Loose Lips Sink Ships and Other Fraudulent Conveyance Lessons - 02/28/08
Bankruptcy & Financial Restructuring
February 28, 2008
ATTORNEYS
Wendy L. Hagenau
Two recent cases involving fraudulent conveyance actions brought under section 548 of the Bankruptcy Code demonstrate the importance of words spoken and written by the parties contemporaneously with the transaction.
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Amendments to the Bankruptcy Rules Became Effective Dec. 1, 2007
Bankruptcy & Financial Restructuring
December 10, 2007
ATTORNEYS
Brian A. Kilmer
As of December 1, 2007, amendments to the Federal Rules of Bankruptcy Procedure became effective. The amendments discussed below concern commercial bankruptcy cases and serve to facilitate the efficient administration of such cases.
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Beware of Changing Credit Terms on the Eve of Your Customer's Bankruptcy - 09/25/07
Bankruptcy & Financial Restructuring
September 25, 2007
ATTORNEYS
Gwendolyn J. Godfrey
Wendy L. Hagenau
Two recently issued decisions may make it more difficult for a preference defendant to establish the ordinary course of business defense when the defendant revises credit terms with a customer having financial difficulty on the eve of the customer's bankruptcy.
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Single Asset Real Estate Cases - Enforcing the Stay May Be Difficult Under the New Bankruptcy Code - 05/10/07
Bankruptcy & Financial Restructuring
May 10, 2007
ATTORNEYS
Keith Miles Aurzada
When Congress recently amended the Federal Bankruptcy Laws, one important change made it more difficult for debtors in single asset real estate cases to maintain the automatic stay without filing a plan of reorganization or making interest payments to secured creditors.
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Loan Repayment to Bank Recovered In Bankruptcy As "Outside The Ordinary Course of Business" - 09/29/06
Bankruptcy & Financial Restructuring
September 29, 2006
When Congress recently amended the federal bankruptcy laws, one important change made it easier for creditors to assert the "ordinary course of business" defense to bankruptcy "preference" claims. At least that was the view of many commentators. However, a North Carolina bankruptcy court recently issued an opinion that seemingly makes the defense more difficult to prove.
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Sixth Circuit Denies Bankruptcy Trustee's Attempt
Bankruptcy & Financial Restructuring Group
August 14, 2006
What happens when a real estate mortgage is assigned to a purchaser but the assignment is not recorded until after the borrower files bankruptcy? A bankruptcy trustee in Kentucky claimed the mortgage assignee's security interest was subject to cancellation in bankruptcy. In fact, the bankruptcy trustee further claimed the recording of the mortgage assignment violated the Bankruptcy Code's automatic stay. Fortunately for the assignee, the Sixth Circuit Court of Appeals had a different opinion and rejected the bankruptcy trustee's arguments.
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