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Results: 1-10 of 33

City of Detroit files Chapter 9 bankruptcy petition challenges ahead
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 19 2013

On the afternoon of July 18, 2013, the City of Detroit filed its highly anticipated petition for relief under Chapter 9 of the Bankruptcy Code in the


Court approves extension of the automatic stay in Detroit’s chapter 9
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 26 2013

On July 24, 2013, Judge Steven W. Rhodes of the Bankruptcy Court for the Eastern District of Michigan approved the City of Detroit's motion to extend


Lenders file motions to dismiss twenty-one General Growth Properties bankruptcy cases as bad-faith filings
  • Cadwalader Wickersham & Taft LLP
  • USA
  • June 4 2009

Metropolitan Insurance Company has joined ING Clarion Capital Loan Services, Inc., Wells Fargo Bank, N.A., and FRM Funding Company, Inc in requesting the Bankruptcy Court to dismiss as bad-faith filings the bankruptcy cases of twenty-one property-level CMBS borrower subsidiaries of General Growth Properties, Inc


Lehman bankruptcy court holds ISDA swap counterparty in violation of automatic staycounterparty seeks modification
  • Cadwalader Wickersham & Taft LLP
  • USA
  • September 29 2009

In a recent ruling from the bench, Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York held that Metavante Corporation’s suspension of payments under an outstanding swap agreement with Lehman Brothers Special Financing Inc. (“LBSF”) was not safe harbored, and instead violated the automatic stay of section 362(a) of the Bankruptcy Code


American Home court denies bank’s deficiency claim by accepting discounted cash flow valuation of mortgage loan portfolio subject to repurchase agreement
  • Cadwalader Wickersham & Taft LLP
  • USA
  • September 17 2009

A Delaware bankruptcy court recently delivered the first decision applying section 562 of the Bankruptcy Code to a claim based on the termination of a repurchase agreement


General Growth Properties bankruptcy court enters final order on cash collateral, cash management, and DIP financing issues
  • Cadwalader Wickersham & Taft LLP
  • USA
  • May 18 2009

Our May 11th memo entitled “General Growth Properties Bankruptcy Court Defers Final Ruling on Cash Collateral, Cash Management and DIP Financing Issues” concluded that the ultimate impact of the bankruptcy filings of General Growth Properties, Inc. and its affiliates would depend in large part on how the cash collateral and DIP Loan issues were resolved


Delaware Bankruptcy Court decision in SemCrude prohibits triangular setoff in absence of safe harbor
  • Cadwalader Wickersham & Taft LLP
  • USA
  • March 31 2009

Earlier this year, the United States Bankruptcy Court for the District of Delaware ruled that a nondebtor cannot effect a "triangular" setoff of the amounts owed between it and three affiliated debtors, even if the parties had entered into pre-petition contracts that expressly contemplated multiparty setoff


District court grants bny leave to appeal bankruptcy court’s interlocutory order in Lehman, prohibiting enforcement of ipso facto clause in swap
  • Cadwalader Wickersham & Taft LLP
  • USA
  • October 13 2010

On September 21, 2010, the United States District Court for the Southern District of New York granted BNY Corporate Trustee Services Limited leave to appeal a decision of the Bankruptcy Court in the Lehman Brothers bankruptcy case


Stern v. Marshall: how big is it?
  • Cadwalader Wickersham & Taft LLP
  • USA
  • July 14 2011

On June 23, 2011, the Supreme Court ruled 5-4, in an opinion by Chief Justice Roberts, that a Bankruptcy Judge lacked constitutional authority to issue a final ruling on state law counterclaims by a debtor against a claimant


Lehman court finds payment priority provision is unenforceable ipso facto clause, and must be part of swap for safe harbor protection
  • Cadwalader Wickersham & Taft LLP
  • USA
  • January 29 2010

On January 25, 2010, Judge James M. Peck of the United States Bankruptcy Court for the Southern District of New York ruled that provisions in a CDO indenture subordinating payments due to Lehman Brothers Special Financing Inc., as swap provider, constituted unenforceable ipso facto clauses under the facts and circumstances of this case