Is insurance just a business or does it serve a greater public good? If it weren’t for insurance, a fire or earthquake could leave you homeless; a visit to the emergency room could wipe out your bank account; a workplace accident could leave you salary-less. But, on the other hand, picture that wily Geico lizard, and insurance seems more like any other business trying to make a buck.
We know you’ve been spending a lot of time trying to figure out how to translate “Absolute Priority Rule,” “Equitable Mootness,” and “Make-Wholes” (not to mention “Cramdown”) into Halloween costumes, so you may have missed out on some of the entries the Weil Bankruptcy Blog has posted over the past six weeks. For our treats to you, we are handing out these entries in convenient (Count Dracula) bite-sized servings. You can indulge a little today, and we will have more for you next week.
“Aside from their inconsistency with empirical data, proposals to “reform” the Bankruptcy Code must overcome a more basic reality: The current Code works exceedingly well.”
– LSTA Response
In resolving a motion for leave to file an amended complaint to add new claims, the United States Bankruptcy Court for the Southern District of New York in Hosking v.
We have previously discussed default-rate interest and late fees in connection with a secured creditor’s claim. Can a secured creditor choose to waive one in favor of the other if both are not available? And when is a secured creditor entitled to default-rate interest in the first place
“[T]hey would sell their possessions and goods and distribute the proceeds to all…” Acts 2:45
Introduction
Earlier this month, the English Insolvency and Companies Court (the “ICC”) made a limited civil restraint order against a shareholder who had repeatedly sought, unmeritoriously, to challenge the 2017 restructuring of Paragon Offshore plc (in liquidation) (“Paragon”) (Hammersley v Soden & Ors [2022] EWHC 223 (Ch)).
With data privacy issues constantly in the news, what do businesses need to know about handling personal information when they’re considering bankruptcy, especially if some personal information – like customer records – may be a valuable asset?
The holidays came early for the United States Trustee (the “U.S. Trustee”) on November, 3, 2020, when a three-judge panel of the United States Circuit Court for the Fifth Circuit, on direct appeal, reversed the bankruptcy court and upheld the constitutionality of a 2017 increase to quarterly fees payable to the U.S. Trustee in Hobbs v. Buffets LLC (In re Buffets LLC), No. 19-50765, 2020 U.S. App. LEXIS 34866 (5th Cir. Nov. 3, 2020). Although the Fifth Circuit’s opinion addresses a variety of constitutional challenges to the recent increase to U.S.