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Committee Webinar - Enforceability of Intercreditor Agreements

This program will provide an introduction to the most common types of intercreditor and subordination agreements involved in transactions today and will highlight drafting considerations and points of negotiation involved in each. Additionally, the panelists will provide an overview of important bankruptcy court decisions involving the interpretation and enforceability of intercreditor agreements and subordination agreements and will provide insight about how intercreditor and subordination agreements have changed (or should change) in response.

Buying Unsecured Claims in Good Faith

Good-faith efforts can create good outcomes. A can cause B. The absence of B, however, does not necessarily mean that A was absent: Bad results can occur even with good-faith efforts. The Ninth Circuit recently followed this logic to decide an issue of good faith under § 1126(e).[1] A finding of bad faith requires evidence of a bad motive — not merely a bad outcome.[2]

Good Faith Under § 1126(e)

Confirmation in the New Millennium: Stern and a Plan with Non-Consensual Third-Party Releases

Circuits are split on the issue of whether bankruptcy courts can confirm plans containing non-consensual third-party releases. Historically, the split involved the application of Bankruptcy Code § 105 or 524. Recently, however, a few secured creditors have relied on Stern v. Marshall,[1] in which the Supreme Court held that 28 U.S.C.

Ninth Circuit Expands Scope of Relief Afforded to Secured Creditors Affected by Actual Fraud

The opinion issued by the U.S. Court of Appeals for the Ninth Circuit in DZ Bank Ag Deutsche Zentral-Genossenschaftbank, Frankfurt Am Main v. Meyer[1] is noteworthy to secured creditors in the context of the extent of the judgment to which they may be entitled as a consequence of the commission of actual fraud.

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