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Results: 1-10 of 93

Breaking the ISDA section 2(a)(III) insolvency stalemate
  • Morrison & Foerster LLP
  • USA
  • June 30 2014

On 19 June 2014, the International Swaps and Derivatives Association ("ISDA") published an amendment to the ISDA Master Agreement for use in


Buyer beware: Third Circuit confirms claims are subject to disallowance despite sale to third party
  • Morrison & Foerster LLP
  • USA
  • December 5 2013

The Third Circuit in In re KB Toys, Inc. recently affirmed a decision of the Delaware District Court, holding that trade claims are subject to


Reorganization plan qualifies for bankruptcy exception to NOL limitation rules
  • Morrison & Foerster LLP
  • USA
  • April 30 2013

In another recent private letter ruling, the IRS ruled that an ownership change pursuant to a bankruptcy reorganization plan qualified for an


Ambac seeks bankruptcy court approval of settlement with government resolving dispute arising out of tax treatment of credit default swaps
  • Morrison & Foerster LLP
  • USA
  • April 30 2013

On April 9, 2013, Ambac Financial Group, Inc. ("Ambac") submitted a proposed settlement with the United States to the U.S. Bankruptcy Court for the


Second Circuit to lenders: get your UCC filings right
  • Morrison & Foerster LLP
  • USA
  • February 5 2015

On January 21, 2015, the U.S. Court of Appeals for the Second Circuit issued an opinion regarding a mistaken UCC-3 termination statement that all loan


Stern revisited: big questions remain unresolved
  • Morrison & Foerster LLP
  • USA
  • June 19 2014

In its recent decision, Executive Benefits Insurance Agency v. Arkison (In re Bellingham Insurance Agency, Inc.),1 the Supreme Court reiterated and


Lothian Oil: Fifth Circuit recharacterizes non-insiders’ debt claim as equity
  • Morrison & Foerster LLP
  • USA
  • October 19 2011

On August 9, 2011, the United States Court of Appeals for the Fifth Circuit held that a non-insider's debt claim can be recharacterized as equity in Grossman v. Lothian Oil Inc. (In re Lothian Oil, Inc


Supreme Court resolves conflict in circuit courts regarding credit bidding
  • Morrison & Foerster LLP
  • USA
  • May 29 2012

On May 29, 2012, the United States Supreme Court resolved a split among the federal courts of appeals on an important bankruptcy issue, agreeing with arguments Morrison & Foerster advanced on behalf of Amalgamated Bank


In re TOUSA, Inc.: commercial lending and debt trading markets breathe a sigh of relief
  • Morrison & Foerster LLP
  • USA
  • February 17 2011

A degree of certainty - for the time being - has been restored for participants in the commercial lending and debt trading markets who have been tracking the appeal of a controversial 2009 fraudulent transfer decision in the TOUSA, Inc. bankruptcy case


Contemplating Chapter 11 as a “fresh start”? Consider recent developments in environmental claims liability
  • Morrison & Foerster LLP
  • USA
  • April 26 2011

When a company saddled with potential environmental liabilities seeks bankruptcy protection, the goals of Chapter 11giving the reorganized debtor a "fresh start" and fairly treating similarly situated creditorscan conflict with the goals of environmental laws, such as ensuring that the "polluter pays