David Poitras wrote the article “New Bankruptcy Forms Already in Use” published in the Daily Journal.
Recently, we’ve been seeing debtors try to confirm cram down plans of reorganization that are unfavorable to the secured creditor by “gerrymandering” the class of unsecured claims. The typical situation finds the secured creditor holding an undersecured loan. Under Section 506(a) of the Bankruptcy Code, the secured creditor’s claim is automatically bifurcated into a secured […]
Ben Young’s article, “Double Bogie: Bank’s Security Interest in Green Fees Cut Off by Club’s Bankruptcy,” was published by Jim Butler’s Hotel Law Blog, and picked up by Hotel Online and Hospitality Net.
A good workout professional also knows how to help the Bank make loans that are properly structured. Many of the “sad” stories we have recently experienced were the result of a huge decrease in property values, but several arose out of mistakes made in underwriting and structuring loans. Well-run institutions are taking care to be […]
Barry Freeman’s article, “Article 9 Foreclosure Sales: A Unique Approach/Safe Harbor?” was republished in Issue 3 2012 of Business Law News, a publication of The Sate Bar of California. This article was first published in the June 2012 issue of The Secured Lender, a publication of the Commercial Finance Association. Download “Article 9 Foreclosure Sales: A Unique Approach/Safe Harbor?”
Barry Freeman’s article, “Article 9 Foreclosure Sales: A Unique Approach/Safe Harbor?” was published in the June 2012 issue of The Secured Lender, a publication of the Commercial Finance Association. The article was also republished in Issue 3 2012 of Business Law News, a publication of The Sate Bar of California. Download “Article 9 Foreclosure Sales: A Unique Approach/Safe […]
Not every startup succeeds. Most persistent entrepreneurs eventually find themselves with a business that is failing or going nowhere. There’s lots of advice about starting a new business and navigating a great exit. People don’t like to talk about less successful endings. In the article, Is your startup failing? Here’s how to exit gracefully, Ben […]
Once again, my partner, Joe Demko, who handles much of our bank litigation, has a tip to pass along. This time, Joe warns about a drafting problem in a carve out from a “bad boy” guarantee. The essence of Joe’s warning is that the person drafting loan documents must consider all possible outcomes of a […]
Assignments for the Benefit of Creditors are an often overlooked procedure for liquidating a company. A good way to understand ABCs is to think of them as an out of Court Chapter 7 case. Creditors – both secured and unsecured – and debtors turn to ABCs when a company (or its assets) need to be […]
Unless you are a specialized lender who makes loans to debtors-in-possession, you do not make a loan with the expectation that your borrower is going to file bankruptcy. Although the number of bankruptcy filings in California and nationally is trending slightly lower, filings remain at higher than normal levels. Nearly every lender has received the […]