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A second home run? Post-petition interest claims against certain lehman entities may be a multiple of the underlying derivative claims’ face amount

USA - March 24 2015 Creditors with allowed claims against Lehman Brothers OTC Derivatives Inc. ("LOTC") and Lehman Brothers Commercial Corporation ("LBCC") have already...

Gregory G. Plotko, Fabien Carruzzo, Thomas T. Janover.

Second Circuit in AMR Corp. “no make-whole” based on plain meaning of indentures and discusses consequences of section 1110 payments

USA - October 11 2013 Make-whole provisions occupy considerable attention in bankruptcy cases because they address the extent of a creditor’s claim and, when the claim is...

Stay here Second Circuit in Residential Capital holds automatic stay can be applied to non-debtors where action has an immediate adverse economic consequence for estate

USA - August 21 2013 While the automatic stay bars actions directly against a debtor and its property, there are instances when actions against non-debtor third parties...

Tarnishing the debtor’s Halo police power exemption applied to private actions

USA - June 26 2012 The reach of regulatory oversight over bankrupt entities has become blurred in recent years, especially following some of the decisions in Chrysler and General Motors cases that limited the states’ police powers when actions were brought that could benefit private parties....

Giving credit when due -- Supreme Court denied confirmation of Chapter 11 plan that precludes credit bidding

USA - June 1 2012 In a unanimous decision (with Justice Kennedy not participating), the Supreme Court issued a decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank, 2012 WL 1912197 (U.S. May 29, 2012), in which it held that section 1129(b)(2)(A) of the Bankruptcy Code does not permit a debtor to “cram down” a plan of reorganization that provides for the sale of encumbered assets free and clear of liens at auction without permitting the lienholder to credit bid at such auction....