This is the fourth and final post in our series on Judge Sontchi’s postpetition interest decision in Energy Future Holdings, issued on October 30, 2015. Our first post in this series analyzed Judge Sontchi’s ruling that postpetition interest on an unsecured claim does not constitute a part of the unsecured claim itself. Our
This is the third post in our series on Judge Sontchi’s postpetition interest decision in Energy Futures Holdings, issued on October 30, 2015. Our first post in this series analyzed Judge Sontchi’s ruling that postpetition interest on an unsecured claim does not constitute a part of the unsecured claim itself.
The law governing postpetition interest in bankruptcy remains unsettled despite having been subjected to more than 100 years of debate in the federal courts. On October 30, 2015,
This is the fifth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog. We have concluded that a hypothetical U.S.-based bitcoin exchange likely would not constitute a stockbroker or a
This is the fourth post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog.
This is the third post in our Bitcoin Bankruptcy series on the Weil Bankruptcy Blog. In the spring of this year, the shutdown of Japanese bitcoin exchange Mt. Gox made us think about what might have happened if Mt.
Sale at an undervalue; time for presenting a petition; implied term avoids manifest injustice; complying with time limits; order for sale threshold; Wragge & Co's finance litigation experts bring you the latest on the cases and issues affecting the lending industry.
Sale at an undervalue
In Butterfield Bank (UK) Ltd v Philip and others, the bank sought summary judgment against four guarantors of a bank facility. It was alleged that the bank had sold a property at a £500,000 undervalue.
Notice of assignment
Notice of assignment can be given by either the assignee or assignor under the Consumer Credit Act 1974 (CCA).
This was the High Court's finding in Smith v 1st Credit (Finance) Ltd and another. Smith was notified by her credit card company that her credit card debt had been assigned to 1st Credit. 1st Credit wrote to Smith shortly afterwards confirming the assignment and advising how payment could be made. Smith failed to pay and was made bankrupt by 1st Credit which subsequently repossessed and sold Smith's property.
The court will unravel a transaction where it appears to have been entered into to place assets beyond the reach of creditors.
This was the case in Ambrose sub nom Garwood v Amborse & Ambrose, where the trustee in bankruptcy of Mr Ambrose applied for declaratory relief and an order for the possession and sale of Mr & Mrs Ambrose's property.