December 29, 2020
The Eleventh Circuit decided that the SBA acted within its rulemaking power by precluding chapter 11 debtors from receiving PPP loans under the CARES Act.
11th Circuit
December 02, 2020
New York Court of Appeals decision opens the door to state court suits against third parties who cause debtors to breach contracts with lenders.
2nd Circuit, New York
October 06, 2020
Foreclosing on cash doesn’t moot an appeal from the order modifying the automatic stay as to cash.
1st Circuit
September 16, 2020
Delaware district judge holds that the final bid at auction, not the lender’s last credit bid, fixes the value of the lender’s collateral.
3rd Circuit, Delaware
September 15, 2020
Even though the price and terms were ‘entirely fair,’ Bankruptcy Judge Garrity disapproved DIP financing that would have locked in the right of controlling shareholders to purchase new stock at a 20% discount.
2nd Circuit, New York, New York Southern District
September 11, 2020
Bankruptcy Judge Glenn hints that the lenders and the debtor should mediate tough questions about the enforceability of a $150 million ‘sale’ of future credit card receivables.
2nd Circuit, New York, New York Southern District
August 14, 2020
Even if flip clauses are ipso facto clauses, the Second Circuit holds that enforcement is permitted by the safe harbor in Section 560.
2nd Circuit
