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District Court holds hedge funds not eligible assignees under loan agreement and thus not entitled to vote on plan

Overview

USA, Washington, Banking, Capital Markets, Insolvency & Restructuring, Litigation, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Hedge funds, Default (finance)
Seventh Circuit hears lenders’ shout “Give me credit, will ya!”

The Bottom Line:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Credit (finance), Secured loan, United States bankruptcy court, Seventh Circuit
Third Circuit’s withdrawal decision in Marcal Paper – nothing to sneeze at

The Bottom Line:

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Employee Retirement Income Security Act 1974 (USA), Debtor, Unsecured debt, Trade union, Consideration, Liability (financial accounting), Defined benefit pension plan, Title 11 of the US Code, United States bankruptcy court, Third Circuit, Sixth Circuit, Bankruptcy Appellate Panel