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Getting paid: state of fee applications

Section 330 of the Bankruptcy Code provides a statutory framework for compensation of professionals who are paid from the bankruptcy estate. Compensation awarded under section 330 is afforded administrative expense status under section 503(b)(2) and given second priority in the distribution of an estate pursuant to section 507(a)(2) of the Bankruptcy Code.

USA, Insolvency & Restructuring, Litigation, Baker Botts LLP, Bankruptcy
Ruling interprets Bankruptcy Code provision to allow debtors to evade credit bid rights of secured creditors

On March 22, 2010, a three judge panel of the United States Court of Appeals for the Third Circuit issued a highly anticipated decision in the matter of In re Philadelphia Newspapers LLC, 2010 WL 1006647, (3rd Cir. Case No.

USA, Insolvency & Restructuring, Litigation, Nelson Mullins Riley & Scarborough LLP, Bankruptcy, Credit (finance), Debtor, Collateral (finance), Limited liability company, Secured creditor, Secured loan, Title 11 of the US Code, United States bankruptcy court, Fifth Circuit, Third Circuit
Officers and directors of troubled banks at risk of personal liability

In 2009, there were 140 failed banks. So far this year, 16 more banks have been seized by the FDIC. There are 702 banks currently on the FDIC's troubled banks list, and regulators and analysts predict that several hundred of those likely will fail over the next two years.

USA, Banking, Insolvency & Restructuring, Nelson Mullins Riley & Scarborough LLP, Shareholder, Fraud, Board of directors, Market liquidity, Mortgage loan, Summary offence, Holding company, Underwriting, Community bank, US Federal Government, Federal Deposit Insurance Corporation (USA)