Under the Bankruptcy Code, a reorganization plan may be approved if (1) proposed in “good faith” under § 1129(a)(3), and (2) accepted by at least one class of creditors whose interests are impaired by the plan, see 11 U.S.C. § 1129(a)(10). In Village Green I, GP v. Fed.
When can a bank be at risk of unknowingly receiving a fraudulent transfer? How much information does a bank need to have before it is on “inquiry notice”? A recent decision from the Seventh Circuit Court of Appeals highlights the risks that a bank takes when it ignores red flags and fails to investigate. This decision should be required reading for all lenders since, in the matter before the Seventh Circuit, the banks’ failure to investigate their borrower’s questionable activity caused the banks to lose their security and have their secured loans reduced to unsecured claims.
Last June, the Supreme Court issued a ruling in Baker Botts LLP v.
Did Trump win again? Yes, but this time it was not “The Donald” but was instead the casino operator Trump Entertainment Resorts, Inc.
Since the third quarter of 2014, the appetite for lending to small and midsized exploration and production companies (E&P Companies) has decreased substantially for several reasons. The most significant reason is the drop in oil prices to the WTI Spot close at Cushing, Oklahoma in the $35 per barrel range at the end of 2015.
We all know that courts want to read contracts as a whole to effectuate the intent of the parties. This case provides a textbook illustration of the principle.
When is there sufficient evidence to hold that a fiduciary’s debt to an ERISA benefit plan is non-dischargeable in bankruptcy? The Bankruptcy Court for the Eastern District of New York recently held in In re Kern, Case No. 13-08096 (Dec.
Did Trump win again? Yes, but this time it was not “The Donald” but was instead the casino-operator Trump Entertainment Resorts, Inc. (“Trump Entertainment”).
When can a bank be at risk of unknowingly receiving a fraudulent transfer? How much information does a bank need to have before it is on “inquiry notice”? A recent decision from the Seventh Circuit Court of Appeals highlights the risks that a bank takes when it ignores red flags and fails to investigate.
In re Sentinel Management Group – The Decision
Two days before Christmas, the Seventh Circuit Court of Appeals issued a ruling that is likely to have a dramatic impact in the highly-contested Caesars Entertainment bankruptcy case. The decision may also give a green light to other debtors seeking to enjoin lawsuits brought against non-debtor affiliates.