Bankruptcy Blogs

The title pretty much sums it up, but this fastFT article gives a few details. The short of it: $4.65 billion to the group of holdouts led by NML (a roughly 25% haircut, reportedly), with the payment still requiring legislative approval in Argentina.

In the month of February 2016, Charles A. Stanziale, Jr., in his capacity as the Chapter 7 Trustee of BMT-NW Acquisition, LLC (“Debtor”), filed approximately 49 preference actions seeking the avoidance and recovery of alleged preferential actions under Sections 547 and 550 of the Bankruptcy Code.

By way of background, the Debtor filed a voluntary petition for relief under Chapter 7 of the Bankruptcy Code on February 14, 2014.  On the same day, Mr. Stanziale was appointed as the Chapter 7 trustee to the Debtor’s bankruptcy estate.

Introduction

Some thoughts on the new rules for broker-dealer OLA cases, over at Dealb%k.