Author Archives
Partner at FisherBroyles, LLP
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Illinois Court Holds Standby Clause Precludes Discovery by Subordinated Lender
In In re Argon Credit, LLC, et al., Case No. 16-39654 (Bankr. N.D. Ill. Jan. 10, 2019), the United States Bankruptcy Court for the Northern District of Illinois recently held that a standby clause in a subordination agreement prevented a subordinated lender… Read More ›
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Retailers Beware: Santa Claus is Making a Come Back
Many of us were raised to believe that Santa Claus delivers our gifts before we wake up on Christmas Day. If you believe, behave, and send your wish list on time, you are virtually certain to receive what you want… Read More ›
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Court Denies AMR Union’s Rejection Damages Claims After Abrogation of Collective Bargaining Agreements
In November 2011, AMR Corporation, the parent of American Airlines, filed chapter 11 in the United States Bankruptcy Court for the Southern District of New York. Through the bankruptcy, which was hugely successful, AMR was able to shed billions of dollars… Read More ›
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California Court Grants Relief from Stay to Allow Foreclosure of Marina
The Bankruptcy Court for the Northern District of California recently granted a secured lender’s request for relief from the automatic stay, pursuant to sections 362(d)(1) and (d)(2) of the Bankruptcy Code, to allow a trustee’s sale of the debtor’s marina… Read More ›
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Creditors with Partially Disputed Claims Have Standing to File an Involuntary Bankruptcy
Section 303 of the Bankruptcy Code provides a unique remedy to unsecured creditors seeking to collect their debts against an insolvent entity. A careful look at this remedy is contained in an earlier post, entitled Creditors’ Strategic Use of Involuntary Bankruptcy. … Read More ›
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Houston-Based Parker Drilling Company Files Pre-Negotiated Bankruptcy
On December 12, 2018, Parker Drilling Company and its subsidiaries (“Debtors”), oilfield service companies headquartered in Houston, filed pre-negotiated chapter 11 cases in the United Stated Bankruptcy Court for the Southern District of Texas. The Honorable Marvin Isgur is presiding over… Read More ›