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Champion Enterprises: Bankruptcy Court (Mostly) Dismisses Complaint Against Prepetition Lenders Based On Alleged Inequitable Conduct

Secured lenders are certain to find In re Champion Enterprises, Inc. useful, both in its holdings and its analysis, when challenged by complaints centered on alleged inequitable conduct from creditors’ committees or Chapter 7 trustees. This case succinctly reaffirms the principle that the use of leverage in negotiations does amount to inequitable conduct.

April 2011

April 2011
Factoring & Specialty Finance
Vol. 9 No. 3

April 1, 2011 ABF Journal

March 2011

Array

March 1, 2011 ABF Journal

SJC Fund Manager Fills a Void While Keeping Everything in Perspective

Shakespeare once asked, “What’s in a name?” For Steve Czech, founder and portfolio manager of FrontPoint Partners’ SJC Direct Lending Fund, it means a great deal. The $1 billion-plus hedge fund provides privately negotiated senior loans to middle-market companies and is staffed by five experienced professionals. Moreover, it provides Czech with an opportunity to pursue a very important mission.

March 1, 2011 Morgan Stanley Rita Garwood

Secret Extensions — Preference Actions Avoiding the Statute of Limitations

While it is rare that one sees issues regarding the two-year statute of limitations for the commencement of preference actions, such issues can wreak havoc in larger, more complex chapter 11 reorganizations where a plan of reorganization has yet to be confirmed prior to the running of the two-year anniversary of the case.

March 1, 2011 statute of limitations Rita Garwood

Postcard From the Future: This Year, Factors to Flock to a ‘Capital’ Location

As has been their custom for the past 17 years, factors worldwide are scheduled to congregate in the early spring — this time descending up the nation’s capital on April 13-16 at the Omni Shoreham. With more than cherry blossoms in their minds, these professionals look forward to the educational and networking opportunities the International Factoring Association’s main event has to offer.

March 1, 2011 factoring companies | Federal Reserve | Federal Reserve System Rita Garwood

What Defines a Security Interest? Looking Outside the Comfortable Confines of Article 9

In Ken Weinberg’s estimation, Article 9 of the Uniform Commercial Code is an extremely thoughtful and thorough statute. But, he warns, it’s not the end all, be all of security interests, and it is therefore prudent to visit what is and what isn’t covered by Article 9’s broad scope.

March 1, 2011 security interest | security interests Rita Garwood

Beyond Bankruptcy … You’re Emerged … Now what?

The process of successfully guiding a company out of bankruptcy is not an easy task. It takes a strong team of players, a clever plan of action and a dogged commitment of stakeholders to make it happen. Once a company emerges, it does not mean it is out of the woods. Therefore, stakeholders should leverage the skills developed, plans constructed and relationships formed through the next phase of the cycle.

March 1, 2011 bankruptcy process Rita Garwood

Frankly Speaking … Bankruptcy Attorneys Can Help Persuade Clients to make Tough Decisions

Distressed companies and their general counsel often don’t realize what kind of help they really need. The more corporate leaders and their counsel understand the benefits of enlisting bankruptcy attorneys early in the process, the better chance that they will take essential and timely actions to get the company back on track. In the end, forcing a frank conversation about a company’s trouble, coupled with bringing in bankruptcy counsel, is the right thing to do.

March 1, 2011 bankruptcy attorney Rita Garwood

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