In Providence Hall Associates Limited Partnership v. Wells Fargo Bank, N.A., the Fourth Circuit denied plaintiff’s attempt to receive a second bite at the apple, finding that plaintiff’s lawsuit was appropriately dismissed by the district court on res judicata grounds.
In this day and age, there’s not much appetite for the artificial (whether it be artificial sweetener or feigned affection). We want our food, relationships, and clothing to be authentic and legitimate. Unfortunately, as demonstrated by a recent decision from the Sixth Circuit Court of Appeals, artificiality still manages to creep into certain chapter 11 plans and courtrooms in the form of “artificial impairment.” Artificial impairment refers to a scenario whereby a debtor, which may otherwise be capable of satisfying a class of claims in full, proposes to impair the claim
“‘Two roads diverged in the woods and I took the road less traveled’ [sic] … and it hurt, man! Not cool, Robert Frost! … But what if there really were two paths? I want to be on the one that leads to awesome.”
– Kid President (Robby Novak)
Technical Knock Out (“TKO”): a boxing term used to describe a situation where one boxer is deemed the winner after knocking the other down three times. In this case, a TKO can also be used to describe a recent ruling by the United States District Court for the District of New Mexico.
“Once again, I’m not quite sure what that means.” – Bobby Boucher, The Waterboy
Cases analyzing rights under indentures – and the transactions holders and issuers contemplate (or not) under indentures – continue to gain attention in the restructuring world. Some of those cases involve section 316(b) of the Trust Indenture Act (see our own blog’s recent posts) and payment rights under indentures. Others, such
The Bankruptcy Court for the Southern District of New York recently handed down a decision declining to grant a creditor’s motion to reopen a debtor’s chapter 7 case and vacate a discharge order. Although the legal predicates at issue in that case may not be relevant to all practitioners, the case itself serves as a valuable reminder about “best” practices and provides a number of teachable moments for attorneys of all ages and practice areas.
Background
Last week, we reviewed the recent decision of the Bankruptcy Court for the Southern District of New York that granted recognition to the Brazilian bankruptcy proceedings of three entities in the OAS Group (“OAS”), a Brazilian infrastructure enterprise. Part I of this series focused on the facts of the OAS cases and the objections to recognition interposed by two signific
“[T]hey would sell their possessions and goods and distribute the proceeds to all…” Acts 2:45