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The “Olympics of restructuring”: Kevyn Orr Named Detroit’s EFM

Foley & Lardner LLP
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USA
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May 2 2013

Kevyn Orr, a University of Michigan Law School graduate and former partner at the law firm Jones Day, has been selected by Governor Rick Snyder as

Protections when supplying to a troubled customer

Foley & Lardner LLP
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USA
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March 25 2013

Automotive sales in North America continue to climb, and many suppliers are prospering. However, there are some companies who are struggling and who

The value of IP: concern re IP “going to China” in A123 bankruptcy

Foley & Lardner LLP
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USA
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October 28 2012

Media reports re A123 System’s bankruptcy confirm that A123s intellectual property is an important part throughout the lifecycle of a struggling company

Sunbeam products: 7th Circuit says no to Lubrizol, yes to trademark licensees in bankruptcy cases

Foley & Lardner LLP
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USA
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July 11 2012

On July 9, 2012, the United States Court of Appeals for the Seventh Circuit issued a decision in Sunbeam Products, Inc. v. Chicago American Mfg., LLC (No. 11-3920), a case that addresses the effect of a bankruptcy trustee's rejection of trademark licenses

Additional states enact NAIC model qualified financial contracts law

Foley & Lardner LLP
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USA
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August 29 2011

Several states have recently added provisions to their insurance rehabilitation and liquidation acts which address the rights of parties to certain derivatives transactions with an insurance company in the event that an order of rehabilitation or liquidation is entered against the insurer

Florida moves quickly to preserve its status as a business-friendly state

Foley & Lardner LLP
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USA
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August 2 2011

Sometimes state legislatures react slowly to judge-made law and sometimes they move swiftly to correct perceived problems created by court rulings

Solvent run-off schemes in the United States: the Rhode Island statute and current challenges

Foley & Lardner LLP
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USA
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March 21 2011

On March 16, 2011, a Rhode Island Superior Court heard arguments on whether Rhode Island's solvent restructuring statute violates the Contracts Clause of the U.S. Constitution

Third Circuit holds mortgage escrow cushion subject to bankruptcy

Foley & Lardner LLP
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USA
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December 30 2010

In In re Rodriguez, No. 09-2724 (3rd Cir. Dec 23, 2010), a three-judge panel for the Third Circuit considered whether an automatic stay under the Bankruptcy Code prevented a mortgage servicer from accounting for a pre-petition shortage on a mortgage escrow account in its post-petition calculation of the bankrupt debtors’ future monthly escrow payments

What is the "primary purpose" of a credit transaction under the Truth In Lending Act? The Third Circuit will look beyond the facade to find out

Foley & Lardner LLP
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USA
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December 19 2010

In St. Hill v. Tribeca Lending Corp., Case No. 09-2214, 2010 WL 2997724 (3rd Cir. Dec. 8, 2010), the Third Circuit showed that, in determining whether the Truth In Lending Act (TILA) applied to a credit transaction, it would look beyond obvious facts to ascertain a transaction's "primary purpose."

Florida Supreme Court rules debtor may not use single-member LLC to shield assets from judgment creditor

Foley & Lardner LLP
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USA
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June 28 2010

In a much anticipated decision, the Florida Supreme Court closed a statutory loophole that permitted debtors to use a wholly owned limited liability company (LLC) to put their assets beyond the reach of their judgment creditors

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