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MF Global U.S. bankruptcy first day hearing leaves questions unanswered

The first day hearings in the Chapter 11 cases of MF Global Holdings Ltd and MF Global Finance USA Inc (together the "Debtors") were held on 1 November 2011 before Judge Martin Glenn in the U.S. Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court").

USA, New York, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Collateral (finance), Clearing house (finance), Market liquidity, Accounting, Broker-dealer, Credit rating, JPMorgan Chase, United States bankruptcy court
Delaware Bankruptcy Court finds appointment of examiner not required every time the statutory debt threshold is exceeded

In re Spansion, Inc, 426 BR 114 (Bankr Del April 1, 2010)

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USA, Delaware, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debtor, Unsecured debt, Fraud, Interest, Misconduct, Discovery, Debt, Vacated judgment, Misrepresentation, Title 11 of the US Code, United States bankruptcy court
Third Circuit rules that Philadelphia Newspapers' lenders cannot credit bid

A divided panel of the Third Circuit Court of Appeals affirmed the district court's ruling in In re: Philadelphia Newspapers, et. al. (3d. Cir., Case No. 09-4266) and held that secured creditors do not have a statutory right to credit bid their debt at a sale conducted under a plan of reorganization pursuant to which the debtor elects to provide the secured creditors with the "indubitable equivalent" of their secured claim.

USA, Insolvency & Restructuring, Litigation, Reed Smith LLP, Bankruptcy, Credit (finance), Debtor, Collateral (finance), Limited liability company, Debt, Secured creditor, Secured loan, Title 11 of the US Code, United States bankruptcy court, Third Circuit, US District Court for Eastern District of Pennsylvania