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On Jan. 18, 2012, Eastman Kodak Company and 15 of its affiliates filed voluntary Chapter 11 petitions in the Bankruptcy Court for the Southern District of New York. The sale of intellectual property figures prominently into Kodak's plans for reorganization.
Two recent cases from Michigan could have far-reaching implications nationwide regarding the enforceability of non-recourse loans as fully recourse.
Features
Receivership is a frequently used remedy for lenders faced with defaulted loans collateralized by income-producing properties, such as shopping centers.
Features
ALM, publisher of <i>Law Journal Newsletters</i> has named Bill Carter its president and chief executive officer.
In-depth analysis of a recent key ruling.
The decision of the <i>New York Supreme Court in Bank of America, N.A. v. PSW NYC LLC</i> garnered national attention in 2010. The court ruled that, under the terms of an Intercreditor Agreement in common use in complex real estate loans across the United States, a mezzanine lender could not exercise its rights against its collateral without first paying off senior debt. Now the issue is causing a stir in the Arizona desert.