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Results: 1-10 of 45

GGP opinion leaves unanswered questions

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • August 28 2009

On August 11, the Honorable Allan L. Gropper issued an opinion of the U.S. Bankruptcy Court for the Southern District of New York denying five motions to dismiss certain Chapter 11 bankruptcy cases of several property-specific special purpose subsidiaries (SPE Debtors), including a number of issuers of commercial mortgage-backed securities (CMBS), that are owned by mall operator General Growth Properties, Inc. (GGP

Lehman requests bar date for creditor claims

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • June 5 2009

On May 26, Lehman Brothers Holdings Inc. (LBHI) filed a motion requesting the U.S. Bankruptcy Court for the Southern District of New York to establish August 24 as the deadline for filing proofs of claim against LBHI and its affiliates, and to establish a procedure for such filing, including a required form to be completed online relating to derivatives claims, and a new proof of claim form specific to this case

FSA takes bankruptcy proceedings against UK lawyer

  • Katten Muchin Rosenman LLP
  • -
  • United Kingdom
  • -
  • March 30 2007

In proceedings commenced by the Financial Services Authority (FSA), the UK High Court ruled in December 2004 that Adrian Sam & Co (ASC) and John Martin, one of ASC’s two partners, were knowingly involved in the UK activities of an illegal overseas investment firm (a boiler room) and they were ordered to pay £360,000 (approximately $700,000) to 63 investors involved in the boiler room scam

Motion to dismiss claims against former officers and directors denied

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 6 2007

The District Court sustained claims of breach of fiduciary duty, fraud and deepening insolvency asserted by the successor-in-interest to the Committee of Unsecured Creditors of DVI, a defunct company, against DVI’s former officers and directors

Non-parties enjoined from filing bankruptcy petitions against entities in receivership

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • January 9 2009

The Securities and Exchange Commission brought an action against several individuals and related investment entities (the Wextrust Entities) who allegedly participated in a Ponzi scheme that purportedly defrauded over 1,000 investors of approximately $255 million

UK Financial Services Authority (FSA) uses wind up power

  • Katten Muchin Rosenman LLP
  • -
  • United Kingdom
  • -
  • March 9 2007

In a decision handed down on February 23, the High Court granted a winding-up petition brought by the Financial Services Authority under section 367 of the Financial Services and Markets Act 2000 (FSMA

Commingling of identities held insufficient to pierce corporate veil

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 20 2009

The United States Bankruptcy Court for the Middle District of Pennsylvania recently found that a bankruptcy trustee could not either pierce the corporate veil of a limited liability company to reach the owners of the LLC, nor could the trustee "reverse-pierce" the corporate veil of the owners of the LLC to reach a separate restaurant business that they owned

West Coast Life adds claims to stranger-owned life insurance complaint

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 20 2009

On March 12, West Coast Life Insurance Co. added civil conspiracy and several violations of Florida law to a complaint alleging that an investment company, several insurance brokers and individual policyholders engaged in an illegal stranger-owned life insurance (STOLI) scheme

Deadline established to assert claims against Lehman Brothers

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • July 10 2009

The court overseeing the chapter 11 bankruptcy cases of Lehman Brothers Holdings Inc. and various subsidiaries (the “Debtors”), has entered an order establishing deadlines and procedures for filing claims against the Debtors

The business litigator

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • April 21 2009

After a relatively brief and checkered stint in Delaware courts, it appears that the cause of action against corporate directors for "deepening insolvency" may have lost its place in Delaware corporate jurisprudence