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LexisNexis Core Overview: Sales free of liens under 11 U.S.C.S. § 1129(b)(2)(A) [ an annotated version of this statute is available to lexis.com subscribers ] had to satisfy § 1129(b)(2)(A)(ii)'s requirements, not those of both §...

LexisNexis Overview: Bankruptcy court did not err in denying confirmation of Chapter 11 debtors' plans on the basis that they did not comply with the specific requirements of 11 U.S.C.S. § 1129(b)(2)(A)(ii) because debtors could not sell encumbered...

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...

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...

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...

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...

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...

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...

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...

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. ...

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...

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...

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...

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...

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...