‘Substantive rights’ not assignable, intercreditor voting rights assignment nullified

In re SW Boston Hotel Venture, LLC, 460 B.R. 38 (Bankr. D. Mass. 2011)

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Filed under:
USA, Massachusetts, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Condominium, Secured creditor
Authors:
Christopher O. Rivas
Location:
USA
Firm:
Reed Smith LLP
Secured creditors need not file a proof of claim to lift the automatic stay to proceed with a foreclosure action

In the Matter of Richard Louis Alexander (7th Cir., 2011) U.S. App. LEXIS 17110, (August 16, 2011)

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Filed under:
USA, Insolvency & Restructuring, Litigation, Real Estate, Reed Smith LLP, Bankruptcy, Debtor, Foreclosure, Secured creditor, United States bankruptcy court, Seventh Circuit
Authors:
Christopher O. Rivas
Location:
USA
Firm:
Reed Smith LLP
Pre-petition liens on FCC license proceeds can attach to post-petition proceeds

Sprint Nextel Corporation v. U.S. Bank N.A. (In re TerreStar Networks, Inc.), Case No. 10-15446 (Bankr. S.D.N.Y., Aug. 19, 2011)

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Filed under:
USA, Insolvency & Restructuring, Litigation, Telecoms, Reed Smith LLP, Bankruptcy, Collateral (finance), Secured creditor, Unsecured creditor, Federal Communications Commission (USA), Sprint Corporation
Authors:
Christopher O. Rivas
Location:
USA
Firm:
Reed Smith LLP
Subrogation to ‘claims’ entitles subrogee to vote on behalf of itself and subrogor

Avondale Gateway Center Entitlement, LLC v. National Bank of Arizona, et al. (In re Avondale Gateway Center Entitlement, LLC), 2011 WL 1376997 (D. Ariz. Apr. 12, 2011)

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Filed under:
USA, Arizona, Banking, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Debtor, Limited liability company, Debt, Voting, Capital punishment, Title 11 of the US Code, Arizona Supreme Court
Authors:
Christopher O. Rivas
Location:
USA
Firm:
Reed Smith LLP
Shareholders permitted to retain ownership under ‘new value exception’ to ‘absolute priority rule’

In re Red Mountain Machinery Company, 448 B.R. 1 (Bankr. D. Ariz. 2011)

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Filed under:
USA, Arizona, Insolvency & Restructuring, Litigation, Reed Smith LLP, Shareholder, Debtor, Unsecured debt, Interest, Line of credit, Chief financial officer, United States bankruptcy court
Authors:
Christopher O. Rivas
Location:
USA
Firm:
Reed Smith LLP
Decisions in Sabine Oil & Gas and Quicksilver Resources Inc. Bankruptcy Cases Will Have Broad Impact on Midstream and Exploration & Production Companies in the Oil & Gas Industry

Executive Summary New York bankruptcy judge allows Sabine Oil & Gas to reject gathering agreements over the objections of midstream companies, finding that the covenants do not run with the land.

Filed under:
USA, New York, Energy & Natural Resources, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy
Authors:
Christopher O. Rivas , Paul B. Turner , Carol M. Burke
Location:
USA
Firm:
Reed Smith LLP