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
    SDNY Bankruptcy Court allows as a claim unamortized original issue discount generated in a fair market value exchange
    2013-11-21

    The Bankruptcy Court for the Southern District of New York overseeing the Residential Capital (“ResCap”) cases issued an opinion on November 15, 2013 (the “Opinion”)2 allowing the unamortized interest associated with original issue discount (“OID”) that was generated in a fair market value exchange and claimed by ResCap’s junior secured noteholders (the “Holders”). While the OID ruling is only one component of the Opinion,3 it may have far reaching implications, as already evidenced in the pricing of other OID notes that were the product of fair market value exchanges.

    Filed under:
    USA, New York, Insolvency & Restructuring, Litigation, Dechert LLP, Bankruptcy, Interest, Fair market value, Second Circuit, United States bankruptcy court, US District Court for the Southern District of New York
    Authors:
    Michael J. Sage
    Location:
    USA
    Firm:
    Dechert LLP
    Bankruptcy Court rules OID generated in fair market value debt exchange should be allowed
    2013-11-21

    On November 15, 2013, Judge Martin Glenn of the Bankruptcy Court for the Southern District of New York held that original issue discount (“OID”) created in a prepetition “fair market value” debt exchange is not disallowable in bankruptcy.1 This noteworthy ruling provides important and long-awaited guidance for the investing community on the question left open by the Second Circuit’s 1992 ruling in LTV Corp. v. Valley Fidelity Bank & Trust Co. (In re Chateaugay Corp.).2

    BACKGROUND

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Debevoise & Plimpton, Bond (finance), Bankruptcy, Debt, Fair market value, Market value, Second Circuit, United States bankruptcy court
    Authors:
    Jasmine Ball , Richard F. Hahn , M. Natasha Labovitz , George E.B. Maguire , Shannon Rose Selden , My Chi To
    Location:
    USA
    Firm:
    Debevoise & Plimpton
    First impressions: commercial leases may be assumed within 210-day deadline and assigned later
    2013-11-21

    Commercial landlords hailed as a significant victory the enactment in 2005 of a 210-day “drop dead” period after which a lease of nonresidential real property with respect to which the debtor is the lessee is deemed rejected unless, prior to the expiration of the period, a chapter 11 debtor in possession (“DIP”) or bankruptcy trustee assumes or rejects the lease.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Real Estate, Jones Day, Debtor, Landlord
    Authors:
    Charles M. Oellermann , Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    Stockbroker defense shields Ponzi-scheme broker fees and commissions from avoidance
    2013-11-21

    InGrayson Consulting, Inc. v. Wachovia Securities, LLC (In re Derivium Capital LLC), 716 F.3d 355 (4th Cir. 2013), the U.S. Court of Appeals for the Fourth Circuit examined whether certain securities transferred and payments made during the course of a Ponzi scheme could be avoided as fraudulent transfers under sections 544 and 548 of the Bankruptcy Code. The court upheld a judgment denying avoidance of pre-bankruptcy transfers of securities because the debtor did not have an “interest” in the securities at the time of the transfers.

    Filed under:
    USA, Capital Markets, Insolvency & Restructuring, Litigation, Jones Day, Conflict of laws, Debtor, Security (finance), Title 11 of the US Code, Fourth Circuit
    Authors:
    Dara R. Levinson , Mark G. Douglas
    Location:
    USA
    Firm:
    Jones Day
    For secured creditors, too late may be too little
    2013-11-14

    In a recent advisory, we reported on an apparently favorable decision to secured creditors from the Fifth Circuit Court of Appeals that held that a secured creditor’s claim survives bankruptcy where the secured creditor received notice of the case and was found to have not actively participated in it.

    Filed under:
    USA, Illinois, Insolvency & Restructuring, Litigation, Mintz, Bankruptcy, Debtor, Secured creditor, United States bankruptcy court
    Location:
    USA
    Firm:
    Mintz
    House passes Asbestos Bankruptcy Trust Transparency Bill
    2013-11-15

    This week, the U.S. House of Representatives passed the Asbestos Bankruptcy Trust Transparency Bill. The legislation would, if enacted into law, require bankruptcy trusts to file quarterly reports with bankruptcy courts disclosing the names, asbestos-related exposure history, and basis of the victim’s claims for each claimant. These reports would be made available on the courts’ public dockets. Confidential medical records or social security information would not be disclosed.

    Filed under:
    USA, Employment & Labor, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, US House of Representatives, United States bankruptcy court
    Authors:
    Catherine Payne
    Location:
    USA
    Firm:
    Alston & Bird LLP
    Delaware bankruptcy court holds that mutuality requirement for postpetition setoff is not modified by contract or the safe harbor provision
    2013-11-15

    In an adversary proceeding filed in the American Home Mortgage Holdings, Inc. bankruptcy case, the Delaware bankruptcy court affirmed that triangular setoffs are not allowed under the Bankruptcy Code and cannot be modified by contract or under the Bankruptcy Code’s safe harbor provision. In re American Home Mortgage Holdings, Inc., et al., Adv. Proc. No. 11-51851 (Bankr. D. Del. Nov. 8, 2013). Two contracts were at issue – a swap agreement between a bank and American Home Mortgage Investment Corp.

    Filed under:
    USA, Delaware, Insolvency & Restructuring, Litigation, Alston & Bird LLP, Safe harbor (law), United States bankruptcy court
    Authors:
    Heather Byrd Asher
    Location:
    USA
    Firm:
    Alston & Bird LLP
    FACT Act promises transparency in bankruptcy trust claims and payments for asbestos exposure
    2013-11-18

    Asbestos defendants are one step closer to greater transparency regarding the often illusive bankruptcy trust claims and payments. On Wednesday, November 13, 2013, the U.S. House of Representatives passed H.R. 982, the Furthering Asbestos Claim Transparency (FACT) Act by a 221-199 vote. FACT would amend the U.S. Bankruptcy Code to require trusts formed under a bankruptcy reorganization plan and charged with paying claims connected to asbestos exposure to disclose all demands made by claimants and the basis of any payments made to claimants.

    Filed under:
    USA, Insolvency & Restructuring, Duane Morris LLP, Bankruptcy, Social Security number
    Location:
    USA
    Firm:
    Duane Morris LLP
    Third Circuit finds clouds over debt trades in bankruptcy
    2013-11-18

    In a closely-watched case, the United States Court of Appeals for the Third Circuit recently affirmed the decision of the Delaware District Court, holding that bankruptcy claims are subject to disallowance under section 502(d) of the Bankruptcy Code despite their subsequent sale to a third-party. In In re KB Toys, Inc., No. 13-1197 (3d Cir. Nov.

    Filed under:
    USA, Insolvency & Restructuring, Litigation, Bracewell LLP, Third Circuit
    Location:
    USA
    Firm:
    Bracewell LLP
    Amendments to the federal bankruptcy rules, plus a new "free and clear" sale motion filing fee, to take effect December 1, 2013
    2013-11-19

    Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed -- the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others.

    Filed under:
    USA, Insolvency & Restructuring, Cooley LLP, Title 11 of the US Code
    Authors:
    Robert Eisenbach
    Location:
    USA
    Firm:
    Cooley LLP

    Pagination

    • First page « First
    • Previous page ‹‹
    • …
    • Page 846
    • Page 847
    • Page 848
    • Page 849
    • Current page 850
    • Page 851
    • Page 852
    • Page 853
    • Page 854
    • …
    • 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