Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

Post-script – recent Enron “settlement payment” decision has first beneficiary

2011-08-03

The Bottom Line:

Filed under:

USA, New York, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Unsecured debt, Security (finance), Default (finance), Subsidiary, Enron, Second Circuit, United States bankruptcy court, US District Court for the Southern District of New York

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Second Circuit in AMR Corp. – “no make-whole” based on plain meaning of indentures and discusses consequences of section 1110 payments

2013-10-11

The Bottom Line:

Filed under:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bond (finance), Default (finance), Title 11 of the US Code, Second Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Stay here – Second Circuit in Residential Capital holds automatic stay can be applied to non-debtors where action has an immediate adverse economic consequence for estate

2013-08-21

The Bottom Line:

Filed under:

USA, Insolvency & Restructuring, Litigation, Real Estate, Kramer Levin Naftalis & Frankel LLP, Debtor, Mortgage-backed security, Federal Housing Finance Agency, Second Circuit, Fourth Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Tarnishing the debtor’s Halo – police power exemption applied to private actions

2012-06-26

The Bottom Line:

Filed under:

USA, Insolvency & Restructuring, Litigation, Telecoms, Kramer Levin Naftalis & Frankel LLP, Fifth Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Giving credit when due -- Supreme Court denied confirmation of Chapter 11 plan that precludes credit bidding

2012-06-01

The Bottom Line:

In a unanimous decision (with Justice Kennedy not participating), the Supreme Court issued a decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 2012 WL 1912197 (U.S. May 29, 2012), (“RadLAX”) in which it held that section 1129(b)(2)(A) of the Bankruptcy Code does not permit a debtor to “cram down” a plan of reorganization that provides for the sale of encumbered assets free and clear of liens at auction without permitting the lienholder to credit bid at such auction.

Filed under:

USA, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, Secured creditor, Title 11 of the US Code, Seventh Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Seventh Circuit takes the long view in defining insider status for preference actions

2011-09-22

The Bottom Line:

Filed under:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Limited liability company, US Code, United States bankruptcy court, Seventh Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Now that’s settled – Second Circuit in Enron exempts redemption of commercial paper

2011-07-11

The Bottom Line:

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Giving credit when due -- Supreme Court denied confirmation of Chapter 11 plan that precludes credit bidding

2012-06-01

The Bottom Line:

In a unanimous decision (with Justice Kennedy not participating), the Supreme Court issued a decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 2012 WL 1912197 (U.S. May 29, 2012), (“RadLAX”) in which it held that section 1129(b)(2)(A) of the Bankruptcy Code does not permit a debtor to “cram down” a plan of reorganization that provides for the sale of encumbered assets free and clear of liens at auction without permitting the lienholder to credit bid at such auction.

Filed under:

USA, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Debtor, Secured creditor, Title 11 of the US Code, Seventh Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Seventh Circuit takes the long view in defining insider status for preference actions

2011-09-22

The Bottom Line:

Filed under:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Limited liability company, US Code, United States bankruptcy court, Seventh Circuit

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP

Post-script – recent Enron “settlement payment” decision has first beneficiary

2011-08-03

The Bottom Line:

Filed under:

USA, New York, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Unsecured debt, Security (finance), Default (finance), Subsidiary, Enron, Second Circuit, United States bankruptcy court, US District Court for SDNY

Authors:

Benjamin C. Wolf

Location:

Firm:

Kramer Levin Naftalis & Frankel LLP