Bankruptcy Blogs

On June 27, 2012, the Florida Second District Court of Appeals issued its decision in Geraci v. Ems, 93 So. 3d 384 (Fla. 2nd DCA 2012).  The issue before the Court was whether a person's long-term leasehold interest in his condominium could qualify as a "homestead" exempt from forced sale under article X, section 4 of the Florida Constitution.  The lower Court held that it could not qualify as a homestead as it was not a fee simple interest. The Court of Appeals reversed and held that such a condominium may qualify as a homestead.

J. Michael Booe has joined law firm Winston & Strawn LLP as a partner in the Charlotte, N.C., office. Mr. Booe, a fellow of the American College of Bankruptcy, focuses on corporate financing transactions as well as syndicated commercial and single lender transactions. He has experience representing clients in Chapter 11 cases and other insolvency matters. Mr. Booe earned his law degree from the University of North Carolina at Chapel Hill.

Creditors of Lehman Brothers Holdings Inc. will receive hundreds of millions of dollars from the estate of the bankrupt firm following a settlement with Freddie Mac. Read the Daily Bankruptcy Review article via The Wall Street Journal.

Exide Technologies Inc. and its creditors are vying for the right to launch a probe into suspected metal price-fixing, with an eye toward collecting damages if it turns out the battery-maker was victimized.

The rule prohibits big foreign banks from allocating capital and liquidity in a manner they deem to be most efficient. This may be an acceptable price to pay if the overall result were enhanced stability, but trapping capital and liquidity in particular jurisdictions is likely to make large banks less resilient in times of crisis.