Practice Areas & Industries: Duane Morris LLP

 




Creditors' Rights and Advisory Services Return to Practice Areas & Industries

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Practice/Industry Group Overview

Due primarily to the firm's long history of representing banks, other commercial lenders and insurance companies, lawyers in the Business Reorganization and Financial Restructuring group have extensive experience in the protection and advancement of creditors' rights in insolvency situations.

Often, the protection of a creditor's rights requires the filing of a claim or the taking of some other action in a debtor's bankruptcy case. Just as often, however, creditor's rights are protected in non-bankruptcy courts by recourse to various state and federal laws such as fraudulent transfer and conveyance laws (based on either the Uniform Fraudulent Transfer Act or the Uniform Fraudulent Conveyance Act), the Uniform Commercial Code, title and lien recording statutes, laws regarding receiverships and assignments for the benefit of creditors, as well as various provisions of state corporation and business association laws.

Knowledge of the vast body of debtor-creditor law also translates into the ability to advise clients regarding business strategies and transactions, and to structure and prepare documentation for transactions or business programs in order to help identify and, where possible, limit the client's exposure to counterparty credit risk. Our lawyers are often called upon by clients to structure agreements in anticipation of the counterparty's bankruptcy, insolvency or failure to perform. These agreements range from litigation settlement agreements to warehousing agreements, and from collateral trust, insurance indemnity and surety bond agreements to securities lending, swap and other derivatives transaction agreements.


 

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Articles Authored by Lawyers at this office:

Tweet All About It: U.S. Bankruptcy Court Rules Business Social Media Accounts Are Property of Debtor LLC's Bankruptcy Estate, Not Individual LLC Members
Rosanne Ciambrone,Rudolph J. Di Massa,Ron Oliner,Lauren Lonergan Taylor, April 22, 2015
In a case of first impression in Texas, the United States Bankruptcy Court for the Southern District of Texas held that the former majority member of a chapter 11 LLC debtor had to relinquish control of the LLC's Facebook page and Twitter account because they were property of the LLC's bankruptcy...

Bankruptcy Court Finds Debtor Entitled to a "Free House" Because Mortgage Foreclosure Complaint Barred by New Jersey Statute of Limitations
Jarret P. Hitchings,Brett L. Messinger,Stuart I. Seiden, January 19, 2015
Mortgage lenders should be aware of the New Jersey statute of limitations on mortgage foreclosure complaints. In In re Washington, 2014 Bankr. LEXIS 4649 (Bankr. D.N.J. Nov. 5, 2014), the United States Bankruptcy Court for the District of New Jersey held that a mortgagee and its servicer were...

Second Circuit's Significant Decision Could Impact Liquidating Trustees
, September 01, 2014
In the case of United States of America v. Edward P. Bond, No. 12-4803 (2d. Cir. August 13, 2014), the United States Court of Appeals for the Second Circuit (the "Second Circuit") issued a decision that could have far-reaching effects on how liquidating chapter 11 bankruptcy cases will be...

Maine Supreme Court Decision Limits Scope of MERS' Ability to Assign Mortgages
, July 23, 2014
On July 3, 2014, the Maine Supreme Judicial Court issued a ruling in Bank of America, N.A. v. Greenleaf, 2014 ME 89 (Me. July 3, 2014), significantly affecting the ability of Mortgage Electronic Registration System, Inc. (MERS) to assign mortgage rights as a "nominee" of a mortgage...

New Jersey Bill Requires Creditors to Maintain Vacant Property During Pending Foreclosures
, July 16, 2014
Effective July 14, 2014, New Jersey municipalities will be authorized to penalize creditors who do not address code violations or abate nuisances on vacant or abandoned residential property subject to a pending foreclosure action.