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Secured Debt Liens

Bradley Arant Boult Cummings LLP

Bradley’s Bankruptcy Basics: Secured vs. Unsecured Claims

Bankruptcy is primarily about “claims.” The debtor seeks to discharge personal liability on claims, while creditors seek payment on their claims. In basic terms, a bankruptcy “claim” is a right to payment. The claim does not...more

Husch Blackwell LLP

Advancing Agriculture: Security Interests and Article 9 Challenges (Part 2)

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In the second installment of this two-part series, Husch Blackwell's Elizabeth Benefield & Stephanie Kaiser will discuss security interests in agricultural lending and some of the issues a creditor may face in these areas....more

Hudson Cook, LLP

Lien Filing Error Renders Creditor's Claim Unsecured

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Many steps creditors take in the process of directly or indirectly originating a vehicle finance agreement are designed to protect the creditor in the event its credit risk assessment was off and the consumer defaults. A...more

Jones Day

Secured Lenders’ Interest Does Not Reach Reorganized Equity

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In In re MPM Silicones, LLC, the U.S. District Court for the Southern District of New York recently affirmed a 2014 opinion by the U.S. Bankruptcy Court for the Southern District of New York in an intercreditor dispute that...more

King & Spalding

First Circuit Finds Chapter 9 Special Revenue Provisions Permit Voluntary Payment, But Do Not Require Them

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On March 26, 2019, the First Circuit Court of Appeals, affirming a decision by the District Court emanating out of the Puerto Rico Title III bankruptcy cases, found that Sections 928(a) and 922(d) of the Bankruptcy Code...more

Locke Lord LLP

J. Crew Group, Inc.: Use of Credit Facility Baskets Eviscerates Value of Term Loan Collateral

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On September 7, 2017, an ad hoc, minority group of J. Crew’s senior term lenders (the “Dissenting Lenders”) filed an amended complaint against J. Crew and its affiliates (collectively, “J. Crew”) in the Supreme Court of the...more

Snell & Wilmer

Nevada Supreme Court Clarifies the Litigation Waiver of the One-Action Rule

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Nevada has a one-action rule which, with limited exceptions, requires a creditor seeking to recover a debt secured by real property to proceed against the security first prior to seeking recovery from the debtor personally....more

Cadwalader, Wickersham & Taft LLP

Buyer (and its Creditors) Beware: SemCrude District Court Finds That Purchasers Took Oil and Gas Free and Clear of Producers'...

Although almost eight years have lapsed since the chapter 11 cases of Tulsa, Oklahoma-based SemCrude L.P. were confirmed, many of the issues at the forefront of those cases are re-emerging in light of the recent uptick in oil...more

Allen Matkins

Supreme Court Reaffirms a Chapter 7 Debtor's Inability to Strip a Lien Against Real Property

Allen Matkins on

Reaffirming its 1992 decision in Dewsnup v. Timm, on June 1, 2015, the U.S. Supreme Court in Bank of America v. Caulkett, No. 13-1421, once again ruled that a chapter 7 debtor may not void a junior lien under Bankruptcy Code...more

Farella Braun + Martel LLP

Growers Can Lien on Distressed Wineries

A lot goes into the making of great wine, and when a winery becomes financially unstable, there are a lot of competing interests that need to be satisfied, including the banks that provide the winery with financing, the...more

Skadden, Arps, Slate, Meagher & Flom LLP

"Post-Petition Restructuring Support Agreement Survives Challenge in Delaware"

Background - The debtors in Indianapolis Downs operated a combined horse racing track and casino in Indiana. They had substantial secured indebtedness: more than $98 million of first lien (first priority), $375 million...more

Blank Rome LLP

Transformation of Tort Claim into Different Type of Collateral Did Not Give Secured Creditor a Lien

Blank Rome LLP on

An October 2011 decision from the United States District Court for the Northern District of New York highlights the importance of correctly taking all of the steps necessary to obtain a security interest in commercial tort...more

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