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Search Results (1633) Documents on bankruptcy Show: results per page Sort by:  | True Sale or Not - The Nature of the Factoring Agreement
Phoebe Lo, John M. Marsden, Sally P. H. Mui; Mayer Brown JSM;
Legal Alert/Article February 20, 2012, previously published on February 17, 2012 Did you know... it has been argued that a factoring arrangement over invoices of a company could be challenged as a charge over book debts and thus is void against liquidators of the company unless registered under section 80 of the Companies Ordinance.
|  | Gary’s Exit Plan - Up In Smoke With His Perishable Business Model
Nicholas K. Niemann; McGrath North Mullin & Kratz, PC LLO;
Legal Alert/Article February 15, 2012, previously published on February 2012 I had just returned from presenting my “Break It And Make It” business model workshop to three CEO groups in Winnipeg when Gary came to visit with me. Fifteen years earlier he had gone “all in” by converting his commercial real estate business and becoming one of Blockbuster...
| | Secured Creditors Beware: Crown GST/HST Garnishment May Trump Your Security Interest in an Account Receivable
Roger Jaipargas, Sam Rappos; Borden Ladner Gervais LLP;
Legal Alert/Article February 15, 2012, previously published on February 2012 In the recent decision of the Supreme Court of Canada in Toronto-Dominion Bank and Her Majesty the Queen (2012 SCC 1), the Supreme Court succinctly agreed with the reasons of Justice Noël of the Federal Court of Appeal. Justice Noël, writing on behalf of a unanimous Court, held that, upon...
| | Commercial Division Clarifies Limits of Choice of Law Provision in Indentures
Sarah E. Aberg; Sheppard, Mullin, Richter & Hampton LLP;
Legal Alert/Article February 14, 2012, previously published on February 13, 2012 In the recent matter Wilmington Trust Natl. Assn. v. Vitro Automotriz, Index No. 652303/11 (N.Y. Sup. Dec. 5, 2011), Justice Bernard J. Fried of the Commercial Division addressed the obligations of guarantors of indentured notes. Regardless that the issuer of the notes had declared bankruptcy in...
| | Changes to the German Insolvency Code - A New Frontier for Restructurings
Hamish Anderson, Oliver Anderson, Nadine Bourgeois, Carl Werner; Norton Rose Canada LLP;
Legal Alert/Article February 13, 2012, previously published on February 2012 For many years the German Insolvency Code has been criticised for its inflexibility and rigidity in relation to corporate restructurings. As such it has often been remarked that, in contrast to the US and the UK, German insolvency laws do not provide sufficient scope for distressed companies to...
| | $25 Billion Foreclosure Settlement Announced with the Nation’s Five Largest Mortgage Services Providers
Ryan L. DiClemente, Francis X. Riley; Saul Ewing LLP;
Legal Alert/Article February 13, 2012, previously published on February 2012 On February 9, 2012, federal and state officials announced a $25 billion foreclosure settlement with the nation’s five largest mortgage services providers: Bank of America, JPMorgan Chase & Co., Wells Fargo & Company, Citigroup Inc. and Ally Financial Inc. The settlement agreement is...
| | Third Circuit Reaffirms Viability of Deepening Insolvency Claim
Nancy Chu; Jones Day;
Legal Alert/Article February 10, 2012, previously published on January/February 2012 In Official Committee of Unsecured Creditors v. Baldwin (In re Lemington Home for the Aged), 659 F.3d 282 (3d Cir. 2011), the Third Circuit Court of Appeals held, among other things, that the “deepening insolvency” cause of action, which the Third Circuit previously recognized in...
| | Seventh Circuit Holds that Treasury Bonds are Riskier than Real Estate and Cannot Provide the Indubitable Equivalence of a Claim
Kevin P. Garland, Michael H. Goldstein; Greenberg Traurig, LLP;
Legal Alert/Article February 10, 2012, previously published on February 2012 Taking the lead from its recent decision in In re River Road Hotel Partners, in In re River East Plaza, LLC, the Seventh Circuit held that a debtor cannot avoid the lien retention prong of Section 1129(b)(2)(A)(i) by transferring an undersecured creditor’s lien to substitute collateral as...
| | New Bankruptcy Rules Require Additional Documentation and Notification from Mortgage Holders and Servicers in Individual Debtor and Chapter 13 Cases
Jason W. Harbour, Thomas Y. Hiner, Michael Nedzbala, Justin F. Paget, Peter Stone Partee, J. R. Smith; Hunton & Williams LLP;
Legal Alert/Article February 9, 2012, previously published on February 2012 Bankruptcy Rule changes, effective December 1, 2011, require mortgage holders and servicers to include additional documentation supporting proofs of claim filed in individual debtor cases. Mortgage holders and servicers must follow these rules or face sanctions and potential loss of the right to...
| | CFTC Adopts Final Rules Governing Protection of Cleared Swaps Customer Contracts and Collateral
Maureen A. Donley, Brian Duncan, Timothy S. Kearns, Mark D. Young; Skadden Arps Slate Meagher Flom LLP;
Legal Alert/Article February 8, 2012, previously published on February 7, 2012 Today, the Commodity Futures Trading Commission (CFTC) published in the Federal Register new requirements for futures commission merchants (FCMs) and derivatives clearing organizations (DCOs) when handling customer collateral pledged as margin for cleared swaps. The rules, adopted by a 4-1 vote,...
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