Bankruptcy Archives - Page 8 of 12

Chapter 7 Trustee Elections… A Bankruptcy Tool for Greater Creditor Accountability

Making the Chapter 7 trustee accountable to unsecured creditors will instill more confidence in the post-bankruptcy process where unsecured creditors are often left with the perception that bankruptcy courts operate solely for the benefit of professionals. Jeffrey Wurst and Michael Amato, both of Ruskin Moscou Faltischek, say that by making the trustee more accountable, the process will also move at a quicker pace.

October 28, 2013 Chapter 7 trustees ABF Journal

New Chapter 11 Fee Guidelines… Will They Really Help to Contain Attorney’s Fees?

Recently the Office of the U.S. Trustee issued new guidelines for the payment of attorneys’ fees and expenses in Chapter 11 cases with $50 million or more in assets and $50 million or more in liabilities. According to K&L Gates’ Trey Monsour, compliance will be subjective and likely expensive for attorneys in large Chapter 11 cases, with the debtor ultimately bearing the additional costs.

September 18, 2013 Attorney’s Fees | Chapter 11 Fees ABF Journal

Make-Whole Claims in Bankruptcy… Still Flying High & Earning Passing Grades

Inclusion of make-whole claims in a bankruptcy is often a controversial issue between the debtor and creditors. However, as Renée Dailey and Katherine Lindsay point out, despite recent challenges in American Airlines and School Specialty, make-whole claims in bankruptcy are still flying high and earning passing grades.

August 26, 2013 Make-Whole Bankruptcy Claims ABF Journal

Loan Can Be Re-Characterized as Equity for Fraudulent Conveyance Purposes

The Court of Appeals for the Ninth Circuit has joined other circuits in holding that the bankruptcy court has the authority to re-characterize a debt obligation as equity in the context of a fraudulent transfer avoidance action under the Bankruptcy Code. For third-party, non-insider creditors, the Fitness Holdings decision is a helpful tool to restore assets to the debtor’s estate that were transferred to the holder of an equity interest in the guise of a debt repayment.

July 24, 2013 Ninth Circuit ABF Journal

Bulat Utemuratov: Tennis in Kazakhstan is for all

When Bulat Utemuratov joined the Kazakhstan Tennis Federation, this organization was in stagnation. Tennis players did not show impressive results and officials did not know how to improve the current situation.

June 6, 2013 Shannon Browne

Option Contracts in Bankruptcy — Flexibility with Risk

Sophisticated market participants are increasingly using option contracts to provide flexibility to traditional borrowing or purchase and sale agreements. However, as Lowenstein Sandler’s S. Jason Teele and Tania Ingman point out, there are a number of interesting complications to this type of transaction when one party is distressed.

May 21, 2013 executory contract | MDG Shannon Browne

Regulatory Reform: Regime Changes Looming… What It Means to Secured Lenders

The financial crisis resulted in impending loan-related regulatory reform. Meredith Coffey of the Loan Syndications and Trading Association discusses which measures are looming and describes several significant changes that will become realities for secured lenders in the short-term.

May 21, 2013 Commission Shannon Browne

While Hostess Crumbles, Twinkies Will Survive

Although the demise of Hostess has been well publicized, veteran turnaround advisor Ted Gavin examines the chain of events that led up to what he says could be labeled “the most mutually destructive collective bargaining agreement negotiation in crème-filled history.”

March 11, 2013 BCT | Hostess Twinkies ABF Journal

Is Chapter 11 Still a Viable Option?

Companies emerging from Chapter 11 as reorganized debtors as we used to know them have become rare. Attorney Jeffrey Wurst explains that middle-market companies generally cannot afford or withstand the high cost of a Chapter 11 in today’s environment and notes that alternatives will become even more popular.

March 11, 2013 unsecured creditors ABF Journal

Hostess Case — Bankruptcy Court Refuses to Send Cash Collateral Dispute to Arbitration

U.S. Bankruptcy Court Judge Robert Drain’s decision in the Hostess case demonstrates that even if a dispute between a debtor and a third party is arguably subject to a pre-petition arbitration clause, that dispute may not be subject to arbitration if it is considered a “substantially” core aspect of the bankruptcy process.

March 11, 2013 cash collateral | Southern District of New York ABF Journal

Category: Bankruptcy