Michael L. Cook
A bankruptcy court properly denied a bank’s motion to compel arbitration of a debtor’s asserted violation of the court’s discharge injunction, the U.S. Court of Appeals for the Second Circuit held.
F. Paul Greene
This is not the first time that a credit reporting agency has been breached, nor is it the first time that Equifax has reported a breach. What is different with the current breach is its size and the nature of information compromised, as well as the implications of the breach in light of the increasingly complex web of cybersecurity regulations nationwide.
With 143 million people potentially hit by Equifax Inc.'s data breach, there's no doubt there will lawsuits — a lot of them. "You'll have suits in…
Paul A. Rubin and Hanh V. Huynh
Considerations for Bankruptcy Counsel
Substantive non-consolidation opinion letters have long been a regular “check-the-box” item in large commercial real estate transactions. While substantive consolidation jurisprudence has not changed materially over the past decade, these opinion letters should not be treated lightly by borrowers or their counsel.
Norman N. Kinel and Elliot M. Smith
A New Obstacle to D&O Recoveries for Creditors
No matter how meritorious a claim may be, its ultimate value to creditors depends upon one thing — whether there is a viable source to satisfy any judgment obtained, since many D&Os do not have sufficient personal assets to satisfy any significant damages that may be awarded.
Chris Hawkins and Karlene Archer
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).
Michael A. Brandess and Jonathan Friedland
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?
John J. Rapisardi and Joseph Zujkowski
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.