Chinese Manufacturers
June 23, 2009
With the recent financial crisis that has affected many American importers, wholesalers, and retailers, Chinese manufacturers should be prepared to deal with financially distressed U.S. customers that seek to rehabilitate their businesses through Chapter 11 bankruptcy.
Seventh Circuit Vindicates Secured Lenders' Right to Full Payment
June 23, 2009
The U.S. Court of Appeals for the Seventh Circuit held on May 5, 2009, that two secured lenders were fully secured, "entitled to a full recovery" from the debtor ("UAL") despite the bankruptcy court's improper valuation of the collateral (improved airport terminal space) securing the lenders' underlying $60 million loan.
Debt Exchange Offers in the Current Market
June 23, 2009
The recent financial crisis and dislocation in the financial markets has had significant consequences for bankruptcy and restructuring professionals. One such consequence is a dramatic increase in the use of debt exchange offers as a liability management tool.
Perplexing Problems Under the Uniform Transfers to Minors Act
May 26, 2009
The Uniform Transfers to Minors Act, like its predecessor, The Uniform Gifts to Minors Act, is a comprehensive statutory scheme designed to allow money and property to be transferred to children easily. However, disputes have crept into family law and related proceedings. Becoming familiar with the UTMA will help you avoid problems in settling or trying cases that involve custodial assets.
Cap on Legal Fees in Bankruptcy Alarms Firms
May 26, 2009
Lawyers representing directors and officers of IndyMac Bancorp Inc. are attempting to remove a cap on their billing rates, the latest example of how judges are scrutinizing hourly fees in large bankruptcies.
Intercreditor Dynamics in Bankruptcy
May 26, 2009
When a creditor enters the realm of bankruptcy, lenders often find that the many detailed provisions of an extensively negotiated intercreditor agreement are no longer controlling. On the contrary, the intercreditor agreement may have little influence on the outcome of many critical matters that arise in bankruptcy.
Considerations of Examiner Appointments in Bankruptcy Actions
May 26, 2009
Examiner appointments in Chapter 11 bankruptcy cases are uncommon, and despite Judge Peter J. Walsh's statement that he had appointed an examiner only two or three times during his career as a bankruptcy judge, he recently ordered the appointment of an examiner in <i>In re DBSI, Inc.</i>
On the Move
April 24, 2009
Who's doing what; who's going where.
Unfinished Business: Swap Participants Gain Ground
April 24, 2009
On Feb. 11, 2009, the United States Court of Appeals for the Fourth Circuit recognized the broad protections afforded to swap agreements under the Bankruptcy Code. Here is a review of the case.
