The Bankrupcty Code was designed to enable honest debtors to reorganize and get a fresh start. But the growing number of claims traders purchasing these debts from lenders is warping the process, contends Kenneth A. Rosen, a nationally recognized bankruptcy expert.
A customer’s balance sheet can appear straightforward, but there are hidden triggers that can cause unexpected problems during chapter 11 proceedings. Kenneth Rosen, who leads the bankruptcy department at Lowenstein Sandler, reveals these unexpected traps.
Attorneys Jeffrey Wurst and Jonathan Bodner discuss how lenders can identify and avoid lending into problem situations that involve hidden liens. The authors note that these liens come in many varieties, including tax, agricultural, materialmen and construction related.
Attorney Kenneth D. Peters examines the current trend of limiting the credit bidding rights of secured creditors. To protect lien interests, he encourages properly perfecting assets on the front end of deals, and being aware of the unfair uncertainty of lender lien rights on the back end in bankruptcy.
ABF Journal illustrator Jerry Gonzalez shares his take on a suit filed by the Boston Retirement System which accused 22 banks, including Bank of America, Merrill Lynch, Citigroup and Goldman Sachs Group of manipulating the market for U.S. Treasury securities.
Attorney Samuel Maizel examines important aspects of lending against Medicare receivables, specifically
setoff and recoupment rights, as well as the length of time it can take for Medicare to make payments and
conduct audits.
Lesley Anne Hawes examines the Uniform Voidable Transactions Act — the proposed new name for the Uniform Fraudulent Transfer Act — and outlines the Uniform Law Commission’s proposed amendments as well as implications posed for creditors.
ABF Journal illustrator Jerry Gonzalez provides his take on The Second Circuit Court of Appeals denying JP Morgan Chase’s petition for a hearing en banc regarding a prior decision on the mistaken termination of UCC financing statements securing its $1.5 billion loan to General Motors, resulting in a major victory for GM’s unsecured creditors.
Recent court rulings should put secured lenders on alert to ensure the security interests they bargain for are enforceable. ABF Journal recently highlighted a notorious case involving JPMorgan Chase’s mistaken release of its UCC financing statements and resulting failure to secure its $1.5 billion loan to General Motors. Rick Antonoff, a partner with Blank Rome, goes beyond JPMC to discuss other surprising rulings.
Baker Donelson attorneys M. Ruthie Hagan and Zachary B. Busey dissect the tumultuous In re CTLI, LLC bankruptcy case involving and including a debtor, a derivative action, Chapter 11, an order to surrender social media account passwords, the U.S. Marshals Service and even jail time. The resulting ruling will be frequently cited in future social media cases.