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HTMLCollecting Attorney's Fees - To Sue or Not To Sue?
Melinda Agee, Paul G. Durdaller; Stites & Harbison, PLLC;
Legal Alert/Article
October 28, 2014
Some creditors believe that they can only collect contractual attorney’s fees if their attorney files suit against the debtor and obtains judgment. That is not the case. Creditors do not have to file suit or obtain judgment, but they do have to hire an attorney and give the required notices....

 

HTMLCommon Bankruptcy Misconceptions        
Jeffrey D. Best Attorney at Law;
Legal Alert/Article
October 23, 2014
There are many bankruptcy misconceptions regarding the filing of bankruptcy, such as "Can I keep my home?", "Can I keep my car?", "Can I get credit after filing bankruptcy?", "Can I exclude certain creditors?" and "Can my employer fire me for filing...

 

HTMLBNY V. Romero: Important Lessons For Foreclosure Practice in New Mexico
William R. Keleher; Modrall Sperling;
Legal Alert/Article
October 23, 2014, previously published on September 23, 2014
On February 13, 2014, the New Mexico Supreme Court filed its Opinion in Bank of New York v. Romero, 2014-NMSC-007. The opinion in BNY v. Romero describes a case which started badly and ended terribly. The case grew out of an unnecessary, expensive, poorly documented loan to two small business...

 

HTMLU.S. Causes of Action and Attorney Retainer Fund Sufficient Assets for Chapter 15 Recognition
Mark G. Douglas, Pedro A. Jiménez; Jones Day;
Legal Alert/Article
October 16, 2014, previously published on September/October 2014
In December 2013, the U.S. Court of Appeals for the Second Circuit held as a matter of first impression in Drawbridge Special Opportunities Fund LP v. Barnet (In re Barnet), 737 F.3d 238 (2d Cir. 2013), that section 109(a) of the Bankruptcy Code, which requires a debtor "under this title"...

 

HTMLTaking a Stand Where Few Have Trodden: Structured Dismissal Held Clearly Authorized by the Bankruptcy Code
Mark G. Douglas, Charles M. Oellermann; Jones Day;
Legal Alert/Article
October 16, 2014, previously published on September/October 2014
A "structured dismissal" of a chapter 11 case following a sale of substantially all of the debtor's assets has become increasingly common as a way to minimize cost and maximize creditor recoveries. However, only a handful of rulings have been issued on the subject, perhaps because...

 

HTMLProposed Bankruptcy Rule and Official Form Changes
Mark G. Douglas; Jones Day;
Legal Alert/Article
October 16, 2014, previously published on September/October 2014
The Judicial Conference Advisory Committees on Appellate, Bankruptcy, Civil, and Criminal Rules have proposed amendments to their respective rules and forms and have requested that the proposals be circulated to the bench, bar, and public for comment. The public comment period closes on Tuesday,...

 

HTMLQuestioning the Executoriness of Trademark Licenses in Integrated Agreements
Mark G. Douglas, Laura L. Swanson; Jones Day;
Legal Alert/Article
October 16, 2014, previously published on September/October 2014
Protections added to the Bankruptcy Code in 1988 that give some intellectual property (“IP”) licensees the right to continued use of licensed property notwithstanding rejection of the underlying license agreement do not expressly apply to trademark licenses. As a consequence, a...

 

HTMLUniform Voidable Transactions Act Approved by Uniform Law Commission to Replace UFTA
Mark G. Douglas; Jones Day;
Legal Alert/Article
October 16, 2014, previously published on September/October 2014
On July 16, 2014, the Uniform Law Commission (the "Commission") approved a series of amendments to the Uniform Fraudulent Transfer Act (the "UFTA"), which is currently in force in 43 states (all states except Alaska, Kentucky, Louisiana, Maryland, New York, South Carolina, and...

 

HTMLArgentina—The Long-Running Dispute over the Payment of Argentina’s Sovereign Debt Has Been Particularly Active in Recent Weeks and Months.
Mark G. Douglas; Jones Day;
Legal Alert/Article
October 15, 2014, previously published on September/October 2014
On June 30, 2014, Latin America’s third-largest economy failed to make a scheduled $539 million payment to bondholders after U.S. District Court judge Thomas Griesa ruled that the payment could not be made unless holdout bondholders from restructurings in 2005 and 2010 were also paid. Under...

 

HTMLOpportunistic Acquisitions: Buying Assets Through Bankruptcy
Nicholas E. Williams; Foley & Lardner LLP;
Legal Alert/Article
October 13, 2014, previously published on October 8, 2014
Though often overlooked, bankruptcy sales can be a real boon to businesses looking for a great deal. Prospective purchasers must, of course, interface with the bankruptcy court, so these companies must understand the lay of the land when looking for a bargain.

 


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