Bill on Bankruptcy: What's in the $83M ResCap Examiner's Report?
Bill on Bankruptcy: Stockton May Win the Battle, Lose the War
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
May 29 (Bloomberg) -- The examiner in the Residential Capital bankruptcy has charged approximately $83 million to create his report, but it remains under seal. Berkshire Hathaway has asked the judge to unseal the report...more
As the American economy continues to slog through the ongoing Great Recession, even financially sound companies face challenges due to the continued economic malaise. In particular, a company that works with suppliers,...more
April 2 (Bloomberg Law) -- Although Stockton, California established the right to be in a Chapter 9 municipal bankruptcy, the judge warned the city that victory may be short-lived if bondholders prove that pensioners must...more
Can an equity investor who directs an insider to contribute "new value" to a debtor under a plan of reorganization, so as to retain his interest in the company, avoid an express market test for that new equity? The answer to...more
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