As discussed in an earlier post called "On The Rise: Bankruptcy Dollar Amounts Will Increase On April 1, 2010," various dollar amounts in the Bankruptcy Code and related statutory provisions were increased for cases filed on or after April 1, 2010. Now several official bankruptcy forms have been revised to reflect these new dollar amounts.
Chapter 11
Winter 2010 Edition Of Bankruptcy Resource Now Available
The Winter 2010 edition of the Absolute Priority newsletter, published by the Cooley Godward Kronish LLP Bankruptcy & Restructuring group, of which I am a member, has just been released. The newsletter gives updates on current developments and trends in the bankruptcy and workout area. Follow the links in this sentence to access a copy of the newsletter or to…
On The Rise: Bankruptcy Dollar Amounts Will Increase On April 1, 2010
It hasn’t gotten much publicity yet, but certain dollar amounts in the Bankruptcy Code will be increased for cases filed on or after April 1, 2010. You can find a chart listing all of the changes on this Federal Register page, which printed last month’s official notice from the Judicial Conference of the United…
Who’s SARE Now? Bankruptcy’s Single Asset Real Estate Rules And Their Impact On Commercial Real Estate
Given the state of commercial real estate, the prospect for defaults by commercial borrowers has greatly increased. The last time there was a significant downturn in the commercial real estate sector in the early 1990s, owners of buildings and other real estate often turned to Chapter 11 bankruptcy as a method of buying time and, in some cases, lowering…
Two More Decisions Issued On Whether Bankruptcy Rule 2019 Requires Informal Groups To Disclose Their Trades
The First Two Delaware Decisions. In the past two months, I have reported on decisions by two Delaware bankruptcy judges in the In re Washington Mutual, Inc. case and in In re Premier International Holdings, Inc. (aka, the Six Flags case), taking opposing views on whether Federal Rule of Bankruptcy Procedure 2019…
With Revisions To Bankruptcy Rule 2019 Under Review, A Second Delaware Bankruptcy Decision Goes The Other Way On Whether The Rule Requires Informal Committees To Disclose Their Trades
Last month, I reported on a decision from Delaware Bankruptcy Judge Mary Walrath in the In re Washington Mutual, Inc. case ("WaMu") holding that informal creditor groups must disclose details of their trades under Federal Rule of Bankruptcy Procedure 2019. The WaMu ruling, a first from Delaware, came nearly three years after rulings from the Southern…
The Return Of The Rule 2019 Question: Delaware Bankruptcy Court Weighs In On Whether Creditor Groups Must Disclose Trading Data
It’s been a few years since decisions from the United States Bankruptcy Courts for the Southern District of New York, and later from the Southern District of Texas, examined whether hedge funds and other investors could be required to disclose the details of their trades when they form an ad hoc committee or group in…
Second Circuit Decides Whether Unsecured Creditors Can Recover Post-Petition Attorney’s Fees
On November 5, 2009, the U.S. Court of Appeals for the Second Circuit became the second court of appeals to answer the question left open in the U.S. Supreme Court’s March 2007 decision in Travelers Casualty & Surety Co. of America v. Pacific Gas & Electric Co., 549 U.S. 443 (2007): Can unsecured creditors…
A Matter Of Time: Important Amendments To The Bankruptcy Rules Are Coming December 1st
Nearly every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. Normally, the changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. This year, the amendments to the national bankruptcy rules are mainly…
Major Amendments To The CCAA, Canada’s Reorganization Law, Are Now In Force
In a post last year entitled "North Of The Border: Reorganization Under Canada’s Companies’ Creditors Arrangement Act," I discussed the various types of bankruptcy and insolvency proceedings available under Canadian law. Included in the discussion was the Companies’ Creditors Arrangement Act, known as the CCAA, used by many Canadian companies to reorganize. At that…