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This panel will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restructurings or formal bankruptcy sales, and will discuss lenders’ and borrowers’ perspectives on regulatory challenges and procedural issues, such as anti-trust and environmental concerns, that are sometimes raised during a bankruptcy case, as well as issues with § 363 sales, DIP milestones and restructuring support agreements.
California faces a common, unfortunate and alarming reality: wildfires. So far in 2022, California has faced approximately 6,739 fires covering almost 365,895 acres. [1] Beyond and often as a consequence of damaging property, land and wilderness, wildfires can also lead to bankruptcy. One California fire did lead to bankruptcy, and it poses complex questions surrounding the rights of secured creditors in insurance policies for commercial real estate.
Though hints of a digital reality first surfaced as early as 2003 when Second Life made its debut, Facebook’s fall 2021 rebranding — to “Meta” — brought the metaverse to the center stage. That Facebook CEO Mark Zuckerberg would go so far as to change the iconic name of our favorite friend-finding app surely signaled a sense of inevitability that the metaverse would soon pervade our lives.
Creditors that file motions to dismiss or convert pursuant to 11 U.S.C. § 1112 [1] to reduce delay by debtors must generally avoid continued hearings in subchapter V cases. [2] The § 1112 motion requires the debtor to show, in part, that “there is a reasonable likelihood that a plan will be confirmed ...
If a mortgage is ambiguous or contains a mistake, a lender may generally reform the mortgage under state law. [1] But what if a borrower files a bankruptcy petition before a lender does so? In a divided opinion, the U.S. Court of Appeals for the Fifth Circuit confirmed that a lender may not reform a mortgage post-petition. [2] The dissent, however, offers lenders a potential pathway around this prohibition in future cases.
At this year's ABI Annual Spring Meeting, being held April 28-30, 2022, at the JW Marriott in downtown Washington, D.C., the Secured Credit Committee will be partnering with the Asset Sales Committee to present "Challenges Facing Secured Creditors in Asset Sales." This session will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restructurings or formal bankruptcy sales.
We’ve all seen it, right? Loan documents where a borrower grants a blanket security interest in nearly all of its assets to a lender, including assets that it may acquire in the future? These “after-acquired” security interests in real and personal property are all too familiar to most secured lenders — especially when lending to a sophisticated business with fluctuating assets. Security interests in a borrower’s future assets are intended to provide extra protection to the lender and are enforceable in most contexts.
