In this issue:

• Consequences of the Failure of a Secured Creditor to File a Timely Proof of Claim
• Private Equity Funds Potentially Liable for Portfolio Company’s Unfunded Pension Liability
• Make-Whole Payment Not ‘Unmatured Interest’
• Tax Status of Q-Sub Debtor Not Estate Property; Debtor Has No Standing to Challenge Parent’s Sub-S Revocation
• Don’t Let Excess Insurers Avoid Coverage Based on Settlements or Bankruptcy
• Failure to Execute Plan-Required Documents Very Costly for Subsequent Purchaser
• Creditor Has Two Separate Security Interests in Property and Rents
• Fifth Circuit Now Holds Absolute Priority Rule Applicable to Individual Chapter 11 Debtors
• Third Circuit Predicts Pennsylvania Supreme Court Would Permit Punitive Damages Under Fraudulent Transfer Act
• Court Clarifies Burdens of Proof in Adequate Protection and Lift-Stay Motions
• Tax Refund of Bank Holding Company Sub Belongs to FDIC
• Oil and Gas Lease is Executory When No Extraction Made Pre-Petition
• Undersecured Creditor Electing 1111(b) Treatment Allowed Post-Petition Attorney Fees, But Not Interest
• North Carolina Bankruptcy Court Finds Proposed Plan Not Feasible
• Participation in Bankruptcy Case and Adversary Proceeding Constitutes Waiver of Contractual Arbitration Right
• Lease Amendments May be Severable, and Thus Subject to Assumption and Rejection
• Failure to Precisely Punctuate Debtor’s Name in UCC Filing Costs Creditor Its Liens
• Reopening a Bankruptcy Case to Enforce Anti-Assignment Clause May Be Within Subject Matter Jurisdiction
• Court Lifts Stay, Finds Creditor Objections Did Not Cause Debtor to Miss Confirmation Deadline
• $14 Million Oversecurity Overcomes Plan Risks, Cram-Down Plan Approved
• Cross-Border Comparisons: Piercing the Corporate Veil
• Counsel’s Corner: News From Reed Smith

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