![Photo of James Hatfield [1]](https://abi-org-corp.s3.amazonaws.com/committee/Authors/ABICommitteeLogo_158.png)
The Supreme Court granted certiorari in Hall v.
Sites Committee
Committees
I cannot recall how many attorneys, young and old, creditor counsel or debtors I have heard stand up in open court and state with conviction that a debtor must provide “adequate protection” under 11 U.S.C.
The use of nonrecourse carve-out clauses and so-called “springing” or “bad-boy” guarantees in commercial lending is a relatively new concept. Accordingly, case law dealing with their enforceability is not very well developed. The courts that have addressed these issues have uniformly held that such lender safeguards are generally enforceable. This article analyzes these early decisions.
I am not an investment banker, so I’ve never had the benefit of really knowing what goes on in the head of one when deciding whether to take a particularly risky sell-side 363 sale engagement. But I have been through a few of these situations as an observer (or an attorney for one party or another), and, over time, I’ve seen something of a theme emerge: investment bankers underestimating—or co
One of the most significant challenges in managing a company through a restructuring, whether in or outside of chapter 11, is ensuring that critical vendors continue to provide goods and services to the company.
Representing creditors’ committees can be lucrative, and law firms often engage in competitive pitches with other firms when seeking to become creditors’ committee counsel. In order to bolster the odds of winning multi-firm “beauty contests,” many firms actively solicit votes from committee members, or if the committee is not yet formed, from the potential committee members.
The Seventh Circuit affirmed a district court’s ruling that a debtor-in-possession (DIP) lender had breached its financing agreement, barring its claim for commitment and funding fees from the DIP. [1] Although the DIP itself had also breached the agreement, that breach was not, in the court’s view, effective until after the len
Creditors share bankruptcy estate assets according to the amount and priority of their claims. The estate is comprised of the debtor’s legal and equitable interests in property as of the filing date.
Circuit City and Commissary
![Photo of William Snyder [1]](https://abi-org-corp.s3.amazonaws.com/committee/Authors/ABICommitteeLogo_42.png)
Editor’s Note: For more information about this case, please read two features by Jonathan S. Covin and David G. Gamble that were published in the July/August and October 2010 issues, respectively.
