In this issue:
- Make–Whole Claim in the Amount of 37% of Loan Balance is Enforced by Delaware Bankruptcy Court
- Seventh Circuit Requires Competition for Insider’s New-Value Plan of Reorganization
- Following Castleton Plaza, Competitive Bidding Required Where Insider Asserts ‘New Value’ Exception to Absolute Priority Rule
- Fourth Circuit is the First to Hold Absolute Priority Rule Applicable to Individual Chapter 11 Debtors
- Tenth Circuit Joins Fourth Circuit in Holding that Absolute Priority Rule Applies to Individual Chapter 11 Cases
- Court Affirms Separate Classification, Holds Artificial Impairment Not Per Se Impermissible
- Debtor Had Legitimate Business Reason to Separately Classify Unsecured Claims
- Venue Created by Subsidiary Incorporation ‘Bootstraps’ Venue Selection
- Seventh Circuit Overturns Veil-Piercing
- Subtenant Retains Possessory Rights Under Section 365(h) Despite Explicit Free and Clear Section 363(f) Sale
- Asset Purchaser is Subject to Successor Liability for FLSA Judgment, Despite Specific Disclaimer of Liability
- Comity Outweighed by Significant Differences in Law in Chapter 15 Case
- Seventh Circuit Rules Rejection of Executory Trademark License Does Not Terminate the License, Creates a Split of Authority
- Post-Petition Lock-Down Agreement Does Not Equate to Impermissible Vote Solicitation
- Defrauded Initial Lien Holder Maintains Priority over Subsequent Innocent Lenders
- Mortgage Foreclosure is ‘Debt Collection’ Under Fair Debt Collection Practices
- Exit Lenders Liable for Conversion Where Distributions Contravene Credit Agreement
- Beware the Credit Overbid
- Bank Loses Possessory Lien Following Turnover of Funds to Trustee – Should Have Sought Adequate Protection
- Creditor Defeats Preference Action Based on ‘New Value’ Defense
- A Longer Statute of Limitations Period for Pursuing Fraudulent Transfer Actions May Exist
- Trustee Fails to Carry Burden, Court Affirms Pre-petition Transfers to Cover Check-Kiting Losses Not Avoidable Preference
- Ninth Circuit Joins Majority, Holds Unstayed Judgments Not ‘Bona Fide
- Counsel’s Corner: News From Reed Smith
Download the .PDF to learn more!