ArticleSeen It All Before? The Art Of Investing Through Political ChangeAll this has led to debates about the stability (or not) of emerging markets.United StatesFinance and BankingCleary Gottlieb Steen & Hamilton LLP
ArticleThe New Normal: Third-Party Vendors Under The MicroscopeAs the financial services industry continues to strive for efficiency, financial institutions, both deposit and nondeposit taking, are increasingly relying on third parties to perform banking or product functions that are either new to the industry or had traditionally been performed by the institutions themselves. United StatesFinance and BankingPepper Hamilton LLP
ArticleAssignment Of Rents: Absolute May Not Be So AbsoluteIn MRI Beltline the debtor moved for authority to use rents received from tenants of commercial buildings that it owned, and for a "carve out" to permit it to use rents for administrative expenses.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleBankruptcy Sales And Leases: "Free And Clear" May Not Be So "Free And Clear"The successful bidder at the sale appealed, arguing that the sale was "free and clear" of the tenant’s interests. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleBankruptcy Sales: "Free and Clear" Of An "Interest" May Even Extend To Blocking A Successor Unemployment Insurance Experience RatingA state used the debtors’ prepetition unemployment insurance experience rating to determine the unemployment insurance tax liability of a buyer of the debtors’ assets. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleDragnet Clauses: Sometimes They Don’t Work As Hoped, And Sometimes They DoA judgment lien creditor objected to a joint debtors’ chapter 11 plan of reorganization based on a dispute with a mortgagee.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleEnvironmental Claims: The Best Laid Schemes Of Mice And Men …A company bought property from the debtor in the mid-1980s that turned out to be contaminated. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleEquitable And Mandatory Subordination: The Disappearing ClaimPrior to bankruptcy, a claimant obtained a $4 million judgment, which supposedly represented one-third of the value of the debtor's business. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleLLC Operating Agreement: Is A Purchase Option Enforceable Against A Bankrupt Member?A chapter 13 debtor was a member of a limited liability company. Another member sought relief from the automatic stay in order to acquire the debtor’s membership interests.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleMortgagee Stay Relief: Wending A Path Through Adequate Protection And Dragnet ClausesA mortgagee sought relief from the automatic stay in order to pursue its state law remedies against properties securing seven defaulted loans. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleOriginal Issue Discount Claim: Maybe It’s Allowed, And Maybe It’s NotAn unsecured creditors committee brought an action against an indenture trustee and collateral agent (a) seeking to recharacterize a facility as a secured financing, (b) requesting a declaratory judgment that liens did not extend to released collateral and loans, and (c) seeking partial disallowance of claims of noteholders on the basis that the claims included original issue discount (OID) that should be disallowed as unmatured interest. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleProperty Transfers: What Goes On In Probate Court Stays In Probate Court – WrongA chapter 7 trustee sought to use his strong-arm powers to avoid the transfer of several properties from the debtor to his ex-wife pursuant to an unrecorded prepetition divorce decree.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleSale Free And Clear: Permitted "Matters Of Record" May Be Broader Than You ExpectThe buyer of assets in a bankruptcy sale sought to enforce its asset purchase agreement against a county seeking to collect personal property taxes arising prior to the sale.United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleSecured Claims: What Does It Take To Extinguish A Lien Through A Plan?A discussion on a recent case, where a bank filed a proof of claim in a bankruptcy that erroneously identified its claim as unsecured. United StatesInsolvency/Bankruptcy/Re-StructuringPepper Hamilton LLP
ArticleAmendments To The Russian Arbitrazh Procedure Code On Sanctions-Related DisputesOn June 19, 2020, the amendments to the Russian Arbitrazh Procedure Code (the "Amendments") entered into force.United StatesLitigation, Mediation & ArbitrationCleary Gottlieb Steen & Hamilton LLP
ArticleDecision In In Re FCA US LLC Monostable Elec. Gearshift Litig. (E.D. Mich.)Whether consumers seeking monetary and injunctive relief due to an alleged design defect could be certified as a nationwide class under Rule 23(b)(2) and as 16 elemental sub-classes under Rule 23(b)(3) or in the alternative, ...United StatesLitigation, Mediation & ArbitrationCleary Gottlieb Steen & Hamilton LLP
ArticleForeign Data Center Subject To Reach Of U.S. GovernmentFollowing the July 31, 2014 decision of a New York federal judge, U.S. companies should be aware that data they control now may be subject to the reach of a warrant.United StatesLitigation, Mediation & ArbitrationPepper Hamilton LLP
ArticleThe Alien Tort Statute: Kiobel Dials It BackThe U.S. Supreme Court has recently held that the presumption against extraterritoriality applies to claims under the Alien Tort Statute, and as such, there is no federal court jurisdiction under the ATS for torts in violation of the law of nations that occur in a foreign country. United StatesLitigation, Mediation & ArbitrationPepper Hamilton LLP
ArticleCA Attorney General’s Report Highlights Best Practices For Mobile App DevelopersA summary of the report that provides recommendations and guidelines for strong privacy practices for developers of smartphone and mobile device applications, systems, platforms, and networks. United StatesMedia, Telecoms, IT, EntertainmentPepper Hamilton LLP
ArticleCondo Liens: Judicial Lien v. Security Interest v. Statutory Lien - And Who Cares?Young, a chapter 13 debtor, sought to avoid a condominium association lien for assessments because his chapter 13 plan was feasible only if a large portion of the lien could be avoided. United StatesReal Estate and ConstructionPepper Hamilton LLP