- The COVID-19 pandemic has shifted the underwriting analysis for suppliers and creditors from customer-specific financial review to global health and macroeconomic analyses that are outside of the comfort zone of most company credit managers.
- Credit managers have seen their customers in long-thriving industries (e.g., travel, hospitality, entertainment) face a sharp and sudden loss of revenue.
HIGHLIGHTS:
USA, Insolvency & Restructuring, Litigation, Holland & Knight LLP, Supreme Court of the United States
HIGHLIGHTS:
USA, Banking, Insolvency & Restructuring, Litigation, Holland & Knight LLP, Bankruptcy, Leveraged buyout, Supreme Court of the United States, United States bankruptcy court, Third Circuit
In a unanimous decision, on May 29, 2012, the Supreme Court of the United States upheld an important protection against “cramdown” afforded to lenders in Chapter 11 cases.RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 566 U.S. , No. 11-166 (May 29, 2012). In RadLAX, the Supreme Court held that a Chapter 11 debtor could not deprive a secured creditor of its right to credit bid for property to be sold under a plan of reorganization.
USA, Insolvency & Restructuring, Litigation, Holland & Knight LLP, Debtor, Interest, Secured creditor, United States bankruptcy court