Highlights from the National Conference of Bankruptcy Judges Day 1

I am attending the National Conference of Bankruptcy Judges meeting in New Orleans this week. Here are some highlights. Lawrence P. King Award The Commercial Law League of America presented the Lawrence P. King Award to Judge Burton Lifland from the Southern District of New York. In his acceptance...

Take Me to the River (Road): The Seventh Circuit Prepares to Weigh In On Credit Bidding

The U.S. Court of Appeals for the Seventh Circuit has taken under advisement the latest case involving the now contentious issue of credit bidding. Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois last year refused to permit the debtors in In re River...

Cadwalader Restructuring Review, June 2010

Philly News: Third Circuit Upholds Bidding Procedures Denying Lenders Opportunity to Credit Bid By Douglas S. Mintz, Leslie Chervokas and Mark Arinci The Third Circuit Court of Appeals recently affirmed the District Court's ruling in In re Philadelphia Newspapers, LLC . The Court allowed Philadelphia...

So This Is Why Judges Bother to Write Dissenting Opinions -- Seventh Circuit Decision on Credit Bidding Vindicates Judge Ambro's Philadelphia Newspapers Dissent

Critics of last year's decision on credit bidding by the Third Circuit Court of Appeals in the Philadelphia Newspapers chapter 11 case welcomed the Seventh Circuit's recent unanimous opinion in River Road Hotel Partners LLC . The Seventh Circuit expressly adopted the Judge Tom Ambro's...

Does a Single "Or" Excommunicate Congressional Intent From the Bankruptcy Code? Supreme Court to Resolve Circuit Split on Credit Bidding

The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. Amalgamated Bank on whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing the secured lender an opportunity to credit bid its debt. Determination of this question will...