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National Law Journal

Justices Will Hear Major Challenge to Independence of Obama-Era Consumer Bureau

A team from Paul Weiss, led by appellate veteran Kannon Shanmugam, convinced the justices to hear a constitutional challenge to the single-director power scheme at the Consumer Financial Protection Bureau.
5 minute read

Daily Business Review

Appeals Court Revives Student Debt-Collection Dispute After Bankruptcy Discharge

The Third District Court of Appeal reversed and remanded a trial court's order granting summary judgment to borrower Delvis De Leon in a dispute with the National Collegiate Student Loan Trust. The appellate court rejected De Leon's res judicata defense premised on the trust's failure to bring a claim against him during a Chapter 7 bankruptcy proceeding.
5 minute read

New York Law Journal

'Dirt for Debt' in Bankruptcy Plans of Reorganization

The Bankruptcy Code's rules governing cram-down are complex and differ for secured and unsecured classes of creditors. This article shows how bankruptcy courts have ruled on a particular method of cram-down known as a "dirt-for-debt" plan.
8 minute read

New York Law Journal

Bankruptcy Trade Claim Market: The Dangers of Claim Trading Platforms and Automated Contracts

This article highlights legal issues that may be oversimplified in current platforms and pose significant risks to buyers and sellers. While there are additional types of claims traded in the market, this article will focus on trade claims, also known as vendor claims.
7 minute read

New York Law Journal

'In re I80 Equipment': A Matter of Reference

In her Secured Transactions column, Barbara M. Goodstein discusses a recent Seventh Circuit decision in which the court reversed the lower court and held that a UCC-1 collateral description with nothing but a cross-reference to an unattached security agreement did "sufficiently indicate" the collateral for purposes of UCC Article 9.
10 minute read

Daily Business Review

Forever 21's Bankruptcy Filing Opens Door to Redevelopment of Vacated Space

The fast fashion clothing and accessories retailer will close a third of its U.S. stores, which brokers say could make way for offices, medical marijuana facilities, esports or housing.
6 minute read

Daily Business Review

Veteran Broward Receiver Named Assignee of Shuttered Penn Dutch Market

Michael Moecker & Associates president Philip J. von Kahle was brought in by Penn Dutch Meat & Seafood Market on Tuesday to oversee the liquidation of the company's assets. The long-operating business closed after several products tested positive for listeria.
4 minute read

New York Law Journal

Mitigating Lender Risk in Constructive Fraudulent Transfer Litigation

Lenders must carefully analyze the full ramifications of how best to approach the constructive fraudulent transfer issue when it emerges in their bankruptcy case.
9 minute read

New York Law Journal

D&O Policy 'Bankruptcy Exclusion' Held To Be an Unenforceable 'Ipso Facto' Clause

This new decision is significant because lawsuits against former (and current) officers and directors of debtors commonly are brought by trustees, creditors' committees so-empowered by bankruptcy court orders, or, as here, by trusts established under plans of reorganization. Because insurance policies often are the only viable source of recovery for the claims asserted in such lawsuits, this decision potentially opens a pathway to creditor recovery in other similar matters.
8 minute read

The Legal Intelligencer

Suit Against Law Firm Over Including Unincurred Attorney Fees in Collection Notice Clears Hurdle

U.S. District Judge Richard Caputo reasoned that including unincurred attorney fees in a collection notice violated federal law by misrepresenting the amount of debt owed.
4 minute read

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