take stock of the state of Chapter 11 anticipates that any changes to the Bankruptcy Code would likely focus on the...more

Foreclosure Law In The Wake Of Recent Decisions On Residential Mortgage Loans: The Situation In Georgia

by Ashby Kent Fox, John Oshea Sullivan, Amanda E. Wilson | Burr & Forman on 3/14/2013

Originally Publish in Pratt's Journal Of Bankruptcy Law, February/March 2013. Thousands of wrongful foreclosure lawsuits are filed each year in Georgia against banks, lenders, servicers, foreclosure firms, and other...more

A Key Lesson for Owners and Prime Contractors About Payments

by Duane Morris LLP on 3/14/2013

Consider the following scenario: A prime contractor with a financially-shaky subcontractor agrees with the subcontractor's secured lender to make payments directly to the lender, but the word is not passed along to the...more

Rogers Towers: Florida Deficiency Proceedings: Establishing the Value of the Property

by Scott J. Kennelly, Janet C. Owens | Rogers Towers on 3/12/2013

Following a foreclosure sale, a secured creditor may seek a monetary judgment for the deficiency amount that remains owed to it by the borrower. If the creditor was the successful bidder at the foreclosure sale, it has the...more

Rogers Towers: Florida Foreclosure Sales: Developing a Maximum Bid

by Scott J. Kennelly | Rogers Towers on 2/28/2013

A secured creditor who obtains a foreclosure judgment has the ability to “credit bid” at the foreclosure sale up to the full amount indicated in the judgment, without being required to deposit any funds with the Clerk of the...more

Commercial Restructuring & Bankruptcy Alert - February 2013

by Peter Clark, Joseph Filloy, Joanne Finch, Marsha Houston, Jeanne Stancampiano Lofgren, Elizabeth McGovern, Charlotte Møller, Ann Pille, Christopher Rivas, Jared Roach, Richard Robinson, more +Brian Schenker, Alison Wickizer Toepp, Lauren Zabel | Reed Smith on 2/21/2013

In this Issue: - Lenders Beware - International Insolvency Laws: Will One Size Fit All? The Debate Continues - ‘Fair and Equitable’ Means More Than Amortization Schedule - Pre-Petition Security License...more

Important Update on Georgia Foreclosures

by Jonathan Green, Scott Michalove | Baker, Donelson, Bearman, Caldwell &... on 2/15/2013

Last year, we alerted to you to a ruling by the Georgia Court of Appeals that altered the notice requirements for non-judicial foreclosure in Georgia. In that case, Reese v. Provident Funding Associates, the Georgia Court of...more

Indalex: What Are the Pension Implications?

by Anthony Devir, Ian McSweeney, Lesha Van Der Bij | Osler, Hoskin & Harcourt LLP on 2/11/2013

“When a business becomes insolvent, many interests are at risk. Creditors may not be able to recover their debts, investors may lose their investments and employees may lose their jobs. If the business is the sponsor of an...more

Alfa v Cukurova, Part VII

by Harney Westwood & Riegels on 2/5/2013

Like a low budget horror film, the Alfa v Cukurova litigation seems to have an inexhaustible supply of sequels. However, beyond a propensity for repetition, there the end of parallels to low budget horror films ends (or low...more

Can A Receiver Be Appointed To Collect Accounts Receivable?

by Peter Davidson | Ervin Cohen & Jessup LLP on 8/22/2012

QUESTION: Can a receiver be appointed at the request of a secured creditor holding a lien on accounts receivable for the limited purpose of collecting the receivables?...more

Is It Necessary To Give Unsecured Creditors Notice of Motions in Receivership Cases?

by Peter Davidson | Ervin Cohen & Jessup LLP on 8/8/2012

QUESTION: In an operating receivership with an impaired secured creditor, where there is no possibility of payment to unsecured creditors, is it necessary to notice unsecured creditors on motions? ANSWER: The answer is...more

SCOTUS: Secured Creditors Cannot Be Denied the Right to Credit-Bid

by Sands Anderson PC on 6/14/2012

On May 29, 2012, the United States Supreme Court decided Radlax Gateway Hotel, LLC v. Amalgamated Bank, ruling that secured creditors cannot be denied the right to credit-bid on the sale of property or assets in the context...more

SCOTUS' RadLAX Decision Affirms Lenders' Rights to Credit Bid in Chapter 11

by Dechert LLP on 6/1/2012

May a Chapter 11 plan permit a debtor to auction property free and clear of a creditor’s lien while preventing that creditor from credit-bidding the amount of its debt? A question that split the U.S. Circuit Courts was...more

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