Bankruptcy Blogs

Georgia Supreme Court: Foreclosure Confirmation Requirements Can be Waived By Borrowers And Guarantors

03/02/16

foreclosure bank ownedDid the Georgia Supreme Court effectively repeal the foreclosure confirmation statute by affirming the rights of lenders to include waivers in their standard loan documents for both borrowers and guarantors?  That appears to be the case.  In PNC

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Sports Authority Seeks to Honor Gift Cards, Rewards Program in Chapter 11

03/02/16
Bloomberg News

If you have a Sports Authority gift card, take heart—one of the retailer’s first requests in its new chapter 11 bankruptcy case is to continue honoring them.

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Sports Authority Enters Bankruptcy, Could Shut Down Without Buyer

03/02/16
Darren Hauck/Getty Images

Sporting-goods retailer Sports Authority Inc.

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PR: Let's start with financing...

03/01/16

OK, so I start from the premise that holdouts don't want to restructure debt but others do.  Thus, the goal should be incentivize restructuring in a way that beats up on holdouts.  Could the Feds say they'll offer financing (e.g., underwrite new bonds) for people who exchange bonds/debt?

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The Party’s Over for Corporate Bonds, as Moody’s Warns of Rising Defaults

03/01/16

[wsj-responsive-image P="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_P_20160228140650.jpg" J="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_J_20160228140650.jpg" M="http://si.wsj.net/public/resources/images/BN-MU851_SHALEO_M_20160228140650.jpg" caption="" credit="Rick Oxford/Reuters" placement="Inline" ]

Led by rising defaults in the energy and mining sectors, the default rate on corporate bonds this year is expected to hit its highest rate since the financial crisis, Moody’s said in a new report.

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Truthiness, Or the Shenanigans of Executoriness

02/29/16

For the first time in nearly two decades of wrestling with section 365 of the Bankruptcy Code, I feel like I really understand the practical problems with the notion of "executoriness," as well as a constructive way forward.

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Coming and Going Concerns

02/29/16

Jason Cohen has been promoted to partner at law firm Bracewell. Mr Cohen, who is based in Houston, has experience in out-of-court workouts as well as chapter 11 bankruptcies, in which he has represented corporate debtors and creditors. He has worked on chapter 11 cases with assets from $20 million to more than $1 billion. Mr. Cohen earned his law degree from the University of Texas School of Law.

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