How Bankruptcy Can Solve Your “Too Expensive Car” Problem
Next to home mortgages, motor vehicle loans are often your most expensive purchase. ... Read full article
News Topic: Cram Down
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Relief From Your 72 Month Car Loan
Financial experts bemoan the “crisis” in student loan de ... Read full article
Sixth Circuit Denies Bad Faith Cram Down
In the recent decision of Village Green I, GP v. Fed. Nat’l Mortgage Ass’n (In re Village Green I, GP), 2016 WL 325163 (6th Cir. Jan. 27, 2016), the Sixth Circuit held that the contrived nature of the impairment will cause the plan to fail section ... Read full article
Absolute Priority Rule Absolutism? Strict Interpretation of Bankruptcy Code Cramdown Provisions Nearly Causes Hawker Beechcraft Plan Confirmation to Skid Along the Runway
By nearly any measure, the Chapter 11 cases of Hawker Beechcraft and its affiliates (the “Debtors”) stand as a significant success. The cases began as a standalone reorganization predicated upon a restructuring support agreement (the “RSA”) among the ... Read full article
Chapter 11 Once Again Safe for Undersecured Lenders - Supreme Court Affirms Right to Credit Bid in RadLax
The U.S. Supreme Court today in Radlax Gateway Hotel, LLC, et al. v. Amalgamated Bank unanimously upheld the right of secured creditors to credit bid their debt upon a sale of their collateral pursuant to a nonconsensual chapter 11 plan of ... Read full article
Third Circuit Opinion Creates Precedent Important for Secured Creditors
The Third Circuit released a precedential opinion on May 14, 2012 that can greatly impact bankruptcy debtors attempting to reorganize as well as their secured creditors. A copy of the opinion is available here (the "Opinion") . Because Fox ... Read full article
The World’s Worst Ever Sellout – Is Your State In?
Over 40 states have already signed on to the sellout deal the corrupt politicians negotiated, so they could run for office beating their chests bragging about their tremendous accomplishment, with their mortgage company liege lords, who should have ... Read full article
Second Circuit Affirms Unfavorable Plan Treatment of Senior Secured Creditor in DBSD North America
The Second Circuit Court of Appeals issued a summary order this week upholding the aggressively unfavorable treatment of a senior secured creditor under the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North America (“DBSD”). (The ... Read full article
The Dog That Didn't Bark - Second Circuit's Opinion in DBSD North America Disallows Gifting, But Is Silent on Cramdown of Secured Creditor
As discussed in previous posts on this site , back in December the Second Circuit Court of Appeals issued a summary order that reversed the bankruptcy court’s confirmation of the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North ... Read full article
Does a Single "Or" Excommunicate Congressional Intent From the Bankruptcy Code? Supreme Court to Resolve Circuit Split on Credit Bidding
The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. ... Read full article
So This Is Why Judges Bother to Write Dissenting Opinions -- Seventh Circuit Decision on Credit Bidding Vindicates Judge Ambro's Philadelphia Newspapers Dissent
Critics of last year’s decision on credit bidding by the Third Circuit Court of Appeals in the Philadelphia Newspapers chapter 11 case welcomed the Seventh Circuit’s recent unanimous opinion in River Road Hotel Partners LLC . The Seventh Circuit expressly ... Read full article
Does a Single "Or" Excommunicate Congressional Intent From the Bankruptcy Code? Supreme Court to Resolve Circuit Split on Credit Bidding
The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. ... Read full article
So This Is Why Judges Bother to Write Dissenting Opinions -- Seventh Circuit Decision on Credit Bidding Vindicates Judge Ambro's Philadelphia Newspapers Dissent
Critics of last year’s decision on credit bidding by the Third Circuit Court of Appeals in the Philadelphia Newspapers chapter 11 case welcomed the Seventh Circuit’s recent unanimous opinion in River Road Hotel Partners LLC . The Seventh Circuit expressly ... Read full article
"Plain Meaning" Trumps Long Standing Commercial Lender Expectations in Third Circuit Philadelphia Newspapers Decision
Some cases really should not be all that difficult. However, when judges choose to divorce statutory text completely from any reference to underlying legislative intent and long standing commercial practice, inexplicable results follow. ... Read full article
Second Circuit Affirms Unfavorable Plan Treatment of Senior Secured Creditor in DBSD North America
The Second Circuit Court of Appeals issued a summary order this week upholding the aggressively unfavorable treatment of a senior secured creditor under the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North America (“DBSD”). (The ... Read full article
Texas Rangers Chapter 11 Saga - Lessons Learned?
The Texas Rangers Chapter 11 case is finally winding down, following several weeks of nearly non-stop legal wrangling and high stakes drama. Rangers Baseball Express, LLC (“RBE”), a group fronted by legendary pitcher Nolan Ryan , emerged as the winner ... Read full article
The Dog That Didn't Bark - Second Circuit's Opinion in DBSD North America Disallows Gifting, But Is Silent on Cramdown of Secured Creditor
As discussed in previous posts on this site , back in December the Second Circuit Court of Appeals issued a summary order that reversed the bankruptcy court’s confirmation of the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North ... Read full article
Second Circuit Stays DBSD North America Plan
The chapter 11 case of DBSD North America, Inc. (“DBSD”) , f/k/a ICO North America, has been marked by aggressive tactics and extreme positions from its commencement. DBSD, a non-operating satellite communications company, and its second lien noteholders ... Read full article