By Thomas R. Califano and Rachel Ehrlich Albanese | June 8, 2018
The expense, disruption and value deterioration inherent in sustained Chapter 11 proceedings have in recent years led to faster paced cases which are often, if not prepackaged, at least pre-negotiated (or pre-arranged). Debtors and sophisticated stakeholders are increasingly using plan support agreements to provide structure to a Chapter 11 case and set forth the pre-negotiated terms of a Chapter 11 plan.
By Gregory G. Plotko and Richard J. Lee | June 8, 2018
PSAs have become a mainstay in the Chapter 11 restructuring process, and it is therefore vital for distressed investors and other creditors to have a clear understanding of the legal terms of a contemplated PSA. This article examines the language of certain key provisions typically found in a PSA, and provides a brief survey of provisions agreed to by debtors in bankruptcy proceedings.
By Michael J. Venditto | June 8, 2018
There are no absolute protections against the downside risk in any transaction. This is especially the case in cross-border transactions that span multiple jurisdictions. Nevertheless, some careful planning and drafting can improve the prospects for the outcome.
By Barbara M. Goodstein | June 6, 2018
In her Secured Transactions column, Barbara Goodstein shows how the case 'JCC Development Corp. v. Levy' can be used as a cautionary tale for attorneys who draft or review loan documents that small variations in the language of the documents can potentially lead to fatal flaws.
New York Law Journal | Analysis
By Paul R. Niehaus and Emily B. Kirsch | May 10, 2018
Recent developments in the Second Circuit's interpretation of the Fair Debt Collections Practices Act have undermined the security of the safe harbor previously established by the court, and have created a situation whereby almost any debt collection letter is susceptible to claims that it violates FDCPA. Fortunately, the Second Circuit has ample opportunity to rectify the current situation and provide clear rules for all parties.
New York Law Journal | Analysis
By Corinne Ball | April 25, 2018
In her Distress Mergers and Acquisitions column, Corinne Ball writes: In 'In re Transwest Resort Properties', the Ninth Circuit expressly rejected the “per debtor” interpretation of §1129(a)(10) in favor of a “per plan” approach.
By Colby Hamilton | April 9, 2018
Citing the U.S. Supreme Court and its own decisions, the panel Monday again sent back down a suit Southern District Judge Katherine Forrest has twice now attempted to close out.
New York Law Journal | Analysis
By Barbara M. Goodstein | April 4, 2018
In her Secured Transactions column, Barbara M. Goodstein writes: The changes in law arising from the Great Recession were certainly considerable. But it may come as a surprise to many that as much as 10 years later court decisions continue to emerge from those turbulent times.
New York Law Journal | Commentary
By Thomas F. Whelan, J.S.C. | March 29, 2018
The economic crisis of 2008 is over. All indicators show that the national economy is humming along. Yet, Long Island is currently mired in an foreclosure epidemic that shows little, if any signs of easing.
By Roy Strom | March 26, 2018
Steven Reisman, co-chair of the restructuring and insolvency group at Curtis, Mallet-Prevost, Colt & Mosle, is leading a five-lawyer team heading to Katten Muchin Rosenman in New York.
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