Global Insolvency | Daily News Headlines on Insolvency Developments across the Globe

Delaware Bankruptcy Court applies Section 1129(a)(10) on a per debtor basis in the tribune Chapter 11 cases

2011-11-15

On October 31, 2011, the Honorable Kevin J. Carey, Bankruptcy Judge of the United States Bankruptcy Court for the District of Delaware, issued an opinion denying confirmation of two competing proposed plans of reorganization in the chapter 11 cases of In re Tribune Company, et al.

Filed under:

USA, Delaware, Insolvency & Restructuring, Litigation, Fried Frank Harris Shriver & Jacobson LLP, Bankruptcy, Debtor, Unsecured debt, Limited liability company, Consideration, Liability (financial accounting), Voting, JPMorgan Chase, Enron, United States bankruptcy court, US District Court for District of Delaware

Authors:

Brad Eric Scheler , Jean E. Hanson , Gary L. Kaplan , Jennifer L. Rodburg , Shannon Lowry Nagle

Location:

USA

Firm:

Fried Frank Harris Shriver & Jacobson LLP

Seventh Circuit: outcast minority member of LLC is still an insider

2011-10-26

Introduction

Filed under:

USA, Insolvency & Restructuring, Litigation, Herrick Feinstein LLP, Bankruptcy, Debtor, Interest, Limited liability company, Capital punishment, Trustee, United States bankruptcy court, Third Circuit, Seventh Circuit

Authors:

Paul Rubin

Location:

USA

Firm:

Herrick Feinstein LLP

Washington LLC member files bankruptcy - court reinstates his membership rights

2011-10-27

Charles McSwain, a 53% member of Hawks Prairie Casino, LLC, a Washington LLC, filed a voluntary Chapter 11 bankruptcy petition in 2007. Hawks Prairie operates a gambling casino in Thurston County, Washington.

Filed under:

USA, Insolvency & Restructuring, Litigation, Stoel Rives LLP, Bankruptcy, Conflict of laws, Debtor, Federal Reporter, Limited liability company, Gambling, Consent, Debtor in possession, Casino, US Code, Trustee, Ninth Circuit

Location:

USA

Firm:

Stoel Rives LLP

Shopping center in Provo, Utah

2011-10-13

In re Provo Gateway, LLC (Bankr. D. Utah) Case no. 11-31259

Filed under:

USA, Utah, Insolvency & Restructuring, Litigation, Real Estate, Greenberg Traurig LLP, Bankruptcy, Debtor, Leasehold estate, Accounts receivable, Limited liability company, Personal property, Holding company

Location:

USA

Firm:

Greenberg Traurig LLP

169-unit apartment building in Sherman Oaks, California

2011-10-13

In re Summer View Sherman Oaks Apartments, LLC (Bankr. C.D. Cal.) Case no. 11-19800

Filed under:

USA, California, Insolvency & Restructuring, Litigation, Real Estate, Greenberg Traurig LLP, Bankruptcy, Debtor, Accounts receivable, Limited liability company, Personal property

Location:

USA

Firm:

Greenberg Traurig LLP

Computer developer in Madison, Wisconsin

2011-10-13

In re MicroBlade, LLC (Bankr. W.D. Wis.) Case no. 11-14981

Filed under:

USA, Wisconsin, Banking, Insolvency & Restructuring, IT & Data Protection, Litigation, Patents, Telecoms, Trademarks, Greenberg Traurig LLP, Bankruptcy, Debtor, Patent infringement, Accounts receivable, Limited liability company, Personal property

Location:

USA

Firm:

Greenberg Traurig LLP

Shopping center properties in North Carolina

2011-10-13

In re Piedmont Center Investments, LLC (Bankr. E.D. Wis.) Case no. 11-32453

Filed under:

USA, North Carolina, Insolvency & Restructuring, Leisure & Tourism, Litigation, Real Estate, Greenberg Traurig LLP, Bankruptcy, Debtor, Accounts receivable, Limited liability company, Personal property

Location:

USA

Firm:

Greenberg Traurig LLP

Seventh Circuit rules that secured creditors must be given the right to credit-bid

2011-10-13

In a victory for secured creditors, the Seventh Circuit Court of Appeals recently held inRiver Road Hotel Partners, LLC v. Amalgamated Bank (In re River Road Hotel Partners, LLC), 2011 WL 2547615 (7th Cir. June 28, 2011), that a dissenting class of secured lenders cannot be deprived of the right to credit-bid its claims under a chapter 11 plan that proposes an auction sale of the lenders’ collateral free and clear of liens.

Filed under: