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Delaware Bankruptcy Court Rules that Unsecured Creditors of a Solvent Debtor Are Entitled to Post-Petition Interest at the Federal Judgment Rate, Not the Default Interest Rate

USA - January 14 2022 On December 22, 2021, Judge Mary Walrath of the Bankruptcy Court for the District of Delaware held in In re The Hertz Corp. that redemption premiums…

Thomas Curtin, Michele C. Maman, Marc Veilleux

Illinois Supreme Court Holds Challenge To GO Bonds Is Barred By Laches, But Avoids Underlying Constitutional Issues

USA - May 26 2021 On May 20, 2021, the Illinois Supreme Court finally put to rest a long-simmering challenge to the validity of around $14 billion of Illinois general…

Jed Miller, Lary Stromfeld, Ivan Loncar, Michele C. Maman, Casey Servais

To Vote or Not to Vote: Court Holds That “Out of Money” Junior Creditor Barred from Objecting to Plan

USA - March 31 2021 In re Fencepost Productions Inc. that even though an assignment of voting rights provision in a subordination agreement was not enforceable in a…

Thomas Curtin, Michele C. Maman

Second Circuit’s Lehman Flip Clause Decision Continues the Expansion of the Bankruptcy Code Safe Harbors

USA - September 2 2020 On August 11, 2020, the United States Court of Appeals for the Second Circuit affirmed lower court decisions rejecting Lehman Brothers Special…

Andrew M. Greenberg, Kathryn Borgeson, Michele C. Maman, Casey Servais, Eric Waxman

Illinois Appeals Court Reignites GO Bond Challenge

USA - August 11 2020 On August 6, 2020, an Illinois Appellate Court ruled that a petition by political activist John Tillman seeking leave to invalidate approximately $16…

Jed Miller, Lary Stromfeld, Thomas Curtin, Ivan Loncar, Michele C. Maman, Casey Servais