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Results: 1-10 of 33

Fifth Circuit upholds “absurd” cramdown interest rate

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • March 20 2013

The U.S. Court of Appeals for the Fifth Circuit held on March 1, 2013, that a bankruptcy court had not erred in applying a prime plus 1.75 percent

Secured lender’s full credit bid barred later recovery from guarantors

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • March 6 2013

The U.S. Court of Appeals for the Fifth Circuit held on Feb. 28, 2013, that a secured lender's full credit bid for a Chapter 11 debtor's assets at a

Seventh Circuit extends competition rule to insider in new-value reorganization plan

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • February 20 2013

The U.S. Court of Appeals for the Seventh Circuit, on Feb. 14, 2013, held that an insider of a Chapter 11 partnership debtor cannot avoid the

Lehman claims update: LBI and LBIE announce agreement in principle to resolve all claims

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • October 5 2012

The SIPC Trustee for Lehman Brothers Inc. ("LBI") and the Joint Administrator of Lehman Brothers International (Europe) ("LBIE") today announced an agreement in principle to resolve all claims, approximately $38 billion in the aggregate, between their respective entities

Supreme Court affirms secured creditors’ credit bid rights under plan

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • June 1 2012

The United States Supreme Court unanimously held that secured creditors have a statutory right to credit bid their debt at an asset sale conducted under a so-called "cramdown" plan

District Court upholds future claimants’ due process rights against broad releases in Section 363 sale order

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • April 5 2012

The United States District Court for the Southern District of New York (the "District Court") on March 29, 2012 held that a bankruptcy court sale order issued under Section 363 of the Bankruptcy Code ("Section 363") could not extinguish state law successor liability personal injury claims brought against the purchaser by third parties injured after the close of the bankruptcy case, but whose injuries arose out of conduct of the debtor prior to its bankruptcy

Bankruptcy court approves plan to liquidate CDO

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • January 19 2012

On Dec. 21, 2011, the U.S. Bankruptcy Court for the District of New Jersey approved a liquidation plan for collateralized-debt obligation issuer (“CDO”) Zais Investment Grade Limited VII (“ZING VII”

UK Special Administration Regime

  • Schulte Roth & Zabel LLP
  • -
  • United Kingdom
  • -
  • November 3 2011

The UK Financial Services Authority (“FSA”) confirmed on 31 Oct. 2011 that MF Global UK Limited (“MF Global UK”) will be subject to the new Special Administration Regime (“SAR”

Zais Investment Grade Limited VII CDO noteholders take advantage of Chapter 11

  • Schulte Roth & Zabel LLP
  • -
  • Cayman Islands, USA
  • -
  • October 3 2011

The U.S. Bankruptcy Court for the District of New Jersey recently held that a Cayman Islands collateralized-debt obligation issuer (“CDO”) could be a debtor under Chapter 11 of the U.S. Bankruptcy Code (the “Bankruptcy Code”) and declined to dismiss an involuntary case commenced against the CDO by certain noteholders on the grounds that the notes held by such noteholders were “non-recourse” notes

Fifth Circuit shows reorganization investors how to get and keep an expense reimbursement order

  • Schulte Roth & Zabel LLP
  • -
  • USA
  • -
  • September 9 2011

The U.S. Court of Appeals for the Fifth Circuit, on Aug. 16, 2011, affirmed the lower court’s decision authorizing reimbursement of expenses to qualified bidders for a reorganization debtor’s assets