Unsecured trade creditors in mid- to large-sized chapter 11 cases are frequently targets of distressed-debt traders looking to buy unsecured claims. These traders make their money in a variety of ways, principally on the assumption that the claims they buy today will be worth more later either in the distressed-trade market or upon plan distribution.
The Tenth Circuit in Southwest Food Distributors, LLC, 561 F.3d 1106 (10th Cir. 2009), affirmed the denial of the proposed retention of “national” counsel by the committee of unsecured creditors. “While the right to select counsel of one’s own choice is an undeniable right afforded to participants in bankruptcy, that right is not without boundaries.
The “rationalization”—read, reduction—of Chrysler and GM’s dealership networks has taken center stage in their respective government-led restructurings.
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The U.S.
In In re Lane,( George Lane, et. Al v. Western Interstate Bancorp), 280 F.3d 663 (6th Cir.
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) added a new provision regarding personal property leases, §365(p), which provides:
ABI’s Health Care Triage: 2009 conference on June 26, 2009, in Chicago was a great success. Co-sponsored by the Beazley Institute for Health Law and Policy at the Loyola University Chicago Law School, the conference was the first stand-alone health care conference sponsored by ABI. The partnership between Loyola and ABI for the conference proved very fruitful.
