In In reLehman Brothers Inc., two creditors recently made an unsuccessful attempt to infuse Section 510(b) of the Bankruptcy Code with ambiguity and avoid the subordination of their claims. In re Lehman Brothers, Inc., 2014 WL 288571 (Bankr. S.D.N.Y.
The Bankruptcy Court for the Southern District of New York recently held that a state’s post-confirmation investigation of a debtor’s post-confirmation conduct does not violate a plan confirmation order that enjoins actions against the debtor. In re Velo Holdings, Inc. et al., 500 B.R. 693 (Bankr. S.D.N.Y. 2013).
The U.S. Bankruptcy Court for the Southern District of New York recently held that an ad hoc committee of bondholders, holding $162.5 in senior secured bonds, lacked standing to participate in the issuer-debtor’s Chapter 11 bankruptcy case. In re American Roads LLC, 2013 WL 4601006 (Bankr. S.D.N.Y.
In In re East End Development, LLC, 2013 WL 1820182 (Bankr. E.D.N.Y. Apr.
On Friday, the California Department of Financial Institutions closed Sonoma Valley Bank, headquartered in Sonoma, California, and appointed the FDIC as receiver.
On Friday, the Office of the Comptroller of the Currency closed Community National Bank at Bartow [http://www.occ.treas.gov/ftp/release/2010-101.htm], headquartered in Bartow, Florida, and Independent National Bank, headquartered in Ocala, Florida, and appointed the FDIC as receiver.
On Friday, the California Department of Financial Institutions closedButte Community Bank, headquartered in Chico, California, and Pacific State Bank, headquartered in Stockton, California, and appointed the FDIC as receiver for the two banks.
On Friday, the Office of Thrift Supervision closed Imperial Savings and Loan Association, headquartered in Martinsville, Virginia, and appointed the FDIC as receiver.
Friday, the Illinois Department of Financial and Professional Regulation, Division of Banking closed Lincoln Park Savings Bank, headquartered in Chicago, Illinois, and the FDIC was appointed receiver.
Friday, the Illinois Department of Financial and Professional Regulation, Division of Banking closed Wheatland Bank, headquartered in Naperville, Illinois, and the FDIC was appointed receiver.