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Beyond the Signed Agreement: Intercreditor Dynamics in Bankruptcy
When a creditor enters the realm of bankruptcy, lenders often find that the many detailed provisions of an extensively negotiated intercreditor agreement are no longer controlling. On the contrary, the intercreditor agreement may have little influence on the outcome of many critical matters that arise in bankruptcy. Questions regarding enforceability of bankruptcy-related waivers limit their effectiveness. Moreover, the exigent circumstances created by bankruptcy oftentimes mean that the written agreement is but one of many factors affecting outcome of intercreditor disputes in bankruptcy. Valuation, inter-facility claims trading, alignment of other claims and interests, among other things, further impact resolution of intercreditor issues. A considered strategy that accounts for all these various matters, coupled with flexible execution, is the key to maximizing position when the intercreditor relationship is subsumed by the bankruptcy of the borrower.
In anticipation of a bankruptcy proceeding, careful review of the particular terms of the intercreditor agreement is necessary to establish the parameters of the likely disputes, but the specific circumstances of the debtor should be incorporated in the strategies and responses that will affect the outcome of bankruptcy-related issues.
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.