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Results: 1-10 of 5,999

IBNR value in US insolvencies

  • Mills & Reeve LLP
  • -
  • USA
  • -
  • February 9 2007

The State of New Jersey Appellate Court ruled that the final dividend plan (“FDP”) proposed by the liquidator for Integrity Insurance Company (“Integrity”) was invalid in part because incurred but not reported (“IBNR”) claims were improperly included in the valuation of claims by its policyholders

Claims handling costs should not be given priority over other debts of an insolvent company Centre Reinsurance International Co and others v Freakley and others

  • Mills & Reeve LLP
  • -
  • United Kingdom
  • -
  • February 9 2007

Several tort claims were made against T & N Limited (“the Insured”) arising out of its use of asbestos. As a consequence it became unlikely to be able to pay its debts

Delaware Court of Chancery rules that “deepening insolvency” is not a recognizable cause of action in Delaware

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • January 19 2007

In Trenwick America Litigation Trust v. Ernst & Young, LLP, 906 A.2d 168 (Del. Ch. 2006), the Delaware Court of Chancery definitively weighed in on the tort claim that has become known by the popular name “deepening insolvency” when it dismissed a “deepening insolvency” claim brought by a litigation trust to recover money for the benefit of the creditors of a bankrupt estate

No withholding notice: no defence to winding-up proceedings

  • Wragge & Co LLP
  • -
  • United Kingdom
  • -
  • January 23 2007

When a contractor failed to pay certain agreed invoices the sub-contractor issued a winding up petition

Significant changes to Colorado’s foreclosure laws effective January 1, 2008

  • Bryan Cave LLP
  • -
  • USA
  • -
  • December 20 2007

In 2006, the Colorado Legislature passed HB 06-1387, which produced significant changes to Colorado’s foreclosure laws

Bicycle manufacturer must repay 5.2 million of aid

  • Nabarro LLP
  • -
  • European Union, Germany
  • -
  • February 5 2007

The German Government is required by the European Commission ("Commission") to seek repayment of 5.2 million in aid from the bicycle group, Biria

Bankruptcy court orders return of over $140 million of margin payments made by hedge fund to prime broker

  • Fried Frank Harris Shriver & Jacobson LLP
  • -
  • USA
  • -
  • February 16 2007

A recent bankruptcy court decision in the Southern District of New York may raise concern among brokerage firms which execute and clear brokerage transactions for hedge funds and similar investment vehicles

Swap agreements should be netted following rejection

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 19 2007

Following the rule that swap agreements should be netted after contract termination, a New York bankruptcy court has held that such agreements also should be netted following rejection in bankruptcy

Assignments of equipment lease payment streams were loans, not sales

  • Reed Smith LLP
  • -
  • USA
  • -
  • February 19 2007

The Bankruptcy Appellate Panel of the Ninth Circuit has ruled that assignments of equipment lease payment streams were not automatically perfected

Bankruptcy lease issues: courts use two approaches

  • Gardere Wynne Sewell LLP
  • -
  • USA
  • -
  • January 16 2008

It is not uncommon for a retailer with financial problems to be past due on lease payments