Weil

Restructuring

Secured Claims

Chapter 13, Automatic Stay, Avoidance Actions, Breaking the Code, Case Overviews, Chapter 11 Trustees & Examiners, Jurisdiction & Appeals, Litigation Issues, Property of the Estate, Secured Claims, What We're Watching

Courts Begin to Wrestle with the Impact of City of Chicago, Illinois v. Fulton on a Debtor’s Ability to Recover Estate Property

Contributor(s)

Jennifer Brooks
Crozier

Automatic Stay, Government, Litigation Issues, Pre-Filing Considerations, Property of the Estate, Secured Claims, What We're Watching

Supreme Court Holds That a Non-Debtor Retaining a Debtor’s Property Does Not Exercise Control Over the Property in Violation of the Automatic Stay

Contributor(s)

Alejandro
Bascoy

Robert
Niles-Weed

Case Overviews, Financing, Secured Claims

Covenant of Good Faith and Fair Dealing Examined: La Paloma

Contributor(s)

Ronit J.
Berkovich

Second Liens Beware
Delaware Bankruptcy Court Finds De Facto Claim Subordination Under Intercreditor Agreement

Contributor(s)

Credit Bidding, Case Overviews, Distressed Debt Funds, Secured Claims, Valuation

Delaware Bankruptcy Court Declines to Bind Credit Bidders to the Mast

Contributor(s)

Case Overviews, Chapter 11 Plans, Cramdown, Plan Solicitation & Voting, Secured Claims

Upon Further Review, Ninth Circuit Finds No Flag On the Play – Creditor Allowed to Block a Cram-Up Plan Following Claims Purchases

Contributor(s)

David
Griffiths

Chapter 11 Plans, Cramdown, Secured Claims

Second Circuit Allows Efficient Market Interest Rates For Cramdown Loans

Contributor(s)

David
Griffiths

What’s a Cure, Anyway? Ninth Circuit Holds Creditor Entitled to Post-Default Interest Rate

Chapter 11 Plans, Secured Claims

Third Circuit Adopts Nuanced View of “Equal Treatment” in Context of Pre-Plan Settlement Offers

Chapter 11 Plans, Claims, Cramdown, Secured Claims

Improper Calculation of Postpetition Interest Leads to Reversal of a Confirmation Order

Chapter 11 Plans, Cramdown, Secured Claims

S.D.N.Y. Explores Impairment of a Secured Creditor Retaining its Collateral

Contributor(s)

California Court Holds Implied Consent Is a Valid Alternative Basis to Surcharge Secured Creditors’ Collateral

Claims, Secured Claims

Think You Got A Blank Check? Think Again

Chapter 11 Plans, Chapter 11 Trustees & Examiners, Chapter 15, Executory Contracts & Unexpired Leases, International, Lookback Period, Secured Claims

Lookback Period: Eight Weeks (Part 3)

363 Sales, ABI Reform Commission, Cryptocurrency Issues, Chapter 11 Trustees & Examiners, Chapter 7 Trustees, Cramdown, Lookback Period, Secured Claims, Valuation

Lookback Period: Eight Weeks

Two New Decisions Appear to Support Lien-Stripping (Under Certain Conditions)

Chapter 11 Plans, Secured Claims

Why Won’t the Courts Apply the Plain Language of Section 1141(c)? Second Circuit Misses the Chance to Get It Right in Northern New England Telephone Operations

The Cure: Eleventh Circuit Entitles Lender to Default-Rate Interest

363 Sales, Secured Claims

Does Silence Mean Consent? Some Courts Have Found That It Does Not (at Least for Purposes of Sales Under Section 363(f))

Claims, Jurisdiction & Appeals, Secured Claims

SCOTUS Rules that Completely Underwater Liens Ride Through, At Least in a Chapter 7 Case

Chapter 9, Claims, Rules & Procedures, Secured Claims

You’re Late! You’re Late! For a Very Important Date! Seventh Circuit Holds Bankruptcy Rule 3002(c) Deadline to File Proofs of Claim Applies to Secured Claims

Contributor(s)

Claims, Jurisdiction & Appeals, Secured Claims

Breaking News: SCOTUS Rules That Liens Ride Through, At Least in a Chapter 7 Case.

363 Sales, Secured Claims

Fodder for the Dinner Table: The Rights of Secured Creditors in Chapter 11

No Security by Obscurity: The Importance of Clearly Identifying Collateral

Claims, Secured Claims, What We're Watching

Supreme Court to Consider Eleventh Circuit Decisions Upholding “Strip Off” of Junior Mortgage Liens

Charging Liens and Trump Cards: Specific Isolated Funds Not Required

Recent “Family Farmer” Case Shows How Secured Creditors Can Avoid Being Plowed Down By Unfair Cramdown Provisions

Chapter 11 Plans, Cramdown, Secured Claims

Momentous Decision in Momentive Performance Materials: Cramdown of Secured Creditors – Part II

Contributor(s)

David
Griffiths

Chapter 11 Plans, Cramdown, Secured Claims

Momentous Decision in Momentive Performance Materials: Cramdown of Secured Creditors – Part I

Contributor(s)

David
Griffiths

Claims, Financing, Professionals, Secured Claims

You Can’t Always Get What You Want, But If You’re an Oversecured Creditor, You Might Get What You Need

Claims, Secured Claims

Liens Will Survive — All Goes Well for Secured Creditor When Ninth Circuit Extends Dewsnup Principles to Chapter 12

Claims, Secured Claims

Ignoring Its Own Precedent, Seventh Circuit Refuses to Allow Tax Lien to Ride Through Chapter 13 Case

Chapter 11 Plans, Secured Claims

Common-Law Cramdown: The Prohibition on Undue Risk Shifting

Despite Lack of Value, Seventh Circuit Permits Nonrecourse Secured Lender to Assert Deficiency Claim

Chapter 11 Plans, Secured Claims

Cramdown Matrix Update: The Well-Adjusted Interest Rate

Contributor(s)

Gabriel A.
Morgan

Secured Claims, Slice of the Pie, Valuation

Valuing Secured Claims: The Importance of Credible Testimony and Postpetition Rents

Contributor(s)

Gabriel A.
Morgan

Post-Confirmation Issues, Secured Claims

Claim Disallowance and Lien Avoidance: A Distinction with a Difference

When Things Are Just Outside Your Control

363 Sales, Financing, Secured Claims

To Surcharge or Not to Surcharge: The Third Circuit Says Only in Sharply Limited Circumstances

Avoidance Actions, Chapter 11 Plans, Secured Claims

I Thought I Went to Law School to Avoid Math: Calculating Recovery in a Chapter 7 Liquidation in the Context of a Preference Action

Chapter 11 Plans, Secured Claims

The Cramdown Matrix: Reloaded

363 Sales, Secured Claims

Secured Creditors: Dot Your “Is” and Cross Your “Ts”

Contributor(s)

Andriana
Georgallas

Chapter 11 Plans, Secured Claims

Give a Little, Get a Little: Court Crams Down Plan on Oversecured Creditor Who Faces Substantial Risk Under Debtor’s Plan of Reorganization

Chapter 11 Plans, Secured Claims

Reorganizing a “Refuge from Home Life”: Debtor Rides Rising Hotel Market to Cramdown Confirmation

Chapter 11 Plans, Secured Claims

I Would Do Anything for [Confirmation], But I Won’t Do That

Chapter 11 Plans, Secured Claims

Not Everything Is Bigger in Texas – The Fifth Circuit’s Recent Cramdown Interest Decision

Chapter 11 Plans, Pre-Filing Considerations, Real Estate, Secured Claims

The Battle for Camp Bowie: A Fifth-Circuit Story of Artificial Impairment, Cramdown, and the Risks of Secured Creditors

Chapter 11 Plans, Secured Claims

Partial Dirt-for-Debt Plans: No Cushion? No Confirmation

Chapter 11 Plans, Cramdown, Secured Claims

Plucked From the Bargain Bin: Testing the Limits of the New Value Exception to the Absolute Priority Rule

Constitutional Law, Secured Claims, Throwback Thursday

Stare Indecisis – Supreme Court Upholds Depression-Era Law Limiting Ability to Exercise Security Interests After Striking Down Predecessor Law

Constitutional Law, Secured Claims, Throwback Thursday

Bitter Medicine: Debt Overhang Remedy During the Great Depression Turns Out to be a Fifth Amendment Taking

Chapter 11 Plans, Secured Claims

Can a Partial “Dirt for Debt” Plan Satisfy the “Indubitable Equivalent” Cramdown Standard?

Constitutional Law, Secured Claims

Taking Title: the Legal Logic Behind Municipal Proposals to Use Eminent Domain to Seize Underwater Mortgages

Chapter 11 Plans, Secured Claims

When It Comes to Cramdown Interest Rate, Court Rules that Prime Rate is Not So Prime

Ninth Circuit holds that Postpetition Payments Received by Debtor Are Not Proceeds of “Payments to Become Due.”

363 Sales, Secured Claims

Tenth Circuit Grants Creditor a ‘License’ to Take a Security Interest: Creditor’s Security Interest in Proceeds of FCC License Upheld

Claims, Secured Claims

Superpriority under Section 507(b): Powerful but Sometimes Elusive

Chapter 11 Plans, Financing, Real Estate, Secured Claims

Separate But Not Equal: Bankruptcy Court Requires Subordinated Secured Debt to Be Classified Separately from Senior Secured Debt

Claims, Financing, Secured Claims, Valuation

Who Captures the Upside? Third Circuit Considers Valuation of Collateral Expected to Generate Cashflow in Excess of Secured Claims

Chapter 11 Plans, Claims, Secured Claims

Blocking the Blockers – Ninth Circuit Bankruptcy Appellate Panel Rules that Blocking Confirmation Is Not a Good Cause to Change a Vote … Or Perhaps It Is

Dismissal, Chapter 11 Plans, Real Estate, Secured Claims

Chronicle of the “Unforeseeable” Foretold

Real Estate, Secured Claims

Another Look at “Absolute” Assignments of Rent Under New York Law

Secured Creditor Denied Double Recovery – Bankruptcy Court Approves Postpetition Interest but Rejects Late-Payment Premium

Financing, Secured Claims

“Don’t Have a Cow, Man”: Court Rules that a Lender’s Perfected Security Interest in Cattle Does Not Lapse Where the Lender Fails to File a Postpetition UCC-1 Continuation Statement

Chapter 11 Plans, Secured Claims

A Dollar Today Is Worth More Than a Dollar Tomorrow and Other Lessons on “Indubitable Equivalence”

Claims, Schedules & SOFAs, Secured Claims

On Tax Day, the Debtor-Taxpayer Wins (But Not Quite)

Avoidance Actions, Chapter 11 Plans, Involuntary Petitions, Secured Claims

2011: A Reminder to Secured Creditors to Take Nothing for Granted

Contributor(s)

Ronit J.
Berkovich

Automatic Stay, Secured Claims, Valuation

Bankruptcy Roulette: The Uncertainty of Distressed Real Estate Valuation in Bankruptcy Court

Financing, Secured Claims

Imperfect Roses—a Valentine’s Day Lesson for Secured Lenders

Chapter 11 Plans, Pre-Filing Considerations, Secured Claims

Taking the Long View: How Reorganization is More Like a Marathon and Less Like a Sprint

Automatic Stay, Claims, Financing, Jurisdiction & Appeals, Pre-Filing Considerations, Secured Claims

Aggressive Creditors: Go Overboard, And You May Find Yourself Walking the Plank

Secured Lenders Beware! Your Security Interests on All Real Property Assets and Rents of a Hotel May Not Extend to Room Revenues

Chapter 11 Plans, Secured Claims

All or Nothing? Bankruptcy Court Determines that the Partial Surrender of Collateral to a Secured Creditor Is Not the Indubitable Equivalent of the Secured Creditor’s Claim

Third Circuit Addresses What Happens When Fraud Results in Two First Priority Liens on the Same Assets

Chapter 11 Plans, Financing, Secured Claims

Tranche Warfare, or How I Learned To Stop Worrying and Love Bankrupt CDOs

Chapter 11 Plans, Secured Claims

A Cram Session on Cramdown Interest Rates

Chapter 11 Plans, Secured Claims

Secured Lenders to Brace for a Longer Race with “Mace” in Place

Secured Claims, Throwback Thursday

“Till” is Cherished Still… (Despite Losing the Blog’s Sweet Sixteen Contest)

Word to the Wise: The Doctrine of Equitable Subrogation May Permit a Lender to Obtain Priority Over Earlier Perfected Mechanic’s Liens

Financing, Secured Claims

In re Chemtura Corporation: An Analysis of the Enforceability of Make-Whole and No-Call Provisions in the Southern District of New York

Court Allows Borrower’s Proof of Claim in Light of Questionable Practices by Lender

Chapter 11 Plans, Secured Claims

Check Yourself Before You Wreck Yourself: Partial Involvement in a Bankruptcy Case May Cause Parties to Lose Protections Under the Bankruptcy Code

Financing, Secured Claims

Noteholders in the Southern District of New York Not Entitled to an Unsecured Claim for Expectation Damages Resulting From a No-Call Provision in an Indenture

Financing, Secured Claims

Solvent Debtors Beware – Noteholders May Be Entitled to an Unsecured Claim for Expectation Damages Resulting From a No-Call Provision in Indenture

The Continuing Saga of the Perils of Inadequate Documentation in Loan Transfers

Automatic Stay, Secured Claims

The Devil Is in the Documentation