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Recent Decision Caps Secured Creditor’s Credit Bid in §363 Sale to Purchase Price of Acquired Debt

It is well-settled that secured creditors are ordinarily entitled to credit bid their allowed secured claim in a sale pursuant to § 363 of the Bankruptcy Code (the “Code”). In Radlax Gateway Hotel, LLC v. Amalgamated Bank,...more

Capital Infusion: Case Spotlight: In re SemCrude, L.P.

Sudden interruptions in oil supplies caused by the 1973 Arab oil embargo, the Iranian revolution of 1979 and the outbreak of the war between Iran and Iraq in 1980 led to the energy crises of the 1970’s and 1980’s, forcing...more

Burr Alert: The Basics Of Cramdown Interest Rates In Chapter 11

A debtor in a chapter 11 bankruptcy may treat a secured claim in one of two ways in its plan of reorganization: (1) the debtor may propose to cure any existing default, compensate the creditor for any loss sustained by the...more

The $382,901 Check Really is in the Mail

We recently delivered a $382,901 check to a client in payment of a Bankruptcy Section 503(b)(9) claim, known as a “20-day administrative” claim. The claim arose from the client’s pre-petition sale of goods to its customer....more

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

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

Commercial Restructuring & Bankruptcy Alert - February 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

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

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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