Summary

At approximately 10:15 this morning, Judge Walrath of the Delaware Bankruptcy Court made an oral ruling confirming Washington Mutual's chapter 11 plan of reorganization.

Over the last three and one-half years, hundreds of attorneys and other professionals have worked thousands of hours in an effort to help WAMU obtain a measure of relief from its debts so that it could emerge from bankruptcy protection with the ability to continue to operate.  What has emerged from the process is a smaller, leaner company with a greatly reduced debt load.

Introduction

On February 10th, electricity operator LSP Energy LP ("LSP") filed chapter 11 petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware.  As stated in court filings, LSP owns and operates an electricity plant located in Batesville, Mississippi.  Aside from its gas-fired electric generation facility, LSP's assets consist primarily of 58 acres of land in which it operates its facility.  See Declaration of LSP's President in Support of First Day Motions (the "Declaration" or "Decl.").

Introduction

Introduction

When talking about mergers, acquisitions and maybe even liquidations, retirement plans can sometimes get lost in the shuffle.  Asset purchases that result in the liquidation of the seller company, or acquisitions of assets by buyers, can create problems over legacy retirement plans.  These "orphan" plans just don't disappear and they have to be dealt with properly.

When a tenant under a commercial lease defaults and the landlord wishes to exercise a right to terminate the lease and evict the tenant, the landlord must comply with the terms of the lease and the applicable law regarding termination and eviction.  This issue was addressed in a September 8, 2011, decision by the U.S.

In my recent blog posting, I discussed the factors that courts will consider before setting aside an elected condominium board of directors to impose a court-appointed administrator.

Below are some examples where the courts have intervened and appointed an administrator. They include situations where:

Summary

On December 1 2011 the Supreme Court of Canada granted leave to appeal the Ontario Court of Appeal's decision in Indalex Limited (Re) (2011 ONCA 265).(1)

Indalex Limited and its US parent sought protection from their creditors under the Companies' Creditors Arrangements Act and under Chapter 11 of the US Bankruptcy Code. The court authorised a loan under a debtor-in-possession credit agreement and gave the lenders a super-priority charge against Indalex's assets.