Bankruptcy

Recent Posts

A Chicago Bankruptcy Case Lands at the US Supreme Court: The RadLAX Oral Argument - Part I
Posted on 24 Apr 2012 by Steve Jakubowski

Chicago bankruptcy professionals descended on the US Supreme Court to catch the final chapter in the RadLAX bankruptcy saga, one that had a remarkably swift journey to the highest court of the land. The case started as the neglected stepchild of Amalgamated... Read More

Loan to Moan? Judge Limits Right to Credit Bid in Chapter 11 Case of Free Lance-Star Publishing Co.
Posted on 22 Apr 2014 by Kelley Drye & Warren LLP

by Ben Feder A few months ago, a ruling in the Chapter 11 case of Fisker Automotive narrowed a secured creditor’s right to credit bid its debt in connection with a sale of the debtor’s assets. The decision surprised many observers and resurrected... Read More

A Secured Creditor's Absolute Legal Right to Credit Bid (Part 2)
Posted on 5 Aug 2011 by James Lawniczak

James Lawniczak considers the circuit split over whether a secured creditor has an absolute right to credit bid when its collateral is being sold through a chapter 11 reorganization plan. Looking in detail at the Seventh Circuit's decision in River... Read More

Take Me to the River (Road): The Seventh Circuit Prepares to Weigh In On Credit Bidding
Posted on 2 May 2011 by Kelley Drye & Warren LLP

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... Read More

Secured Lenders 101 - A Basic Review with Ancela Nastasi
Posted on 7 Jun 2011 by LexisNexis Bankruptcy Law Community Staff

On this edition, Ancela Nastasi, partner in the Restructuring and Bankruptcy Group at Richards Kibbe & Orbe LLP, explains "secured lender," intercreditor agreements, credit bidding, loan to own strategies and cram-down. Copyright© 2010... Read More

A Preview of the Supreme Court's Decision in RadLAX Gateway Hotel, LLC v. Amalgamated Bank
Posted on 17 Apr 2012 by Kenneth Klee

Professor Kenneth Klee previews the issues that the U.S. Supreme Court will be addressing in the RadLAX Gateway Hotel decision, most specifically whether creditors holding liens on auctioned assets have the right to credit bid their claims at the auction... Read More

None Too Appealing – District Court Turns Aside Free Lance-Star Publishing Credit Bid Lender
Posted on 28 May 2014 by Kelley Drye & Warren LLP

by Ben Feder A recent ruling in the Chapter 11 case of Free Lance-Star Publishing limited the credit bidding rights of a secured creditor . The ruling has called into question the ability of the holder of secured debt to utilize such debt to acquire... Read More

Supreme Court Indubitably Grapples With Credit Bidding
Posted on 27 Apr 2012 by Kelley Drye & Warren LLP

The Supreme Court heard arguments yesterday in RadLAX Gateway Hotel over whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing its secured lenders an opportunity to credit bid their debt. ... Read More

Highlights from the National Conference of Bankruptcy Judges Day 1
Posted on 18 Oct 2010 by Stephen Sather

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... Read More

In re Philadelphia Newspapers, LLC, 2010 U.S. App. LEXIS 5805 (3d Cir. Mar. 22, 2010)
Posted on 28 Apr 2010 by Paul H. Zumbro & Robert H. Trust

Authors from Cravath, Swaine & Moore consider the Third Circuit's decision in In re Philadelphia Newspapers. This decision, along with the decision in In re Pacific Lumber, marks a significant departure from long-held expectations of secured... Read More

Does a Single "Or" Excommunicate Congressional Intent From the Bankruptcy Code? Supreme Court to Resolve Circuit Split on Credit Bidding
Posted on 3 Jan 2012 by Kelley Drye & Warren LLP

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... Read More

LexisNexis® Bankruptcy Law Community Podcast: Kenneth Klee and Ancela Nastasi on the U.S. Supreme Court's decision in RadLAX Gateway Hotel LLC v. Amalgamated Bank.
Posted on 15 Aug 2012 by LexisNexis Bankruptcy Law Community Staff

On this edition, Ancela Nastasi of Fulbright & Jaworski and Kenneth Klee of Klee, Tuchin, Bogdanoff & Stern discuss the May 29, 2012 U.S. Supreme Court decision in RadLAX Gateway Hotel LLC v. Amalgamated Bank in which the court held that a secured... Read More

U.S. Supreme Court: U.S. Solicitor General May Take Part In RadLAX Arguments
Posted on 2 Apr 2012 by James Cordrey

WASHINGTON, D.C. - The U.S. Supreme Court on April 2 granted the U.S. solicitor general leave to participate in oral arguments in a case in which a creditor bank argues that the Bankruptcy Code precludes confirmation of a hotel chain's Chapter... Read More

High Court: Debtor May Not Sell Property Free Of Lien; Must Allow Credit-Bidding
Posted on 30 May 2012 by James Cordrey

WASHINGTON, D.C. - The U.S.Supreme Court today affirmed that a debtor company may not obtain confirmation of a nonconsensual Chapter 11 plan that permits the debtor to sell collateral free and clear of a creditor bank's lien without permitting... Read More

RadLAX Oral Argument - Part II: What's Indubitably Bothering the Supreme Court Justices Equivalently
Posted on 24 Apr 2012 by Steve Jakubowski

As I noted three years ago in my " What's Bothering Ruthie ? " post on Justice Ginsburg's one-liner that stopped the Chrysler sale dead in its tracks, today's Supreme Court oral argument in RadLAX Gateway Hotel, LLC v. Amalgamated... Read More