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ABI Blog Exchange

While the bankruptcy blogosphere patiently awaits a ruling in Bellingham, I thought I would drop in for a few brief updates on the most popular topic of 2014:  credit bidding.  I have previously written here on Fisker, and here on Free Lance-Star.  I have two updates, only one of which is actually substantive:

Read More from: Creditors' Sidebar

4 years 7 months ago
One of the fundamental tenets of a business bankruptcy reorganization plan under Chapter 11 of the Bankruptcy Code is the "absolute priority rule." This rule, codified in section 1129(b)(2)(B)(ii) of the Bankruptcy Code, provides that every unsecured creditor must be paid in full before the debtor can retain any property under a reorganization plan. Chapter 11, however, is not solely the domain of business debtors. Individuals (who more commonly seek protection under Chapters 7 and 13) may also file for Chapter 11. So how does the absolute priority rule affect individual debtors? That issue is analyzed in a recent opinion, Ice House America, LLC v. Cardin, issued by the U.S. Court of Appeals for the Sixth Circuit. Read More › Tags: 6th Circuit Court of Appeals, Chapter 11

Read More from: Michigan Bankruptcy Blog

4 years 7 months ago
While the battle over the SEC’s conflict minerals reporting rules have been the subject of much attention, less focus has fallen on the SEC’s defunct resource extraction rules. Since those rules were struck down in July 2013 as we previously discussed, the SEC has made no attempt, at least known publicly, to promulgate revised rulemaking in compliance with the Dodd-Frank statutory mandate. 
4 years 7 months ago
Courts in all states have procedures set to allow creditors to get judgments against the debtors who owe […] The post Can I Stop a Citation to Discover Assets By Filing For Bankruptcy? appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
Courts in all states have procedures set to allow creditors to get judgments against the debtors who owe […] The post Can I Stop a Citation to Discover Assets By Filing For Bankruptcy? appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
Courts in all states have procedures set to allow creditors to get judgments against the debtors who owe […] The post Can I Stop a Citation to Discover Assets By Filing For Bankruptcy? appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago

Recently, a Florida District Court discussed whether a judge should be disqualified from a case after sending a Facebook “friend” request to one of the parties.  The case, Chace v. Loisel, No. 5D13-4449, 2014 WL 258620 (Fla. 5th DCA Jan. 24, 2014), involved a marriage dissolution.  Prior to entering a judgment in the case, the … Continue reading

The post Facebook “Friend” Request places Litigant between a Rock and a Hard Place appeared first on Robins Kaplan Trial Attorneys Blog.

4 years 7 months ago
  In high school, my English teacher tasked me with memorizing and reciting a monologue from Shakespeare’s famous "Scottish Play", Macbeth. The monologue – the title character delivered it -- came from Act V, Scene 5, after Lady Macbeth’s own guilt catches up with her and takes her own life.  Although I sometimes confuse my own children’s names, I can still recall – and spout out instantly -- the lines I memorized and recited in front of the class some 42 years ago:                Tomorrow, tomorrow and tomorrow                Creeps in this petty pace from day to day                To the last syllable of recorded time                And all our yesterdays have lighted fools                The way to dusty death                Out, out brief candle!                Life is but a walking shadow,                A poor player who struts and frets     His hour upon the stage                And then is heard no more.     It is a tale told by an idiot                Full of sound and fury                Signifying nothing. The last half of the speech well prepared me to be a lawyer. There is much sound and fury (some of it from me), and much of it does signify very little, if anything at all. I have also heard many tales told by people of questionable intelligence, and I have often felt that I am a “poor player” emoting uselessly in a courtroom for my allotted time. That monologue also sometimes applies to describe decisions from higher courts. Take the case of Louis B.
4 years 7 months ago
As noted in several press reports, Pershing Square’s recent SEC filing of a preliminary proxy statement related to Allergen is an unusual maneuver in its efforts to cause a merger of the company with Valeant Pharmaceutical.   
4 years 7 months ago
There are times when a person may be found to owe another person money.  Usually one party sues […] The post Facing a Collection of a Judgment appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
There are times when a person may be found to owe another person money.  Usually one party sues […] The post Facing a Collection of a Judgment appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
There are times when a person may be found to owe another person money.  Usually one party sues […] The post Facing a Collection of a Judgment appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
The first thing someone researching chapter 13 learns is that, fundamentally, it’s a payment plan. Someone seeking chapter […] The post Payment Plan for Chapter 13 appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
The first thing someone researching chapter 13 learns is that, fundamentally, it’s a payment plan. Someone seeking chapter […] The post Payment Plan for Chapter 13 appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
The first thing someone researching chapter 13 learns is that, fundamentally, it’s a payment plan. Someone seeking chapter […] The post Payment Plan for Chapter 13 appeared first on LakeLaw.

Read More from: Lake Law Blog

4 years 7 months ago
Yesterday, without explanation, the U.S. Court of Appeals for the District of Columbia denied the National Association of Manufacturers’ emergency motion to stay the effectiveness of the SEC conflict minerals rules.   
4 years 7 months ago
Posted by Kathy Bazoian PhelpsAs reported in The Ponzi Scheme Blog, the Supreme Court recently issued an important decision further defining the boundaries of SLUSA – the Securities Litigation Uniform Standards Act of 1998. Chadbourne & Park LLP v. Troice, 2014 U.S. LEXIS 1644 (Feb. 26, 2014). Two new decisions attempt to interpret and apply Troice in other Ponzi scheme cases.In Troice, the Court determined that a class action could proceed against two law firms, an insurance brokerage firm, and a financial services firm for their alleged assistance to R. Allen Stanford and Stanford Financial in connection with Stanford’s multi-billion Ponzi scheme.

Read More from: The Ponzi Blog

4 years 7 months ago
One of the most interesting, and at times vexing, issues that arises in bankruptcy proceedings involves the jurisdiction of the bankruptcy courts. In 2011, the U.S. Supreme Court weighed in with its noteworthy decision in Stern v. Marshall, in which it held that bankruptcy courts lack the constitutional authority to enter a final judgment on a state law counterclaim that is not related to the bankruptcy proceeding. Since Stern, a number of cases have been published - at both the bankruptcy court and court of appeals level - where Stern jurisdictional issues have been raised and adjudicated. Read More › Tags: 6th Circuit Court of Appeals

Read More from: Michigan Bankruptcy Blog

4 years 7 months ago
The Chesapeake Climate Action Network (CCAN) has taken the novel approach of filing a letter with the SEC Directors at the Division of Enforcement and the Division of Corporation Finance, alleging that Dominion Midstream, a Dominion Resources affiliate, did not provide sufficient information about several environmental and related risks surrounding its Dominion Cove Point LNG Terminal export project in its registration statement filed with the SEC offering its limited partnership interests. The offering has not yet occurred. Betty Moy Huber, co-head of Davis Polk’s Environmental Group, guides us through these unique proceedings and the possible implications.
4 years 7 months ago