News & Analysis as of

Loans Debtors Bankruptcy Court

King & Spalding

New York Bankruptcy Court Grants Loan Buyer's Motion for Full Recovery of $5 Million Supersedeas Appeal Bond

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On June 12, 2024, the U.S. Bankruptcy Court for the Southern District of New York granted a loan buyer’s motion to recover against a supersedeas appeal bond, finding that, as result of the appeal, the loan buyer suffered...more

Jones Day

Cure and Reinstatement of Defaulted Loan Under Chapter 11 Plan Requires Payment of Default-Rate Interest

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Section 1124(2) of the Bankruptcy Code gives chapter 11 debtors a valuable tool for use in situations where long-term prepetition debt carries a significantly lower interest rate than the rates available at the time of...more

Troutman Pepper

Colo. Bankruptcy Ruling Clarifies Debt Collection Rules

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On April 24, the Colorado Supreme Court issued its highly anticipated decision in U.S. Bank National Association v. Silvernagel. The decision made Colorado the latest state to recognize that a borrower’s bankruptcy...more

Alston & Bird

Structured Finance Spectrum - Summer 2023

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Welcome to the latest edition of the Spectrum, covering hot-topic issues in the structured finance markets in the U.S. and UK. This edition features smooth sailing through safe harbors, the English Court doing the cross-class...more

Patterson Belknap Webb & Tyler LLP

The Unique Case of Bittrex

On May 8, cryptocurrency platform Bittrex filed for chapter 11 in Delaware. Bittrex’s first day filings emphasize that, unlike many other crypto filings over the past year, this case is not a “free fall” bankruptcy. In...more

King & Spalding

Florida Bankruptcy Court Holds That Lenders Must Specify Post-Judgment Interest Rates in Addition to Post-Default Rates in Loan...

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On November 21, 2022, the U.S. Bankruptcy Court for the Southern District of Florida sustained the debtors’ objection to mortgage lender Benworth Capital Partners, LLC’s proof of claim and held that the state’s statutory...more

Dunlap Bennett & Ludwig PLLC

Can You Give It Away? Discharge Waivers in Bankruptcy

One of the main reasons people and entities file for bankruptcy is to obtain a discharge of their debts. The Bankruptcy Code (U.S.C. §§ 101, et. seq) provides honest debtors with a fresh start by imposing an injunction...more

Perkins Coie

Landlords Defeat Debtors Seeking COVID-19 Rent Abatements and Deferrals

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Retail, restaurant, entertainment, and other industries have been devastated by COVID-19 and the resulting governmental orders either precluding or materially limiting operations. In that regard, retail bankruptcy filings...more

Patterson Belknap Webb & Tyler LLP

Bankruptcy Court Finds Arbitration Clause in Consumer Loan Contract to be Sufficient Cause to Grant Relief from Automatic Stay

When a bankruptcy petition is filed, an automatic stay comes into effect staying proceedings against the debtor or the debtor’s property. 11 U.S.C. § 362(a). The stay centralizes litigation regarding the debtor and its...more

Patterson Belknap Webb & Tyler LLP

Post-Confirmation Jurisdiction of the Bankruptcy Court: “Close Nexus” or “Conceivable Effect”?

In January 2014, Lehman Brothers Holdings, Inc. (“Lehman”) settled claims filed by Fannie Mae and Freddie Mac arising out of each of their purchases of mortgage loans from Lehman and its affiliates. Lehman then sought to...more

McNees Wallace & Nurick LLC

Driver’s License Please – Article 9 Style

If you are loaning money in Pennsylvania on a secured basis you must use the name of your individual debtor as stated on his/her driver’s license for your financing statement. 13 Pa.C.S.A. § 9503(a)(4). Secured lenders...more

Allen Matkins

Ninth Circuit Bankruptcy Appellate Panel Holds that an Oversecured Creditor Is Entitled to Default Interest After the Petition...

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In Wells Fargo Bank, N.A. v. Beltway One Dev. Grp., LLC (In re Beltway One Dev. Grp., LLC), 547 B.R. 819 (B.A.P. 9th Cir. 2016), the Ninth Circuit Bankruptcy Appellate Panel recently held that an oversecured creditor is...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

The PRA Publishes Guidance on Financial Conglomerate Waivers - On January 4, the Prudential Regulation Authority ("PRA") published guidance on the application and supplementary forms that should be submitted by firms...more

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