Courts disagree over whether provisions in a borrower's organizational documents designed to prevent the borrower from filing for bankruptcy are enforceable as a matter of federal public policy or applicable state law. There...more
Courts sometimes disagree over whether provisions in a borrower's organizational documents designed to prevent the borrower from filing for bankruptcy are enforceable as a matter of federal public policy or applicable state...more
10/22/2020
/ Bankruptcy Code ,
Chapter 11 ,
Commercial Bankruptcy ,
Common Stock ,
Corporate Charters ,
Creditors ,
Fiduciary Duty ,
Lenders ,
Limited Liability Company (LLC) ,
Mortgage-Backed Securities ,
Operating Agreements ,
Parent Corporation ,
Public Policy ,
REIT ,
Special Purpose Entities ,
Uniform Commercial Code (UCC)
In a highly anticipated decision, the U.S. Court of Appeals for the Fifth Circuit recently affirmed a bankruptcy court order dismissing a chapter 11 case filed by a corporation without obtaining—as required by its corporate...more
10/11/2018
/ Acquisitions ,
Automatic Stay ,
Bankruptcy Court ,
Borrowers ,
Chapter 11 ,
Controlling Stockholders ,
Corporate Charters ,
Creditors ,
Delaware General Corporation Law ,
Fiduciary Duty ,
Forbearance Agreements ,
Franchises ,
Lenders ,
Mergers ,
Private Equity ,
Public Policy