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Commercial Restructuring & Bankruptcy Alert

May 2016, No. 2

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Note from Peter S. Clark, II (CR&B Practice Group Leader):

Welcome to the May 2016 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:

  • Can a Bank-Appointed Director Block a Bankruptcy Filing by a Borrower?
  • Decision in Sabine Oil & Gas Bankruptcy Case Will Have Broad Impact on Midstream and Exploration & Production Companies in the Oil & Gas Industry
  • Trustee Recovers Property Maintenance Expenses from Secured Creditor under
    Section 506(c)
  • De Minimis Activity of Foreign Representative Insufficient for Recognition under
    Chapter 15
  • SEC Asset Freeze Order Does Not Fall Within ‘The Exception to the Exception’ to the Automatic Stay
  • Ninth Circuit Joins Other Circuits to Hold Absolute Priority Rule Applies to Individual Chapter 11 Cases
  • Landlord’s Corner – Pre-petition Termination of Lease Can Be ‘Transfer’ for Preference Purposes
  • Post-Petition Eviction Does Not Violate Automatic Stay Where Lender Obtained Pre-Petition Unlawful Detainer Judgment
  • Inquiry Notice of Wrongdoing Bars Lenders’ Good Faith Defense in Fraudulent Transfer Claim
  • Chapter 11 Debtor May Reject and Modify Collective Bargaining Agreement Post-Expiration
  • Appellate Court Rules That Even a First-Time or Single Transfer May Fall Within the Ordinary Course of Business Exception
  • Personal Guaranties of a Loan Not Impacted by a Borrower’s Chapter 11 Case
  • Oversecured Creditor’s 506(b) Motion for Attorneys’ Fees Scrutinized, Fee Request Slashed
  • Electricity Is a ‘Good’ Under UCC in Administrative Claim Action
  • Creditor Cannot Use Involuntary Chapter 7 Case to Enforce a Judgment
  • Bankruptcy Court Declines to Appoint Interim Trustee During Gap Period
  • Factored Accounts Receivable Not Part of Debtor’s Estate, May Not Be Used as Cash Collateral
  • Non-Objecting Creditor Not Deemed to Accept Proposed Plan Under Section 1129(a)(10)
  • Post-Petition Condo Association Assessment Not Dischargeable in Chapter 13 Case
  • Chapter 7 Debtor’s Pre-Petition Viatical Settlements Are Recoverable as Fraudulent Transfers
  • Licensee’s Section 365(n) Election Does Not Preserve Distribution and Trademark Rights Under Rejected Agreement
  • Appellate Court Rules That Res Judicata and Judicial Estoppel Did Not Bar Use of Two Different Valuations
  • Counsel’s Corner: News From Reed Smith

Download the .PDF below to learn more.