In lengthy insolvency proceedings, interest accrued on existing claims during the “post-filing” period can represent a substantial portion of the debtor’s estate.
During the 2008 financial crisis and its aftermath, it became commonplace for a distressed bank to be taken over(night) by the Federal Deposit Insurance Corporation (FDIC) and then sold, that same day, to another bank (or bank holding company) that agreed to take on the depository liability associated with the failed bank in exchange for its assets (and customer base). Some banks, however, survived the tidal wave of takeovers.
The United States Court of Appeals for the First Circuit contributed to a circuit split regarding jurisdiction in its recent decision in Pinpoint IT Services, LLC v. Rivera (In re Atlas IT Export Corp.).
The Supreme Court Gets Its Grammar on: Interpreting the Right to Postpetition Interest Under Section 506(b)
In this Throwback Thursday, piece we revisit the decision of the United States Supreme Court in U.S. v. Ron Pair Enters. In a 5-4 decision, the Supreme Court held that section 506(b) of the Bankruptcy Code permits a creditor to receive postpetition interest on an oversecured claim even if the creditor does not have the benefit of an agreement providing for interest on the claim.
This morning, the Supreme Court issued its hotly anticipated decision in Executive Benefits Insurance Agency v.
Courts Begin to Wrestle with the Impact of on a Debtor’s Ability to Recover Estate Property
This week, the Weil Bankruptcy Blog premieres a new series, “Lookback Period.” In these entries, we will periodically review and summarize the hot topics on which we have been writing over the last couple of weeks. We thought this might be an easy way on a summer Friday (or a rainy weekend) to catch up on what you might have missed in the Weil Bankruptcy Blog.
More Momentive, This Time From the District Court
Judge Vincent Bricetti of the United States District Court for the Southern District of New York issued a ruling in the Momentive Performance Materials cases affirming the bankruptcy court’s confirmation rulings on Monday, May 4. Key themes raised in this case of interest to distressed investors and addressed in Judge Bricetti’s ruling include the appropriate interpretation of certain inde
Restructuring professionals cite giving the debtor a “fresh start” as one of the goals of bankruptcy. In order to assist the debtor, the Bankruptcy Code contains a number of provisions capping claims. One of these provisions is