Yesterday afternoon, the House delayed a vote on H.R. 1106, “Helping Families Save Their Homes Act of 2009” (the “Act”) after a little over an hour of debate, amidst unexpected opposition from some Democrats.
This week, Representative John Conyers introduced the “Helping Families Save Their Homes Act of 2009” (H.R. 1106) (the “Act”), which has been circulated in advance of a vote by the House of Representatives anticipated as early as today. Additional amendments have been offered to the bill, but it is unclear which, if any, will be incorporated into the final text. It is not expected that the Senate will consider its version of the bill until mid-March.
C.A. No. 3017-CC (Del. Ch. February 24, 2009)
On February 24, 2009, Chancellor Chandler issued a two-page order in Fisk Ventures, LLC v. Segal, et al. addressing several aspects of the Order and Decree of Judicial Dissolution of Genitrix, as to which the parties could not agree upon the form and content of the petitioner’s form of order. One of Chancellor Chandler’s conclusions merits additional attention.
The following is a list of some recent larger U.S. bankruptcy filings in various industries. To the extent you are a creditor to any of these debtors, or other entities which may have filed for bankruptcy protection, you as a creditor are entitled to certain protections under the Bankruptcy Code.
ALUMINIUM
Aleris International U.S. operations file under Chapter 11; DIP financing approved.
AUTOMOTIVE
Court approves Key Plastics’ joint plan; Michigan company emerges from Chapter 11.
Recent declines in the trading prices of many companies' debt securities has created opportunities for those companies to reacquire a portion or all of that debt at substantial discounts through open market repurchases, privately negotiated transactions and tender offers. In some cases, the opportunities for discounted repurchases come to companies directly from investors seeking to sell the debt back in order to meet their own cash needs or otherwise obtain liquidity for thinly-traded securities.
The Fourth Circuit’s reversal of the bankruptcy court’s narrow reading of swap agreement clarifies the nature of agreements entitled to broad protections under the Bankruptcy Code, but until the decision is fully implemented on remand, swap participants will bear increased risk in hedging transactions.
As required by the terms of the emergency assistance provided by Treasury last December, General Motors Corp.
The following is a list of some recent larger U.S. bankruptcy filings in various industries. To the extent you are a creditor to any of these debtors, or other entities which may have filed for bankruptcy protection, you as a creditor are entitled to certain protections under the Bankruptcy Code.
AUTOMOTIVE
Auto parts maker Contech U.S., LLC, subsidiaries file for Chapter 11 protection in Michigan.
Fluid Routing Solutions, Inc., subsidiaries file Chapter 11 in Delaware.
GROCERY STORES
In these uncertain times, boards of directors face many important decisions about a company’s present and future actions, including reduction or suspension of dividends, layoffs, asset sales, unsolicited takeover offers, liquidation and even insolvency proceedings. In making these decisions, directors should remember their overarching responsibility for continuing oversight and informed decision-making.
The following is a list of some recent larger U.S. bankruptcy filings in various industries. To the extent you are a creditor to any of these debtors, or other entities which may have filed for bankruptcy protection, you as a creditor are entitled to certain protections under the Bankruptcy Code.
AUTOMOTIVE
Saab files for reorganization in Sweden as General Motors Corp. ends support.
BROADCASTING
Young Broadcasting, affiliates restructure through Chapter 11; operations to continue.