by Sidney Goldstein
There is a commonly held view that individuals
and business entities have a "God Given Right" or at least a
Constitutional Right to declare bankruptcy to protect themselves from creditor
claims. Not being a theologian, we will only discuss the legal aspect of...
Section 510(a) of the
Bankruptcy Code upholds subordination agreements entered into between lenders
prior to bankruptcy but does not operate as a complete bar to lender disputes.
Ambiguity in intercreditor agreements may pose potential problems concerning
waiver of rights to object during bankruptcy...
A secured party's failure to
use approved forms to provide the names of additional debtors was fatal to its
security interests in those debtors' assets. Secured parties who are listing
multiple debtors should use the approved forms for providing the names. Or they
should file additional financing...
After entity coverage began to be added to the D&O
insurance policy a couple of decades ago, a recurring problem in the bankruptcy
context was whether or not the D&O policy proceeds were property of the
estate under Bankruptcy
Code Section 541 (a) and subject to the automatic stay under Bankruptcy...
The collapse of the venerable Dewey & LeBoeuf law firm is a cautionary tale from which observers have drawn many lessons, including cautions about the perils associated with large law firm mergers and the challenges associated with various forms of law firm partner compensation. The firm's failure...