Cherry Picking Contract Provisions in Bankruptcy: Not so Taboo After All?
By Blanka Wolfe ... Read full article
News Topic: BankruptcyandRestructuringBlog
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Committee's Attack upon Lender's Make-Whole Premium Denied
By Shawn K. Watts The United States Bankruptcy Court for the District of Delaware (the “Court”) recently upheld a $23.7 million make-whole payment (the “Make-Whole Payment”) in In re School Specialty (Case No. 13-10125), denying the assertion by the ... Read full article
Saying Goodbye to Fannie and Freddie?
By Kristy Young ... Read full article
Delaware Court Provides Critical Guidance as to the Commercial Reasonableness of a UCC Article 9 Foreclosure Sale
By Raphaela Taylor ... Read full article
The Libor Scandal: What's Next?
By Evan Sypek The London Interbank Offered Rate (Libor) is calculated daily by the British Banking Association (BBA) and published by Thomson Reuters. The rates are calculated by surveying the interbank borrowing costs of a panel of banks and averaging ... Read full article
The Stockton Saga Continues: Untouchable Pensions on the Chopping Block?
By Barbara Altimus Shreero Judge Christopher M. Klein's decision to accept the City of Stockton's petition for bankruptcy on April 1, 2013 set the stage for a battle over whether public workers' pensions can be reduced through municipal ... Read full article
The Ninth Circuit Holds that Bankruptcy Courts Have Authority to Recharacterize Debt as Equity
By Robert Sahyan ... Read full article
Student Loans: Nondischargeability Questioned in Seventh Circuit and Beyond
By Adam McNeile ... Read full article
Claims Trading From The Inside Out: Ninth Circuit BAP Holds That A Non-Insider Claimant's Vote On A Plan Is Not Discounted Merely Because The Claimant Purchased Its Claim From An Insider
By Michael M. Lauter ... Read full article
Judge Rules In Favor Of Stockton And Accepts Chapter 9 Petition
By Danielle Kennedy Round one of the fight between the City of Stockton, California and its creditors is finally over. On April 1, 2013, Bankruptcy Judge Christopher M. Klein held that Stockton satisfied the eligibility requirements for a Chapter 9 ... Read full article
Lenders Beware -- Fifth Circuit has lowered the bar for cramdown plan confirmation
By Eugene Kim In a recent Fifth Circuit decision, Western Real Estate Equities, LLC v. Village at Camp Bowie I, L.P. , No. 12-10271 (5th Cir. 2013), the court held that the acceptance vote from a minimally and “artificially impaired” class of claims ... Read full article
The Seventh Circuit Expands Scope of Absolute Priority Rule to Protect Creditors
By Blanka Wolfe ... Read full article
Lenders Beware -- California decision may ignite next wave of lender liability litigation
By Reed Mercado ... Read full article
Bankrupt Municipality May Reduce Retiree Benefits
By Aaron Kleven ... Read full article
Tribal Corporate Bankruptcy Petition Raises Issues of First Impression for Bankruptcy Court
By Christine Swanick , Carren Shulman , Wilda Wahpepah , and Shawn Watts ... Read full article
Lenders Beware - Oral Statements may Trump Written Agreements
By Kristy Young The California Supreme Court recently held that a borrower may rely upon oral promises to support a fraud claim against its lender even when such oral promises contradict the written agreement. ... Read full article
Chapter 9 - California and Federal Bankruptcy Law/Relative Bargaining Positions
By Alan Martin and Matthew Holbrook ... Read full article
Chapter 9 - California and Federal Bankruptcy Law/Relative Bargaining Positions
By Alan Martin and Matthew Holbrook ... Read full article
Canonized Credit-Bidding: The Supreme Court Unanimously Affirms Secured Creditor's Right to Credit-Bid at Free and Clear Sale in Plan
On May 29, 2012, the Supreme Court ruled 8-0 that a debtor could not confirm a plan over a secured creditor’s objection if the plan provided for the sale of the secured creditor’s collateral free and clear of liens, but did not provide the secured ... Read full article
Canonized Credit-Bidding: The Supreme Court Unanimously Affirms Secured Creditor's Right to Credit-Bid at Free and Clear Sale in Plan
On May 29, 2012, the Supreme Court ruled 8-0 that a debtor could not confirm a plan over a secured creditor’s objection if the plan provided for the sale of the secured creditor’s collateral free and clear of liens, but did not provide the secured ... Read full article