Secured Credit Committee

Committees

Post date: Friday, July 08, 2022

Creditors that file motions to dismiss or convert pursuant to 11 U.S.C. § 1112 [1] to reduce delay by debtors must generally avoid continued hearings in subchapter V cases.

Post date: Friday, July 08, 2022
Photo of Timothy J. Anzenberger
Timothy J. Anzenberger

If a mortgage is ambiguous or contains a mistake, a lender may generally reform the mortgage under state law. [1] But what if a borrower files a bankruptcy petition before a lender does so? In a divided opinion, the U.S. Court of Appeals for the Fifth Circuit confirmed that a lender may not reform a mortgage post-petition.

Post date: Monday, February 28, 2022

At this year's ABI Annual Spring Meeting, being held April 28-30, 2022, at the JW Marriott in downtown Washington, D.C., the Secured Credit Committee will be partnering with the Asset Sales Committee to present "Challenges Facing Secured Creditors in Asset Sales." This session will focus on covering lenders’ perspectives on chapter 11 strategy and options, such as note sales, out-of-court restr

Post date: Monday, February 28, 2022

We’ve all seen it, right? Loan documents where a borrower grants a blanket security interest in nearly all of its assets to a lender, including assets that it may acquire in the future? These “after-acquired” security interests in real and personal property are all too familiar to most secured lenders — especially when lending to a sophisticated business with fluctuating assets.

Post date: Friday, October 08, 2021

An oversecured creditor is generally entitled to post-petition interest, to the extent provided for under a loan agreement, as a part of its secured claim in a bankruptcy case.[1] However, courts are split as to (1) whether or not the same applies to interest incurred at a contracted d

Post date: Monday, May 24, 2021
Photo of T. Randall Wright
T. Randall Wright

Secured creditors whose collateral includes its borrowers’ accounts are empowered by Article 9 to collect money that is owed to borrowers from their borrowers’ account debtors, by a simple notice process. The secured creditor can notify account debtors of the security interest and advise them that they should pay the secured creditor directly, instead of paying the borrower.

Post date: Thursday, February 25, 2021

In this time of COVID-19, creditors and debtors alike have looked for ways to address the financial squeeze the pandemic has imposed on the global economy. On the one hand, debtors are likely to look for more time for their business operations to return to “normal.” On the other hand, creditors are likely to look for certainty of results in an otherwise uncertain time.

Post date: Thursday, February 25, 2021
Photo of Louis T. DeLucia
Louis T. DeLucia

It may seem counterintuitive for banks and other lenders to provide loans to companies in bankruptcy, but they often do. All companies, especially those in bankruptcy, need liquidity to continue operating. Ensuring the availability of cash is one of the most important considerations in a chapter 11 reorganization, because debtors are often unable to reorganize without adequate cash flow.

Post date: Thursday, January 14, 2021

This year has been like no other. With the rest of the world, ABI’s Secured Credit Committee was jilted by the speed at which our in-person conferences and activities came to a halt. At the same time, we marveled at how efficiently the Annual Spring Meeting was retooled for virtual happy hours, networking opportunities and webinars that have lasted through these trying months.

Post date: Wednesday, July 01, 2020
Photo of  John C. Cannizzaro
John C. Cannizzaro

When asked whether a foreclosure sale can be avoided in bankruptcy, the first answer that comes to many practitioners’ minds is “no” because of the Supreme Court’s opinion in BFP v. Resolution Trust Corp.[1] The correct answer, though, is a much more nuanced “it depends.” The Third Circuit’s Sept.

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Sat, 2017-12-02

Hosted by the Secured Credit and Unsecured Trade Creditors Committees. Unsecured trade creditors and secured creditors confront similar plan analysis issues, including gerrymandering, vote incentivization schemes, drop dead provisions, and golden shares. The panel will discuss some of those “creative” plan provisions and interesting confirmation issues that impact both secured and unsecured creditors.

Fri, 2017-04-21

This panel hosted by the Commercial Fraud and Secured Credit Committees will take a fresh look at secured creditor rights and unique solvency issues in fraud and Ponzi cases. Learn how to avoid being trumped in federal forfeiture proceedings or paying on bankruptcy clawback claims by treading in the safe harbor of § 546(e) — and learn how to navigate the shoals of receivership.

Thu, 2017-02-02

This program will provide an introduction to the most common types of intercreditor and subordination agreements involved in transactions today and will highlight drafting considerations and points of negotiation involved in each. Additionally, the panelists will provide an overview of important bankruptcy court decisions involving the interpretation and enforceability of intercreditor agreements and subordination agreements and will provide insight about how intercreditor and subordination agreements have changed (or should change) in response.

Fri, 2016-04-15

Legal and Practical Issues Involving Secured Creditors and the Retention of Financial Advisors.

Fri, 2015-04-17

Secured Credit Under the Code and Commission Report

Wed, 2014-11-12

The Asset Sales Committee hosted their most recent committee call on Wednesday, November 12. This call was titled "Bankruptcy Reform Commission’s Consideration of a Proposal to Surcharge Secured Lenders for 363 Asset Sales," and worked to more broadly inform and engage bankruptcy and restructuring professionals about the proposal being considered by the Bankruptcy Reform Commission to assess a charge on secured lenders for 363 asset sales in Chapter 11.

Mr. James K. Donaldson
Co-Chair
LimNexus LLP
Richmond, VA
(804) 916-1567

Ms. Alyson M. Fiedler, Esq.
Co-Chair
Ice Miller LLC
New York, NY
(212) 835-6315

Ms. Alexandria G. Lattner
Communications Manager
Sheppard Mullin
Costa Mesa, CA
(714) 424-2838

Ms. Andrea Chase, Esq.
Education Director
Spencer Fane LLP
Kansas City, MO
(816) 474-8100

Ms. Shirley Palumbo, Esq.
Membership Relations Director
Greenspoon Marder LLP
West Palm Beach, FL
(786) 486-4334

Mr. Ian Rubenstrunk
Newsletter Editor
Alliance Management
Bloomington, MN
(952) 563-6881

Mr. Evan B. Blum
Special Projects Leader
Hilco Global
New York, NY
(973) 432-0621

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