Most lawyers are generally familiar with the concept of a floating lien under the Uniform Commercial Code. A secured creditor takes a lien in a collateral category that changes from time to time as items are added or subtracted. A common example is a working capital loan, in which financed inventory is produced and sold, then becoming an account, which is collected to provide the funds to produce new inventory. A secured creditor may perfect a lien in the changing mass of inventory and receivables, as each category exists from time to time.
Last June, the Supreme Court issued a ruling in Baker Botts LLP v.
The General Motors chapter 11 case continues to produce interesting decisions on a variety of bankruptcy issues. Most recently, the bankruptcy court issued an opinion on the liability of “New GM” for alleged ignition switch defects, many of which involve vehicles manufactured by “Old GM” prior to the bankruptcy filing.
When the Supreme Court issued its decision in Baker & Botts L.L.P. v. ASARCO LLC in June, it caused something of a flutter in the bankruptcy community. The decision held that a professional could not recover for the fees it incurred in defending against objections to its fee application.
Last month, the Supreme Court announced its decision in Baker Botts LLP v. Asarco LLC. As most readers will be aware, that case involved a dispute over whether debtor’s retained counsel could be compensated for the fees and expenses incurred in the defense of its bankruptcy fee application.
Last June, the Supreme Court issued a ruling in Baker Botts LLP v.
The General Motors chapter 11 case continues to produce interesting decisions on a variety of bankruptcy issues. Most recently, the bankruptcy court issued an opinion on the liability of “New GM” for alleged ignition switch defects, many of which involve vehicles manufactured by “Old GM” prior to the bankruptcy filing.
When the Supreme Court issued its decision in Baker & Botts L.L.P. v. ASARCO LLC in June, it caused something of a flutter in the bankruptcy community. The decision held that a professional could not recover for the fees it incurred in defending against objections to its fee application.
Last month, the Supreme Court announced its decision in Baker Botts LLP v. Asarco LLC. As most readers will be aware, that case involved a dispute over whether debtor’s retained counsel could be compensated for the fees and expenses incurred in the defense of its bankruptcy fee application.
People are generally familiar with the concept that a party’s right to appeal applies to those orders that are “final.” A “final” order is one that resolves or disposes of the disputes between the parties. While an interlocutory order may be appealable at the discretion of the appellate court, the aggrieved party has no absolute right to appeal an order that is not “final.”