Changes may be coming to the Bankruptcy Code’s safe harbor provisions.[1] In 2012 the American Bankruptcy Institute established a Commission to Study the Reform of Chapter 11 (the “ABI Commission”), composed of many well-respected restructuring practitioners, including two of the original drafters of the Bankruptcy Code, whose advice holds great weight in the restructuring community.
USA, Insolvency & Restructuring, Alston & Bird LLP, Security (finance), Safe harbor (law), Mortgage-backed security, Title 11 of the US Code
A federal district court has ruled that a distressed debt fund is not a “financial institution” for purposes of the assignment provisions of a loan agreement.
Background
USA, Banking, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Investment funds, Default (finance), Distressed securities, Bank of America, United States bankruptcy court