Business Reorganization

In re Moran: Why a Third-Party Challenger to a Court-Ordered Transfer Must Satisfy the "Persons Aggrieved" Standard

Standing is “an essential and unchanging part of the case-or-controversy requirement of Article III.”[1] In challenging a bankruptcy c

Left Holding the Bag: Are Injunctions to Clean Contaminated Sites Dischargeable in Bankruptcy?

For some time, there has been confusion over when a civil injunction is dischargeable in bankruptcy. In United States v.

Is Your Case Right for a §503(B)(9) Program? - Using §503(B)(9) to Improve Liquidity and Normalize Vendor Relations

Much has been written about what §503(b)(9) is not: It does not do enough to protect creditors; it gives too much leverage to vendors and not enough to the debtor; it is not clear enough to provide various constituencies with definite implementation guidelines; or it just adds another layer of complexity that has to be dealt with.

Getting More than You Paid For: Why Companies Can Recover the Full Value of Debt Even if It Was Purchased at a Discount

When the Federal Deposit Insurance Corporation (FDIC) determines that a bank is insolvent, the FDIC will sometimes take it over to ensure that the bank’s deposits are secure. One way the FDIC protects these deposits is by selling off the loans that the bank owns, often at a discount.

GM and Chrysler: The Chapter 11 Solution

After U.S. Government “bailout” loans, days of congressional hearings and months of speculation about “too big to fail” or the “cascading” effect throughout the supply chain, GM and Chrysler both filed for protection under chapter 11. Here’s why chapter 11 made sense.

Combined Hearings on Approval of Disclosure Statement and Confirmation of Plan

As a result of the general prohibition under §1125(b) of the Bankruptcy Code on solicitation of votes to accept or reject a plan prior to court approval of a disclosure statement, there is usually a period of time between the hearing on approval of a disclosure statement and the hearing on confirmation of the plan.

Purchasing Trademarks Out of Bankruptcy

A major trend in insolvency law over the past 10 years is the increase in assets sales through bankruptcy. Instead of a confirming a reorganization plan under chapter 11, a majority of debtors market and sell substantially all their assets through a §363 sale. A major challenge for potential buyers in this situation is the ability to accurately value the assets to be purchased. This uncertainty can be especially pronounced when intellectual property (IP) rights, such as trademarks, are involved since their value depends, in large part, on the ability of the owner to enforce its monopoly.

Court Affirms Loan Servicer Standing to Seek Relief from Automatic Stay

A recent bankruptcy decision confirms that loan servicers for a securitized trust have standing to pursue relief from the automatic stay.  In re Woodberry, 383 B.R. 373 (Bankr. D. S.C. Feb.

Termination and Enforcement of Swap Agreements in Chapter 11

The recent disruptions in financial markets have caused many of our clients to assess their counterparty exposure to troubled financial institutions. This article summarizes the key principles governing swap participants' rights in bankruptcy proceedings to assist the reader in working through the current turmoil in financial markets.

Committee Co-Chairs and New Leadership Positions Announced

ABI is pleased to announce your 2008-2009 co-chairs, as well as the addition of five new leadership positions.  These new positions are a result of your feedback regarding opportunities for involvement and advancement in the association.  The first position is that of the Education Director, who will assist the chairs in coordinating and administering

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