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Insolvency Service “reframes” view of creditor – IPs can apply their discretion (UK)

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Second Circuit Affirms Unfavorable Plan Treatment of Senior Secured Creditor in DBSD North America

The Second Circuit Court of Appeals issued a summary order this week upholding the aggressively unfavorable treatment of a senior secured creditor under the reorganization plan (the “Plan”) of DBSD North America, f/k/a ICO North America (“DBSD”).

Foreign insolvency judgment enforcement - a fiction?

Rubin & Lan v Eurofinance led us to say in August 2010 that the Court of Appeal had taken a novel approach founded on the principles of modified universalism, developing the common law and allowing enforcement of a foreign insolvency...

Professor Levitin Refutes the American Securitization Forum

Professor Adam Levitin posted this blog post on Creditslips.org refuting the position of the Tom Deutsche of the American Securitization Forum's testimony before the Senate Banking Committee last week. Professor Levitin also recently testified before

The Power To Heal

I strongly believe that the role of lawyers as it affects society in law itself and finance has been corrupted. The corruption comes from greed and ego - not just on the part of the lawyer, but also on the part of the client. Lawyers should calm the

Congress Must Force Fannie and Freddie to Control Foreclosure Abuses Against Homeowners (Part 2)

Fannie Mae and Freddie Mac have complete power to address a large part of the national foreclosure problem by demanding that the mortgage servicers and law firms they hire to execute foreclosures do so correctly and fairly. At this foreclosure

Fannie and Freddie's Excuse for Abusive Foreclosures on Homeowners: "It's Not Us! It's the People We Hire!" (Part 1)

Fannie Mae and Freddie Mac, government-backed businesses who together own or guarantee about half of the outstanding mortgages in the country, were in Washington, DC last week defending themselves before a Senate committee looking into abusive - and

Yet More Congressional Hearings on Foreclosure Crisis

The House Committee on the Judiciary held a hearing on "Foreclosed Justice: Causes and Effects of the Foreclosure Crisis" today. Yesterday, the Senate Banking Committee held hearings on the foreclosure crisis. Further hearings are scheduled for

Definition of “Partner” in Bankruptcy Reorganization Plan Controls Subordination of Claims, Not Definitions under State Law

By: Jason L. Gould St. John's Law Student American Bankruptcy Institute Law Review Staff The Seventh Circuit, in In re Altheimer & Gray, [1] held that the meaning of “partner” in a bankruptcy proceeding would be determined in accordance with the

Blast From The Past: Website Provides Quick Access To Older Bankruptcy Code Sections

Thanks to Professor Robert Lawless of the University of Illinois College of Law, also of the Credit Slips blog, you can now save yourself from combing through dusty old books to find the language of Bankruptcy Code provisions going back as far as

Blast From The Past: Website Provides Quick Access To Older Bankruptcy Code Sections

Thanks to Professor Robert Lawless of the University of Illinois College of Law, also of the Credit Slips blog, you can now save yourself from combing through dusty old books to find the language of Bankruptcy Code provisions going back as far as