In this Issue:

• A Slippery Sunnyslope
• District Court Declines to ‘Upset’ an Upset Tax Sale
• Chapter 11 Filed Solely for Litigation Purpose Was Filed in Bad Faith 
• Unsecured Creditors Committee Bringing Claims ‘on Behalf of Debtor’ Seeks Discovery of Debtor’s Privileged Document
• Sunshine Heifers clarifies the parameters of what a bankruptcy court can do and decide on remand, based on the mandate passed down from the appellate court 
• Bankruptcy Court Enjoins Lender from Suing Guarantors Who Ran the Debtor’s Operations 
• Bankruptcy Court Does Not Approve 363 Sale That Does Not Pay Secured Creditor in Full
• Security Interest Unperfected Where Debtor’s Name Was on Wrong Line of Financing Statement 
• 7th Circuit Allows Parallel Default Proceedings in Brazil and Indiana 
• Profit-Sharing Lease Provision Ruled Unenforceable Pursuant to Section 365(f)(1) 
• Contract definitions do have meaning 
• Third Circuit Analyzes Mechanics’ Liens and the Automatic Stay
• Betting the Farm: Bankruptcy Court Authorizes Use of Cash Collateral for Farmers 
• Third Circuit Rejects Oil Producers’ Claims of Automatically Perfected Liens
• Class Members Denied Standing to Intervene in Appellant’s Side-Settlement
• Third Circuit Adopts Probability Standard for Analyzing WARN Act Liability
• “It Pays to Follow the Plain Language of Documents (and it Doesn’t Pay to Ignore the Language)”
• When in Doubt, Abstain:  Bankruptcy Court Refrains from Ruling on Temporary Restraining Order
• Contract Provisions Waiving Mortgagor’s Right of Redemption Unenforceable Under New York Law
• Establishing an Informal Proof of Claim
• Counsel’s Corner: News from Reed Smith

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