Skip to main content
Enter a keyword
  • Login
  • Home

    Main navigation

    Menu
    • US Law
      • Chapter 15 Cases
    • Regions
      • Africa
      • Asia Pacific
      • Europe
      • North Africa/Middle East
      • North America
      • South America
    • Headlines
    • Education Resources
      • ABI Committee Articles
      • ABI Journal Articles
      • Covid 19
      • Conferences and Webinars
      • Newsletters
      • Publications
    • Events
    • Firm Articles
    • About Us
      • ABI International Board Committee
      • ABI International Member Committee Leadership
    • Join
    Risk losing your first priority lien if you provide superfluous information in the UCC financing statement
    2010-09-13

    In re EDM Corporation, 2010 WL 1929772 (8th Cir BAP May 14, 2010)

    CASE SNAPSHOT

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Reed Smith LLP, Debtor, Collateral (finance), Safe harbor (law), Uniform Commercial Code (USA), Bankruptcy Appellate Panel
    Authors:
    Cory Falgowski
    Location:
    USA
    Firm:
    Reed Smith LLP
    Court invokes prudent man standard to uphold collateral trustee’s litigation reserve fund
    2010-09-20

    After nearly fifteen years of unsuccessful attempts to recover $71 million worth of securitized bonds after the 1990 bankruptcy of Continental Airlines, Inc., Bluebird Partners L.P. may have suffered its final defeat. In a recent decision by a New York trial court in Bluebird Partners v. The Bank of New York, et al., No. 601016/1996 (New York Co. June 7, 2010), the court granted summary judgment to defendant Bank of New York (“BNY”), holding that the bank behaved prudently in establishing a litigation reserve fund as the collateral trustee in the airline’s bankruptcy.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Litigation, Chadbourne & Parke LLP, Bond (finance), Bankruptcy, Collateral (finance), Breach of contract, Fiduciary, Interest, Secured loan, Bank of New York Mellon, Trustee
    Authors:
    Thomas J. Hall , Laura Rowntree
    Location:
    USA
    Firm:
    Chadbourne & Parke LLP
    Court grants leave to appeal in Lehman Dante case
    2010-10-07

    On September 20th, the United States District Court for the Southern District of New York granted BNY Corporate Trustee Services Limited ("BNY") leave to appeal the bankruptcy court's decision in the Lehman "Dante" matter. In its January decision, the bankruptcy court had voided certain document provisions providing for the subordination of a swap counterparty's rights to an early termination payment when the swap counterparty or one of its close affiliates went into bankruptcy.‪ BNY holds the collateral subject to this dispute.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Orrick, Herrington & Sutcliffe LLP, Bankruptcy, Collateral (finance), Swap (finance), Lehman Brothers, United States bankruptcy court
    Authors:
    Nikiforos Mathews , Jim Croke , William S. Haft , Peter C. Manbeck , Al B. Sawyers
    Location:
    USA
    Firm:
    Orrick, Herrington & Sutcliffe LLP
    FDIC board issues proposed rule on Dodd-Frank resolution authority
    2010-10-12

    The Board of Directors of the Federal Deposit Insurance Corporation, or FDIC, voted on Friday, October 8, 2010, to approve a proposed rule clarifying how the agency would treat certain creditor claims under the new orderly liquidation authority established under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

    Filed under:
    USA, Banking, Insolvency & Restructuring, Stinson LLP, Consumer protection, Unsecured debt, Collateral (finance), Board of directors, Market liquidity, Debt, Liquidation, Subordinated debt, Federal Deposit Insurance Corporation (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA), Title 11 of the US Code, Federal Deposit Insurance Act 1950 (USA)
    Authors:
    Stephen M. Quinlivan
    Location:
    USA
    Firm:
    Stinson LLP
    Trading swap termination claims memorandum
    2010-10-08

    In the wake of the recent financial crisis, the legal system continues to sort out rights and obligations of financial market participants. This is especially true for participants in the over-the-counter derivatives markets.

    The tremendous growth of that largely unregulated market has been accompanied by the development of sophisticated contractual frameworks and specific bankruptcy legislation expressly intended to reduce uncertainty around the amount and type of claims that could ultimately be asserted by market participants following bankruptcy of a derivative counterparty.

    Filed under:
    USA, Derivatives, Insolvency & Restructuring, Richards Kibbe & Orbe LLP, Bankruptcy, Clearing (finance), Unsecured debt, Collateral (finance), Swap (finance), Futures contract, Credit risk, Liability (financial accounting), Default (finance), International Swaps and Derivatives Association, Lehman Brothers, Enron
    Authors:
    Jon Kibbe , Julia Lu
    Location:
    USA
    Firm:
    Richards Kibbe & Orbe LLP
    Second Circuit stays DBSD North America plan
    2010-10-07

    The chapter 11 case of DBSD North America, Inc. (“DBSD”), f/k/a ICO North America, has been marked by aggressive tactics and extreme positions from its commencement. DBSD, a non-operating satellite communications company, and its second lien noteholders made clear their intent to cram down a plan of reorganization (the “Plan”) on DBSD’s first lien lenders.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Kelley Drye & Warren LLP, Bankruptcy, Debtor, Collateral (finance), Security (finance), Interest, Market liquidity, Debt, Maturity (finance), Good faith, Secured creditor, Secured loan, Second Circuit
    Authors:
    Benjamin D. Feder
    Location:
    USA
    Firm:
    Kelley Drye & Warren LLP
    FDIC proposes new resolution authority rules
    2010-10-18

    On October 12th, the FDIC published for comment proposed rules on how the agency would treat certain creditor claims under the new orderly liquidation authority established under the Dodd-Frank Act. The proposed rules bar any additional payments to holders of long-term senior debt, subordinated debt or equity interests that would result in those creditors recovering more than other creditors entitled to the same priority of payments under the law.

    Filed under:
    USA, Insolvency & Restructuring, Winston & Strawn LLP, Unsecured debt, Collateral (finance), Liquidation, Subordinated debt, US Federal Government, Federal Deposit Insurance Corporation (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)
    Location:
    USA
    Firm:
    Winston & Strawn LLP
    District court grants bny leave to appeal bankruptcy court’s interlocutory order in Lehman, prohibiting enforcement of ipso facto clause in swap
    2010-10-13

    On September 21, 2010, the United States District Court for the Southern District of New York granted BNY Corporate Trustee Services Limited leave to appeal a decision of the Bankruptcy Court in the Lehman Brothers bankruptcy case.1 The Bankruptcy Court held that a key provision of certain transaction documents constituted an unenforceable ipso facto clause. The District Court granted leave to appeal the Bankruptcy Court decision even though it was interlocutory.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Cadwalader Wickersham & Taft LLP, Bankruptcy, Collateral (finance), Swap (finance), Lehman Brothers cases, Lehman Brothers, Court of Appeal of England & Wales, United States bankruptcy court
    Authors:
    Mark C. Ellenberg
    Location:
    USA
    Firm:
    Cadwalader Wickersham & Taft LLP
    FDIC proposes orderly liquidation rules
    2010-10-13

    Earlier today, the FDIC announced that the FDIC Board of Directors voted on Friday, October 8, 2010 to approve the issuance of a notice of proposed rulemaking (NPR) regarding the treatment of certain creditor claims under the FDIC’s new orderly liquidation authority established under Title II of the

    Filed under:
    USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bond market, Letter of credit, Unsecured debt, Collateral (finance), Board of directors, Market liquidity, Liquidation, Holding company, Subsidiary, Subordinated debt, US Federal Government, Federal Deposit Insurance Corporation (USA), Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 (USA)
    Authors:
    Sean Doherty
    Location:
    USA
    Firm:
    Alston & Bird LLP
    UCC search logic: can secured creditors be too careful?
    2010-10-22

    Last year (October 23, 2009) we posted on the topic of UCC search logic in light of the bankruptcy case of In re EDM Corporation 2009 Westlaw 367773 (Bankr.D.Neb.).

    Filed under:
    USA, Nebraska, Insolvency & Restructuring, Litigation, Porter Wright Morris & Arthur LLP, Bankruptcy, Debtor, Collateral (finance), Secured creditor, Westlaw, Uniform Commercial Code (USA), Eighth Circuit, United States bankruptcy court, Bankruptcy Appellate Panel
    Location:
    USA
    Firm:
    Porter Wright Morris & Arthur LLP

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 17
    • Page 18
    • Page 19
    • Page 20
    • Current page 21
    • Page 22
    • Page 23
    • Page 24
    • Page 25
    • …
    • Next page ››
    • Last page Last »
    Home

    Quick Links

    • US Law
    • Headlines
    • Firm Articles
    • Board Committee
    • Member Committee
    • Join
    • Contact Us

    Resources

    • ABI Committee Articles
    • ABI Journal Articles
    • Conferences & Webinars
    • Covid-19
    • Newsletters
    • Publications

    Regions

    • Africa
    • Asia Pacific
    • Europe
    • North Africa/Middle East
    • North America
    • South America

    © 2025 Global Insolvency, All Rights Reserved

    Joining the American Bankruptcy Institute as an international member will provide you with the following benefits at a discounted price:

    • Full access to the Global Insolvency website, containing the latest worldwide insolvency news, a variety of useful information on US Bankruptcy law including Chapter 15, thousands of articles from leading experts and conference materials.
    • The resources of the diverse community of United States bankruptcy professionals who share common business and educational goals.
    • A central resource for networking, as well as insolvency research and education (articles, newsletters, publications, ABI Journal articles, and access to recorded conference presentation and webinars).

    Join now or Try us out for 30 days