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Secured Credit Committee


Post date: Friday, January 01, 2010

In September 2009, the Third Circuit issued a ruling in Wawel Savings Bank v. Jersey Tractor Trailer Training Inc. (In re Jersey Tractor Trailer Training Inc.), 580 F.3d 147 (3d Cir. 2009), that addressed significant issues that can arise in situations where competing claims to a debtor’s accounts receivable exist between a traditional lender and a factor.

Post date: Friday, January 01, 2010

The Second Circuit Court of Appeals held on Nov. 5, 2009, that a creditor was entitled to its postpetition legal fees incurred on a prepetition indemnity agreement. In affirming the lower courts, the Second Circuit explained that the Bankruptcy Code “interposes no bar to recovery.”[1]

Post date: Friday, January 01, 2010

In In re Crescent Oil Company, et al., Case No. 09-20258, pending in the U.S. Bankruptcy Court for the District of Kansas, the court entered an order approving a gifting carve-out that could provide a road map for some undersecured lenders in their dealings with unsecured creditors’ committees.

Post date: Sunday, November 01, 2009

Credit bidding, which has been used with increasing frequency as a tool for secured creditors to obtain possession of their collateral rather than receive the proceeds of a sale for consideration they view as inadequate, allows a secured creditor to set off sums owed to such secured creditor as a bid in certain sales of property of a debtor’s estate.

Post date: Sunday, November 01, 2009

Many secured lenders do not realize the risks associated with lending upon collateral involving underground storage tanks (USTs).

Post date: Wednesday, July 01, 2009

In a recent decision that caught the attention of many in the secured lending community, the U.S.

Post date: Wednesday, July 01, 2009

The recent decision of Hon. Arthur J. Gonzalez in the chapter 11 cases of Chrysler LLC and its affiliated debtors recalls the oft-repeated maxim "be careful what you wish for." In re Chrysler LLC, et al., Case No. 09-50002 (AJG) (Bankr. S.D.N.Y. April 30, 2009).

Post date: Monday, December 01, 2008

"So, I say to myself, Self, things could be worse. And, sure enough!"

Don't blame the home mortgage mess on the Bankruptcy Code.

Section 11 USC 109 excludes insurance companies and "lending institutions" from title 11. Why? Because it is regulated under some other state and/or federal law.

Deborah L. Thorne [1]
Post date: Saturday, November 01, 2008

In an effort to protect suppliers who sell goods in the days leading up to a customer's bankruptcy, Congress has, via §503(b)(9) of the Bankruptcy Code, carved out special treatment for claims made by creditors who sell and deliver goods to a debtor during the 20 days before a debtor's filing.

Post date: Wednesday, August 01, 2007

For the past year or so, regulators and investors have been eyeing the subprime-mortgage industry as spectators on an expressway might a fender bender or a flat tire. Although onlookers usually don’t know what they’re slowing down to see, it’s more often than not a harmless event, rather than a major catastrophe. Nonetheless, the viewing continues, and so do the endless commutes.


Mr. John T. Farnum, Esq.
Miles & Stockbridge PC
Washington, MD
(202) 737-9600

Ms. Michelle M. Masoner
Bryan Cave Leighton Paisner LLP
Kansas City, MO

Mr. Ian Rubenstrunk
Communications Manager
Winthrop & Weinstine, P.A.
Minneapolis, MN
(612) 604-6763

Ms. Alyson M. Fiedler, Esq.
Education Director
Ice Miller LLC
New York, NY
(212) 835-6315

Mr. James K. Donaldson
Special Projects Leader
LimNexus LLP
Washington, VA
(804) 237-8800

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