As the Supreme Court recently reminded us in Bullard v. Blue Hills Bank, not all orders in bankruptcy cases are immediately appealable as a matter of right. Only those orders deemed sufficiently “final” may be appealed without leave under 28 U.S.C. § 158(a).
A recent case from the 11th Circuit illustrates the procedural perils of litigation arising from a bankruptcy case but ultimately tried in the district court. In Rosenberg v.
There has been a relatively recent uptick in plaintiffs’ counsel filing putative class actions in multiple state and federal courts for alleged violations of a debtor’s bankruptcy discharge injunction based upon the debtor’s receipt of post-discharge mortgage-related communications. These claims assert putative class action challenges to post-discharge communications alleged to be attempts at personal collection of the discharged mortgage debt.
One of the ironic issues for failing banks has been the fact that banks that they have had to continue to deal with their borrowers and depositors in the ordinary course of business even though they are already in the queue for resolution by the FDIC. So for example, loans continue to get renewed and documents executed. What happens if you renew a loan shortly before the bank fails, do you have some sort of defense to enforcement of the loan when the successor bank or the FDIC makes demand on you?
Anyone who obtains title insurance, whether as an owner or a lender, should be aware of a recent abrupt and significant change in title insurance practices across the country. Title companies have recently stated that they will no longer delete creditors’ rights exclusions from, or add affirmative creditors’ rights coverage as an endorsement to, any of their issued title policies.
ADVISORY | DISPUTES | TRANSACTIONS Make insolvency great again February 2017 One of the great criticisms of the new President of the United States of America is that his companies filed for bankruptcy four times when he was a business mogul. In truth Donald Trump utilised various provisions of Chapter 11 of the US Bankruptcy Code to restructure his businesses. In an effort to encourage a similar level of entrepreneurial spirit, a mere 14 days after his election the EU Commission unveiled plans to adopt a pan-European regime which closely mirrors much of the US’s Chapter 11.
In Vizcaya Partners Ltd v Picard and another, the Privy Council recently held that anagreement to submit to the jurisdiction of a foreign court can arise through an implied term but there must be actual agreement (or consent). However, simply agreeing that an agreement should be governed by foreign law did not amount to agreement to the corresponding jurisdiction.
The Budget reaffirmed the Government’s commitment to implementing reforms to support consumers and businesses affected by COVID-19.
The Government confirmed the implementation of a number of measures designed to reduce the regulatory burden to ensure a timely flow of credit and resolution for distressed business. These include:
Introduction
Key Issues
The transaction documents (eg ISDA, GMRA or prime brokerage agreements) for derivatives transactions (or other transactions involving netting provisions) are usually governed by English law or New York law. However, there are a number of local law issues which our clients should consider when proposing to enter into such transactions with offshore counterparties, including the following key issues: