With the recent economic turmoil, there have been rumors that the current 110th Congress may address modification of 11 U.S.C. §1322(b)(2). If not addressed by the 110th Congress in its waning days, legislation most certainly will be introduced in the 111th Congress to make primary home mortgages subject to cramdown.
![Photo of Deborah L. Thorne [1]](https://abi-org-corp.s3.amazonaws.com/committee/Authors/Thorne-Deb.jpg)
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.
A recent decision of the Bankruptcy Court for the District of Delaware (court) halted a proposed §363 sale, and this decision could significantly impact future bankruptcy sales of retail businesses holding inventory on consignment. In re Whitehall Jewelers Holdings Inc., 2008 WL 2951974 (Bankr. D. Del. July 28, 2008).
An out-of-court workout technique sometimes employed by a distressed business and its secured lender is the so-called "friendly foreclosure." By this procedure, the debtor and its secured lender arrange for a voluntary repossession of the debtor's assets by the secured lender and a pre-determined and substantially contemporaneo
An unusual joint hearing held by the U.S.
![Photo of Joshua J. Lewis [1]](https://abi-org-corp.s3.amazonaws.com/committee/Authors/ABICommitteeLogo_93.png)
Upon the filing of a bankruptcy case by a debtor, 28 U.S.C.
The U.S. Bankruptcy Court for the Eastern District of Virginia with In re Loy, No. 07-51040, 2008 WL 906503 (Bankr. E.D. Va. April 3, 2008) raises new procedural issues under chapter 15.
A recent bankruptcy decision confirms that loan servicers for a securitized trust have standing to pursue relief from the automatic stay. In re Woodberry
The recent disruptions in financial markets have caused many of our clients to assess their counterparty exposure to troubled financial institutions. This article
Bankruptcy Code §363 asset sales are becoming an increasingly attractive method employed by companies in the health care industry to monetize assets. My firm has seen the impact in our own caseload with three diagnostic imaging facilities (DIFs) we are advising recently utilizing 363 sales.
