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

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What Does “Commercially Reasonable Determinants of Value” Mean Under Section 562 of the Bankruptcy Code?

As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”), Congress added Section 562 to the Bankruptcy Code. Section 562 governs the timing of damage measurements with respect to swap agreements, securities contracts

What Does “Commercially Reasonable Determinants of Value” Mean Under Section 562 of the Bankruptcy Code?

As part of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (“BAPCPA”), Congress added Section 562 to the Bankruptcy Code. Section 562 governs the timing of damage measurements with respect to swap agreements, securities contracts

CVAs can compromise guaranteed landlords' claims if IPs are careful

Guarantee-stripping - the compromise of a landlord's claim against the guarantor of a tenant debtor - also known as the Powerhouse principle, has been endorsed by the High Court as a valid legal mechanism within a CVA, as long as...

"The Dodd-Frank Wall Street Reform and Consumer Protection Act" - Some Residential Mortgage Provisions

H.R. 4173 The Dodd-Frank Wall Street Reform and Consumer Protection Act - was signed into law by President Obama on July 21, 2010 as Public Law 111-203. It contains various residential mortgage provisions. Section 4 - General Effective Date - one day

Update on HAMP

Testimony Before the Senate Committee on Finance on July 21, 2010 Neil Barofsky - Special Inspector General of TARP Elizabeth Warren - Chair of the Congressional Oversight Panel Richard Hillman - Managing Director of Financial Markets and Community

Stonewall Stallions Files Bankruptcy

Prominent thoroughbred owner Stonewall Farm Stallions filed bankruptcy on June 20, 2010. In its Bankruptcy Petition, the large horse operation lists Fifth Third Bank and Harleysville National Bank among the largest creditors with debts of

Filing Chapter 7 Bankruptcy With Inherited Property

You’re thinking about filing Chapter 7 bankruptcy, but you’ve got property (either real estate or personal property) that you inherited. You’re concerned that you will lose it if you file for bankruptcy. Fair enough. Simply put, the New York

Which Chapter of Bankruptcy To Choose When A Car Is Involved

Filing for bankruptcy in New York often involves a car. Though many New York City residents use the subway or the bus to get back and forth, people with children or who work outside of the main transportation areas (for some reason, most of Queens

Texas Rangers Chapter 11 Case Gets Curiouser and Curiouser

The Texas Rangers Baseball Partners (“TRB Partners”) Chapter 11 case descended into the realm of the bizarre several weeks ago. Even by the standards of this case, however, the latest line of attack by the lenders seeking to delay the sale of the

June 2010 6th Circuit Bankruptcy Case Summaries

National Union Fire Ins. Co. v. VP Buildings, Inc. (6th Cir.) After the Debtor filed for Chapter 11, it bought insurance whereby the Debtor agreed to reimburse the insurance company for certain potential future claims. Subsequently, the Debtor filed