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Results: 1-10 of 2,559

Beware the credit overbid

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

The Sixth Circuit Court of Appeals held that the secured lender’s credit bid, which equaled the total debt owed on two properties but exceeded the

Asset purchaser is subject to successor liability for FLSA judgment, despite specific disclaimer of liability

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

The purchaser of a going concern (a company in default of its loan and in receivership) specifically disclaimed liability for the $500,000 settlement

Providing employees with notice of layoffs in Chapter 11 cases

  • Baker & Hostetler LLP
  • -
  • USA
  • -
  • June 11 2013

The "WARN Act" (Worker Adjustment and Retraining Notification Act) requires that larger employers provide 60 days' notice in advance of plant

A longer statute of limitations period for pursuing fraudulent transfer actions may exist

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

544(b) of the Bankruptcy Code empowers a bankruptcy trustee to avoid any transfer of an interest of the debtor in property that is voidable under

Seventh Circuit rules rejection of executory trademark license does not terminate the license, creates a split of authority

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

In a matter of first impression in the Seventh Circuit, the court held that a chapter 7 trustee’s rejection of an executory contract did not terminate

Exit lenders liable for conversion where distributions contravene credit agreement

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

A group of lenders participated in a syndicated loan. When the borrowers filed for bankruptcy, the lenders were forced to buy certain of the

Creditor defeats preference action based on ‘new value’ defense

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

As a condition to issuing a surety bond, the insurer required the insured to obtain a Letter of Credit in favor of the insurer. To obtain the LOC, the

Trustee fails to carry burden, court affirms pre-petition transfers to cover check-kiting losses not avoidable preference

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

Pre-petition, the debtor engaged in a check-kiting scheme using accounts held at two banks. As a result of the scheme, one of the banks incurred

Ninth Circuit joins majority, holds unstayed judgments not ‘bona fide dispute’

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

Judgment creditors of Georges Marciano filed an involuntary chapter 11 petition against Marciano, who appealed the state judgments before the petition

Bank loses possessory lien following turnover of funds to trustee should have sought adequate protection

  • Reed Smith LLP
  • -
  • USA
  • -
  • June 12 2013

The bank, which held a possessory lien in the deposit account of the debtor, lost its lien when it turned over the funds in the account to the trustee