On Wednesday 29 April the Outer House of the Court of Session in Edinburgh issued an opinion sanctioning two schemes of arrangement proposed by Premier Oil Plc and Premier Oil UK Limited (together, Premier Oil) (the Schemes). The Court addressed multiple grounds of challenge and did so without hearing live evidence, despite disputes of fact between the parties.

In In re Fortin, 598 B.R. 689 (Bankr. D. Mass. 2019), the United States Bankruptcy Court for the District of Massachusetts considered whether a lender may enforce a mortgage despite the unenforceability of the underlying promissory note. The court held that a lender’s inability to collect on a note due to the expiration of the statute of limitation for enforcement of the note does not adversely affect enforcement of the mortgage so long as the debt remains unpaid.

In an apparent case of first impression in Massachusetts, the US Bankruptcy Court for the District of Massachusetts recently held that an allonge must be physically affixed to the original promissory note to be effective.