The Bankruptcy Code often instructs a trustee or debtor to perform an act or make an election within a certain time. Sometimes the relevant provisions are intended to benefit a party in interest who is affected by a debtor’s or trustee’s action or election. Unfortunately, some of the provisions that prescribe a trustee or debtor […]
Read MoreIn In re Hungry Horse, LLC, Adversary Proceeding No. 16-11222 (Bankr. D. N.M. September 20, 2017) (“Hungry Horse”), the New Mexico Bankruptcy Court reminded us that many U.S. Supreme Court opinions can be limited in scope and do not necessarily dispose of all potential remedies to an issue. The issue in Hungry Horse—as in many […]
Read MoreIn In re NewPage Corporation, et al., Adversary Proceeding No. 13-52429 (Bankr. D. Del. Feb. 13, 2017), a Delaware Bankruptcy Court applied a unique defense to certain preferential transfers targeted by a liquidating trustee. The defense focuses on a commonly overlooked element of a preferential transfer, section 547(b)(5). Preference 101 Attempting to facilitate the principle […]
Read MoreState and federal laws provide numerous protections to secured parties to preserve their interests in collateral. As secured parties well know, however, these protections become more and more limited when the collateral is pledged to multiple secured parties. Issues, like priority of interests and liens, become more prevalent when the collateral at issue falls in value and […]
Read MoreAs predicted at the Commercial Finance Association’s Fourth Annual Energy Summit on September 16th, we should start seeing more and more oil & gas companies struggle to survive in the wake of continued low commodity pricing. While we witnessed some rebound in pricing towards the end of the summer, the price of oil again dipped […]
Read MoreThe retail industry appears to be reaching the crossroads of complete transformation due to a significant shift in consumer sentiment. Those companies that can embrace the change quickly enough will likely survive. Those that cannot may simply become legends. Indeed, we have seen well-known companies such as RadioShack, Brookstone, Frederick’s of Hollywood, dELiA*s, Cache, ALCO Stores, […]
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