News & Analysis as of

Secured Debt Commercial Bankruptcy

Ervin Cohen & Jessup LLP

Can You Collaterally Attack a Receiver’s Appointment?

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

Latham & Watkins LLP

Lexology In-Depth - Acquisition And Leveraged Finance

Latham & Watkins LLP on

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

Kramer Levin Naftalis & Frankel LLP

New York Bankruptcy Court Raises the Cost of Keeping Funded Debt: Debtor Needs to Pay Default Interest Rate in Reinstatement of...

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

Goodwin

Till We Meet Again: Eighth Circuit Weighs in on Appropriate Interest Rate in a Cramdown

Goodwin on

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

Troutman Pepper

Who Is the Claims Agent and What Type of Information Can I Obtain on Their Website? - Creditor’s Rights Toolkit

Troutman Pepper on

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

Troutman Pepper

Washington Becomes Latest State to Decide Bankruptcy Impact on Debt Collection Statute of Limitations

Troutman Pepper on

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

Latham & Watkins LLP

Release Me From My Bands Or Else My Project Fails Third Party Releases in Schemes

Latham & Watkins LLP on

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

Nelson Mullins Riley & Scarborough LLP

Bankruptcy 101: Claims: Types and Priorities

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

Freeman Law

Bankruptcy Schedules: Schedule D

Freeman Law on

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

Eversheds Sutherland (US) LLP

Whose right is it? Impact of bankruptcy on lender's prepetition exercise of proxy rights

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

Nelson Mullins Riley & Scarborough LLP

Fifth Circuit Holds that Section 363(m)’s “Good Faith Purchaser” Protection Applies to Secured Creditor that Used “Economic...

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

Kramer Levin Naftalis & Frankel LLP

And Another Lender Blocking Provision Bites the Dust, Texas Bankruptcy Court Rules

One feature commonly seen in commercial lending transactions is a waiver of the borrower’s authority to file for bankruptcy without the consent of the lender. While such “blocking” provisions are generally upheld where the...more

Kramer Levin Naftalis & Frankel LLP

Bad ‘Timing’: Southern District of New York Bankruptcy Court Adopts Time Approach to Limiting Landlord Lease Damages, but Other...

When enacting the Bankruptcy Code, Congress sought to strike a balance amid the confluence of different — and often competing — interests held by debtors, secured creditors and various unsecured creditor constituencies...more

Miller Canfield

Real Estate Assets in a Bankruptcy/Restructuring: Selected Issues

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When an entity in financial distress is declared bankrupt, or placed under a court-supervised rescue mechanism under the Restructuring Law, among the many legal consequences are those pertaining to real estate assets that it...more

Miller Canfield

Receiverships Under Michigan's New Assignment of Rents Act

Miller Canfield on

The Michigan Uniform Assignment of Rents Act (“MUARA”), which takes effect on September 22, 2022, strengthens both the right to obtain a receiver and the power of the receiver to collect past due rent. The MUARA also confirms...more

Miller Canfield

Passage of Bankruptcy Threshold Adjustment and Technical Corrections Act

Miller Canfield on

Congress has made some small but important changes to the Bankruptcy Code through its enactment of the Bankruptcy Threshold Adjustment and Technical Corrections Act (the "Act") on June 21, 2022. The most important of these...more

Obermayer Rebmann Maxwell & Hippel LLP

The Heavy Burden of Sustaining an Administrative Claim Just Got A Bit Lighter In Delaware Bankruptcy Court

Recently-appointed Delaware Bankruptcy Judge Craig T. Goldblatt, in the case of oil and gas driller MTE Holdings LLC, ruled that to establish an administrative claim entitled to priority payment, a creditor is not required to...more

Dechert LLP

Amicus Finance plc (in administration): High Court sanctions first mid-market restructuring plan, despite the opposition of...

Dechert LLP on

On the 19th of August 2021, the English High Court sanctioned a Part 26A restructuring plan proposed by the administrators of Amicus Finance plc (in administration) (“Amicus”) for the company’s solvent exit from...more

Lowenstein Sandler LLP

Bankruptcy Lending Is Very Profitable

Lowenstein Sandler LLP on

In a historically low interest rate environment, where can you find returns in the double digits? Surprisingly, the answer is in chapter 11 bankruptcy cases as a “DIP” (debtor in possession) lender. DIP Loans Can Be...more

Dorsey & Whitney LLP

Bankruptcy Topics In Distressed Real Estate

Dorsey & Whitney LLP on

Bankruptcy cases involving commercial real estate present a multitude of problems. Those problems typically arise in the context of voluntary cases filed under chapter 11 of the Bankruptcy Code, 11 U.S.C. §§ 101-1532...more

Miller Canfield

Practice Pointer: Review Your Loan File Now to Avoid Problems Later

Miller Canfield on

When a loan becomes distressed, it is essential for the secured lender to conduct a file review to determine if there are any deficiencies that need to be addressed. If deficiencies are not addressed, the lender’s collateral...more

Miller Canfield

To Reclaim or Not to Reclaim, That Is the Question

Miller Canfield on

With many bankruptcy cases looming on the horizon as a result of the pandemic and the measures taken to contain it, prudent creditors are reacquainting themselves with their rights, including the right of reclamation....more

Bowditch & Dewey

Getting Paid in Bankruptcy – Part II, Goods and Services

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In this series, we look at how various payment rights are treated in bankruptcy. A summary like this could not possibly address every right that might arise in any given bankruptcy case. We have omitted several of the...more

Jones Day

Oversecured Creditor's Right to Contractual Default-Rate Interest Allowed Under State Law

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It is generally well understood that an "oversecured" creditor is entitled to interest and, to the extent provided for under a loan agreement, related fees and charges as part of its secured claim in a bankruptcy case....more

White & Case LLP

PKPU update: a secured creditor is permitted to file a PKPU petition again

White & Case LLP on

The Indonesian Supreme Court has reinstated the right of secured creditors to file a bankruptcy and suspension of payment (Penundaan Kewajiban Pembayaran Utang or PKPU) process....more

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