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Ruling Protects Secured Creditors' Rights
When a Chapter 11 debtor proposes to sell secured assets prior to confirmation of a plan, it may not do so without providing its secured creditor with the right to "credit-bid" for the assets. 11 U.S.C. §363(k). "Credit-bid" in this context means bidding for the assets by a credit of up to the full amount of the secured creditor's claim, even when the value of its collateral is worth less, and notwithstanding the general rule in bankruptcy that an allowed secured claim is limited to that value.
Shaya B. Pacific LLC, appellant v. Wilson, Elser, Moskowitz, Edelman & Dicker LLP, respondent
Insurance Defense Firm Could Face Malpractice Liability for Failing to Probe Excess Coverage
'Fluctuating Workweeks' Can Affect Overtime Pay
Two recent decisions by Connecticut courts illustrate both the utility and some of the limitations of using the "fluctuating workweek method" to calculate the overtime pay for non-exempt employees who work more than 40 hours in a workweek.Bankruptcy Court Rejects Forum-Shopping Ploy
It has become a reality of bankruptcy practice that most large or complex Chapter 11 cases are filed and administered in one of two so-called "magnet districts" — Delaware or the Southern District of New York (Manhattan) — irrespective of the location of the debtor's principal place of business, principal assets, creditors or employees.Restoring The Foundation: Assessing Construction In Progress
This supplements the article published on March 5, 2012 entitled "Changing the Foundation: Assessing Construction in Progress." The last article presented an extensive history of the assessing of construction in progress by municipalities for property tax purposes, the tumultuous changes occurring in the law, and the numerous questions to be addressed. This article serves to answer some of those questions and leave you with a couple more.Modern Communities Designed To Recreate Feel Of Traditional Villages
Did your grandparents ever regale you with stories of their youth, living in a village where most things were within walking distance? Or maybe you grew up in such a place yourself. Though small town life still exists in many places, the growth of the post-World War II suburbs means that a great many people did not grow up in a walkable village and probably do not live in one now.
Estate Planning For Digital Assets
While technology can simplify our lives while we're living, it can complicate things significantly when we become ill, incapacitated, or die.ADR: 10 Tips For A Successful Mediation
If counsel and client conclude that mediation is an appropriate method of resolving their dispute there are a number of basic planning and organizational steps that will enhance the possibility that both client and counsel will view the process as fair and reasonable.
FORECAST 2013: Reading The Tea Leaves In Employment Law
So, last year, I brought out my trusted Magic 8-Ball to make my 2012 predictions. Looking back on those predictions, it did pretty well. It's only flaw was suggesting that new National Labor Relations Board notice rules would go into effect in 2012; a court injunction prevented that from happening.The Do's And Don'ts Of Attorney Advertising In Connecticut
Since July 1, 2007, the Statewide Grievance Committee has had two principal ways to address concerns about attorney advertising.Trending Stories
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