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Second Circuit Rules Private Student Loans May Be Discharged in Bankruptcy

On July 15, the U.S. Court of Appeals for the Second Circuit ruled that private student loans are not explicitly exempt from a debtor’s Chapter 7 bankruptcy discharge.

USA, Insolvency & Restructuring, Litigation, Troutman Pepper
Second Liens Beware Delaware Bankruptcy Court Finds De Facto Claim Subordination Under Intercreditor Agreement

Executive Summary

On December 27, 2018, the United States Bankruptcy Court for the District of Delaware issued an opinion in In re La Paloma Generating Co., Case No. 16-12700 (Bankr. D. Del. Dec. 27, 2018) [Docket No. 1274], that should raise substantial concerns for junior secured creditors.

In particular, the La Paloma opinion determined that:

USA, Company & Commercial, Insolvency & Restructuring, Litigation, Weil Gotshal & Manges LLP, United States bankruptcy court