At the end of last year, the Third Circuit added to several recent decisions addressing whether a creditor was entitled to payment of a "make- whole" premium in connection with a Chapter 11 case. The court's opinion is the most creditor-friendly decision issued to date on this topic.
The Ninth Circuit recently announced in Mastan v. Salamon (In re Salamon) that a secured creditor with a nonrecourse mortgage cannot assert a claim for any deficiency if the underlying property is foreclosed on during the bankruptcy case. Here's an analysis of the decision.
Much has been written about the risk that a transaction denominated and documented as an equipment "lease" may be recharacterized a security interest. Equipment lessors seem to understand. Interestingly, equipment lessors commonly seem to not understand all of the rights and remedies they have in the absence of recharacterization. So, what's a true equipment lessor to do in the face of the Chapter 11 of its lessee?
Buyers and servicers of "stale," or time-barred, debt have been watching the bankruptcy and appellate courts closely of late, as court after court has ruled on whether a key component of their recovery strategy -- seeking payment related to such time-barred debts by filing proofs of claim in bankruptcy -- violates the Fair Debt Collections Practices Act (FDCPA).
the authors were heavily involved in the cross-border restructuring of CHC Group Ltd. (CHC Parent). CHC Parent was the ultimate holding company of the CHC Group (the Group), being one of the world's largest commercial helicopter services providers, primarily engaged in servicing the offshore oil and gas industry. This article provides a narrative about the case.
White & Case LLP has expanded its Global Financial Restructuring and Insolvency Practice by adding Philip Abelson and David Turetsky as partners in…
Potential Complications in Bankruptcy
An equipment financing company will often decide whether it wants a transaction to be a true lease or a TRAC lease as opposed to a retail sale. A good reason to be able to make the distinction is to determine what might be the best structure for an equipment financier. This article explores the differences.
For the remainder of 2017, due in part to the current uncertainty in the healthcare industry and its legislative oversight, more financially distressed providers are considering Chapter 11 bankruptcy to effectuate closures, consolidation, restructurings and related transactions.
Part Two of a Two-Part Article
Last month, we began our discussion of what constitutes a good-faith defense to a fraudulent transfer claim with an initial examination of the recent Sixth Circuit opinion in Meoli v. Huntington Nat'l Bank. We continue the analysis this month by focusing on sub-issues presented in Meoli, including the question of notice, the proper test of good faith, and an analysis of whether banks may be considered "transferees" with respect to ordinary bank deposits.
Part Two of a Two-Part Article
Last month, we began our discussion of what constitutes a good-faith defense to a fraudulent transfer claim with an initial examination of the recent Sixth Circuit opinion in Meoli v. Huntington Nat'l Bank. We continue the analysis this month by focusing on sub-issues presented in Meoli, and, we discuss a recent Ninth Circuit preference decision that offers a mistaken analysis of the transfer issue.
