Welcome to the May 2015 issue of the CR&B Alert, the newsletter produced by Reed Smith's Commercial Restructuring & Bankruptcy Group. Readers who wish to print and read the newsletter in its entirety may do so by downloading the .PDF below. Please share your feedback and ideas. We appreciate the opportunity to serve you.
In this Issue:
- How Safe are the Bankruptcy Code Safe Harbors?
- Stockton’s Chapter 9 Plan Approval
- Delaware Chancery Court Clarifies Fiduciary Duties of Insolvent Corporation Directors in Derivative Action
- Parties to Whom Directors Owe Duties Depend on Solvency
- Punitive Damages of Officers Upheld, but Vacated as to Directors, in Mismanagement Case
- Equitable Conversion Enables Lender’s Security Interest to Relate Back, Giving Lender Priority over IRS Lien
- Delaware Joins the 7th and 9th Circuits in Protecting Trademark License Owners from Non-consensual Bankruptcy Assumptions and Assignments
- Fraudulent Transfers May Not Be Avoided Where No Benefit to the Estate
- Court Rejects ‘Business Justification’ for Claim Classifications, Creditor Cannot Be Forced to Make Section 1111(b) Election
- Applying Till, Court Requires Evidence to Increase Interest Rate Above Prime
- Equitable Marshalling Does Not Require Secured Lender to Foreclose or Reduce the Value of its Claim
- Typo in Security Agreement Cannot Be Repaired Using Parol Evidence after Bankruptcy Filing
- Bankruptcy Court Refuses to Allow Debtor and Committee to Re-negotiate Carve-out from Section 363 Sale Proceeds
- Dutch Company, New York Law – An English Scheme of Arrangement?
- Bankruptcy Court Rejects Creditor Argument that Plan Not Feasible, Refuses to Vacate Order Confirming Chapter 11 Plan
- Counsel’s Corner: News from Reed Smith
Download the .PDF below to learn more.