New York Law Journal | Analysis
By Corinne Ball | February 27, 2019
In her Distress Mergers and Acquisitions column, Corinne Ball discusses the decision in 'Ultra Petroleum', in which the U.S. Court of Appeals for the Fifth Circuit held that contractual make-whole damages claims arising out of a bankruptcy filing should be characterized as claims for “unmatured interest” within the meaning of §502(b)(2) of the Bankruptcy Code and therefore disallowed.
By Colby Hamilton | February 26, 2019
The federal consumer watchdog bureau filed a request in Manhattan federal court to have the law offices of Crystal Moroney produce documents the firm claims are privileged.
By Colby Hamilton | February 25, 2019
The appellate panel said the U.S. district and bankruptcy courts in Manhattan erred in finding the trustee was barred from going after the funds over extraterritoriality and comity concerns.
By Colby Hamilton | February 11, 2019
First Union Baptist Church was fighting to keep an adverse bankruptcy decision from resulting in its deed reverting to control of its creditor.
New York Law Journal | Analysis
By Carlos J. Cuevas | January 4, 2019
McKinsey is advising the FOMB on Puerto Rico's debt restructuring. After McKinsey was retained, it was revealed that McKinsey, through its affiliates, holds at least $20 million of Puerto Rico's debt. The fact that McKinsey is not disinterested has produced the appearance of a conflict of interest, which casts a specter of doubt on the legitimacy of Puerto Rico's bankruptcy case.
By Christine Simmons | January 4, 2019
About a year after Milberg signed a deal to transfer assets, the firm's leader told ex-partner Steven Schulman it would no longer pay him.
New York Law Journal | Analysis
By Adam M. Swanson | January 2, 2019
Legacy foreclosures are running up against New York's six-year foreclosure statute of limitations, CPLR §213(4). Lenders' counsel must be vigilant. Mortgages are routinely being discharged under the statute of limitations.
By Bernard D'Orazio | December 14, 2018
The technique of serving Restraining Notices to freeze accounts held in the name of third parties provides judgment creditors with a potentially powerful Judgment enforcement tool. As with anything powerful, it should be used carefully and wisely.
New York Law Journal | Analysis
By Janice Mac Avoy and Justin J. Santolli | November 26, 2018
The New York County Supreme Court's decision in 'CB Frontier v. Wilmington Trust, N.A.' to grant summary judgment holding that the floor area ratio bonus was not collateral under the mortgage surprised many in the commercial real estate community. While the decision has been appealed to the Appellate Division, the current decision raises areas of concern for lenders, and could lead borrowers (and lenders) to more closely scrutinize their existing loan documents to see if they will support a claim that a FAR bonus is not collateral under the mortgage.
New York Law Journal | Analysis
By Bruce Goldner | November 19, 2018
Unfortunately, the law on how to perfect a lien in a copyright application is foggy at best. This article sketches out pitfalls of the current process for perfecting a lien on a copyright application, and potential steps that a financier may take to help perfect and protect its investment.
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