New Consumer Bankruptcy Reform Act Implications and the 2023 Congressional Outlook - The Consumer Finance Podcast
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 2)
Advancing Agriculture: Security Interests and Article 9 Challenges (Part 1)
Q: I am a receiver for a partnership. I was appointed pursuant to a stipulation between the current partners and a secured creditor. After an extensive investigation, I have sued the former managing partner and her mother to...more
The commercial real estate industry is facing an impending tsunami of $2 trillion in debt maturities, with an estimated $929 billion coming due this year. If you will be caught in this net because the loan secured by your CRE...more
If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more
The FCC has fined Nexstar Media Group, Inc. and Mission Broadcasting, Inc. $1.8 million after finding Nexstar exercised de facto control over Mission’s Station WPIX (TV) in New York without FCC consent. The FCC also found...more
It was a muted start to the year for the acquisition and leveraged finance market due to a challenging macroeconomic climate. Interest rate hikes at one of the fastest paces on record, surging inflation (particularly in...more
CRE Secured Debt Purchase Transactions present unique risks that should be understood and carefully managed. Current market conditions may present unprecedented opportunities to purchase debt secured by distressed...more
US Supreme Court torn over Purdue bankruptcy suit| Reuters - On Monday, U.S. Supreme Court justices grappled with whether to affirm OxyContin producer Purdue Pharma’s bankruptcy plan. S&K Take: Really couldn’t lead...more
While some states have moved to adopt model Uniform Commercial Code (UCC) provisions to provide a clear legal framework for commercial and secured transactions involving crypto assets, Oregon has yet to take action. This is a...more
In light of the banking failures of Silicon Valley Bank, Signature Bank and First Republic (as well as Credit Suisse), this summer, the Federal Reserve and the FDIC proposed guidance and rules for larger banks to (i) develop...more
What Happened? One fundamental question in any restructuring relates to the treatment of funded debt obligations, like mortgages. When the cost of prepetition debt is higher than the prevailing market rates, a debtor may...more
On Aug. 24, the U.S. Court of Appeals for the Second Circuit issued its highly anticipated decision in the case of Kirschner v. J.P. Morgan Chase Bank NA. The three-judge panel unanimously upheld the district court's...more
Much has been written about how to calculate the appropriate interest rate for the deferred cash payments a debtor may propose to pay to a rejecting secured creditor under a “cramdown” Chapter 11 plan to meet the “fair and...more
On August 24, 2023, the Second Circuit prevented turmoil in the commercial lending market, ruling in Kirschner v. JP Morgan Chase Bank, N.A. (JPM), et al. that syndicated secured term loan notes were not securities for...more
Troutman Pepper's Creditor’s Rights Toolkit is a series that provides practical insights to help creditors confront the challenges of commercial bankruptcy. A claims agent is a third party retained by the debtor to take on...more
In April, we discussed how Colorado’s state supreme court issued its highly anticipated decision confirming a borrower’s bankruptcy discharge does not accelerate secured installment debt or trigger the final statute of...more
What Was Intended? Transactions between commonly controlled, closely held businesses are often conducted in an informal manner. This is unfortunate because, in the absence of documentation, it is sometimes difficult to...more
A novel debt restructuring plan will allow the carrier to recover following pandemic turbulence. In December 2022, Hong Kong Airlines’ Hong Kong scheme and English restructuring plan were sanctioned by the respective...more
Third-Party Releases are common in English law schemes of arrangement and restructuring plans, and US courts have so far indulged that approach in granting recognition. If Prospero’s plea to the audience at the...more
Instant Brands, maker of Instant Pot and Pyrex, files for bankruptcy | CNN - Instant Brands, the parent company of many popular kitchen products, filed for Chapter 11 bankruptcy this week. Instant Brands produces Instant...more
Former British Prime Minister Tony Blair once famously declared that “our top priority was, is and always will be education, education, education.” To adopt this mantra in an enforcement context, for lenders the top priority...more
Bankruptcy Basics for New and Non-Bankruptcy Attorneys - This entry is part of Nelson Mullins’s ongoing “Bankruptcy Basics” blog series that is intended to address foundational aspects of bankruptcy for new and...more
Continuing on with our series on Bankruptcy Schedules, today we’ll look at Schedule D, which is used to list all of the secured debts that you owe as of the date that you filed for bankruptcy. Secured debts are those that...more
There is a trend among state legislatures to regulate commercial finance more tightly, including federal Truth in Lending Act (TILA)-style disclosure requirements more typically seen in the consumer lending context. Now,...more
In In re CII Parent, Inc., the Bankruptcy Court for the District of Delaware affirmed a secured lender’s prepetition exercise of its proxy rights and its subsequent removal and replacement of the directors/managers of the...more
On April 17, 2023, the Fifth Circuit Court of Appeals, in Matter of RE Palm Springs II, L.L.C., 2023 WL 2966520 (5th Cir. April 17, 2023), held that a senior lender who uses economic leverage and asserts its legal rights to...more