Subsequent Mortgagees Get No Satisfaction From Forged Statement
The Legal Intelligencer
Friday, May 17, 2013
In Secured Lending 101, we learn that the general rule is "first in time, first in right." Well, how does one determine who is "first in time"? Generally, secured lenders may rely on state and county recording offices to determine the priority of their lien against a borrower's property.
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Courts Recharacterizing Insider 'Loans' as Equity
The Legal Intelligencer
Tuesday, May 14, 2013
The U.S. Court of Appeals for the Ninth Circuit joined a number of other circuit courts in recognizing the authority of courts to recharacterize purported debt owed by a corporation as equity.
Direct Deposits to Jointly Held Account Are Fraudulent Transfers
The Legal Intelligencer
Friday, May 3, 2013
On February 28, in Cohen v. Sikirica (In re Cohen), the U.S. District Court for the Western District of Pennsylvania affirmed the decision of the U.S. Bankruptcy Court for the Western District of Pennsylvania, which held that direct deposits of a debtor's paycheck into an entireties account held jointly by the debtor and his wife constituted fraudulent transfers under Pennsylvania law.
Chapter 9 Bankruptcy of Stockton, Calif., Moves Forward
The Legal Intelligencer
Friday, April 19, 2013
With a population of approximately 300,000, Stockton, Calif., is the largest city in the United States to seek bankruptcy protection.
Chapter 13 Debtor's Proposed Adjustment Plan Goes Up in Smoke
The Legal Intelligencer
Friday, March 15, 2013
On June 9, 2011, in In re McGinnis, 453 B.R. 770 (Bankr. D. Or. 2011), the U.S. Bankruptcy Court for the District of Oregon addressed certain issues arising from a Chapter 13 debtor's proposed debt adjustment plan.
Debtor Beware: Strict Enforcement of Contract Terms May Go Both Ways
The Legal Intelligencer
Friday, March 1, 2013
Equitable concepts and considerations frequently play a significant role in disputes tried before a bankruptcy court. Moreover, such litigation is sometimes conducted on a somewhat less formal basis than that which might occur in other venues.
Post-Petition Lock-Up Agreement Permitted by Del. Bankruptcy Court
The Legal Intelligencer
Friday, February 15, 2013
Substantial increases in the cost of administering Chapter 11 cases over the years resulted in new strategies to advance more efficient restructurings. The negotiation of pre-packaged and pre-negotiated reorganization plans as part of pre-bankruptcy discussions among the various stakeholders is now commonplace.
Third Circuit Broadly Defines IP Licenses Entitled to Bankruptcy Code Protection
The Legal Intelligencer
Monday, February 11, 2013
The U.S. Court of Appeals for the Third Circuit recently affirmed its expansive definition of what constitutes an intellectual property license in In re Spansion. The Third Circuit clarified that a license need not be expressly labeled as such or formally grant intellectual property rights, but instead is a mere waiver by the holder of intellectual property of its right to sue.
Post-Rejection Lessee Rights Upheld Despite 'Free and Clear' Sale
The Legal Intelligencer
Friday, February 1, 2013
Under Section 365(h) of the Bankruptcy Code, where a debtor, as lessor, rejects a lease, the debtor's contractual obligations under the lease generally disappear.
Administrative Priority for Post-Petition, Pre-rejection Lease Indemnification Obligations
The Legal Intelligencer
Friday, January 18, 2013
The Bankruptcy Code creates a series of priorities that dictate the order in which claims are paid. Needless to say, obtaining the highest priority status is an important objective for any creditor.
