Tag Archives: bankruptcy issues
Resolving the Conflict: A Pragmatic Approach to the Appointment of Receivers as Provisional Liquidator
Did you know… that the court may, in special circumstances, exercise its discretion to appoint pre-existing receivers as a company’s provisional liquidators. Read More… Continue reading
Bankruptcy Court Reiterates that Assumption and Assignment of an Executory Contract is Protection from Preference Claims
In re Carolina Fluid Handling Intermediate Holding Corp.(Giuliano v. Almond Investment Co.), Case No. 09-10384 (CSS) (March 14, 2012) (J. Sontchi) Read More… Continue reading
New Jersey Supreme Court Holds That New Jersey Fair Foreclosure Act Requires Strict Compliance When Issuing Notice of Intent to Foreclose
On February 27, 2012, the New Jersey Supreme Court issued a landmark decision in the case of U.S. Bank N.A. v. Guillaume, No. 068176, 2012 N.J. LEXIS 162 (N.J. Feb. 27, 2012). The Guillaume decision resolved a split of authority at the appellate level Read More… Continue reading
District Court Reverses Bankruptcy Court’s Grant of Leave to File a Late Claim and Remands for Further Proceedings Regarding Whether Appellees Met the…
Hayes Lemmerz International v. Emmons (In re Hayes Lemmerz International, Inc.), Case No. 09-11655 (MFW), Civ. No. 11-143-SLR (April 9, 2012) (J. Robinson) Read More… Continue reading
Supreme Court Decides Hall v. United States
On May 14, 2012, the Supreme Court decided Hall v. United States, No. 10-875, holding that a federal income tax liability resulting from the postpetition sale of an individual debtor's farm during the pendency of a Chapter 12 bankruptcy is not "incurred Read More… Continue reading
Effect of Acceleration upon a Chapter 11 Filing on Enforceability of Make-Whole or Prepayment Premiums
Indentures often contain make-whole premiums payable upon early redemption of the debt, and term B loan agreements often include "soft call" protection in the form of prepayment premiums during the early life of the loan. If Read More… Continue reading
When Is A Defective Appointment Too Defective To Be Cured?
The Court has heard another case dealing with a defective appointment of administrators under paragraph 22 of Schedule B1 Insolvency Act 1986. Read More… Continue reading
District Court Denies Class Certification of Unlawful Foreclosure Claims
On April 30, 2012, the United States District Court for the District of Massachusetts denied class certification of Plaintiffs’ unlawful foreclosure claims, finding that Plaintiffs failed to satisfy Rule 23(a) requirements. Significantly Read More… Continue reading
CFPB Plans for Administration of FDCPA
On March 20, 2012, the Consumer Financial Protection Bureau (CFPB) released a report outlining its plans for the administration of the Fair Debt Collection Practices Act (FDCPA). In its report, the CFPB explains the agency’s intention to Read More… Continue reading
Judge Approves Use Of Insurance Policy Proceeds To Fund Partial Settlement Of Lehman Securities Class Action
The former directors and officers of Lehman recently negotiated a partial settlement of the securities class action for $90 million which will be funded using insurance policy proceeds. Lehman's D&O insurers made a motion in the U.S. Bankruptcy Read More… Continue reading
