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California Court Upholds Expansive Definition of Recoupment

The Bottom Line

USA, California, Healthcare & Life Sciences, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Medicaid, Ninth Circuit, US District Court for Central District of California
Supreme Court To Hear Dispute Over Debt Recharacterization

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Supreme Court of the United States, Fourth Circuit
True Sale (finally) Approved

In a recent judgment the Irish High Court for the first time confirmed as “good law” in Ireland the approach taken by the English courts to the circumstances in which a transaction, documented as a sale of receivables, may be re-characterised as a secured loan. Invoice discounting, factoring and similar receivables financing products are important sources of working capital finance for SMEs and are increasingly a funding tool offered by alternative lenders.

Ireland, United Kingdom, England, Banking, Insolvency & Restructuring, Litigation, McCann FitzGerald LLP, Liquidation, Secured loan
Refusing to Fund Into a Bankruptcy: Lessons From Lyondell for Lenders

In the May 2017 issue of Debt Dialogue, we discussed the recent decision by Judge Martin Glenn of the U.S.

USA, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP
Ruling and the Material Adverse Event Default

In February 2017, Judge Katherine Polk Faila of the Southern District of New York issued a bench ruling1 in Cumulus Media Holdings Inc. v. JPMorgan Chase Bank, N.A. (S.D.N.Y. Feb. 24, 2017), in which she found that a proposed exchange of senior notes for revolver commitments would violate certain covenants of the issuer’s credit agreement protecting the term loan lenders.

USA, New York, Banking, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, JPMorgan Chase, US District Court for the Southern District of New York
Deepening the Divide on Whether Avoidance Provisions Apply to Foreign Transfers

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Fourth Circuit, US District Court for the Southern District of New York
IRS Can Pursue “Responsible Persons” for Unpaid Trust Fund Taxes and Automatic Stay Cannot Be Used to Enjoin Collection Against Non-Debtor Officers and Directors

The Bottom Line

Puerto Rico, USA, Insolvency & Restructuring, Litigation, Private Client & Offshore Services, Kramer Levin Naftalis & Frankel LLP, Internal Revenue Service (USA), Eighth Circuit, Third Circuit, First Circuit
Jurisdiction Retention Clause in Sale Order Can’t Provide Bankruptcy Court Subject Matter Jurisdiction for Contract Disputes between Non-Debtors

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, First Circuit
Ninth Circuit Applies Replacement Value in Cramdown Even If Lower Than Liquidation Value

The Bottom Line

USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, US HUD, Ninth Circuit
Funds Talk: June 2017

Funds Talk: June 2017

 

Topics covered in this issue include:

USA, New York, Capital Markets, Derivatives, Employment & Labor, Insolvency & Restructuring, IT & Data Protection, Litigation, Securitization & Structured Finance, Tax, Kramer Levin Naftalis & Frankel LLP, Computer security, FINRA, Seventh Circuit