Ninth Circuit widens circuit split over application of state or federal bankruptcy law to determine whether claims of insider-lenders should be recharacterized as equity *

USA - May 3 2013
In an important decision for private equity sponsors and other insiders who advance loans to their businesses, on April 30, 2013, the Ninth Circuit…

Co-authors: Stephen Moeller-Sally, Mark I. Bane , James M. Wilton.

Secured lender's large makewhole claim upheld by Delaware Bankruptcy Court *

USA - April 25 2013
The United States Bankruptcy Court for the District of Delaware recently upheld a secured lender's claim for a $23.5 million "makewhole" premium (the…

Co-authors: Mark I. Bane , Mark R. Somerstein .

WaMu court allows equity committee to pursue “equitable disallowance” of noteholder claims based on allegations of insider trading *

USA - September 22 2011
On September 13, 2011, Judge Mary F. Walrath of the United States Bankruptcy Court for the District of Delaware granted standing for an equity committee in In re Washington Mutual, Inc. (“WaMu”) to seek “equitable disallowance” of claims held by noteholders that had traded claims after engaging in negotiations with WaMu over the terms of a global restructuring.

Co-authors: Mark I. Bane , D. Ross Martin, Keith H. Wofford.

Revised form of Rule 2019 eliminates purchase price disclosures by committee members *

USA - May 11 2011
In chapter 11 bankruptcy cases, creditors and equity holders with common interests often find it advantageous to pool resources and form an ad hoc group or committee.

Co-authors: Mark I. Bane .