Secured Credit Committee


Post date: Wednesday, July 01, 2009

The recent decision of Hon. Arthur J. Gonzalez in the chapter 11 cases of Chrysler LLC and its affiliated debtors recalls the oft-repeated maxim "be careful what you wish for." In re Chrysler LLC, et al., Case No. 09-50002 (AJG) (Bankr. S.D.N.Y. April 30, 2009).

Post date: Monday, December 01, 2008

"So, I say to myself, Self, things could be worse. And, sure enough!"

Don't blame the home mortgage mess on the Bankruptcy Code.

Section 11 USC 109 excludes insurance companies and "lending institutions" from title 11. Why? Because it is regulated under some other state and/or federal law.

Post date: Saturday, November 01, 2008
Photo of Deborah L. Thorne [1]
Deborah L. Thorne [1]

In an effort to protect suppliers who sell goods in the days leading up to a customer's bankruptcy, Congress has, via §503(b)(9) of the Bankruptcy Code, carved out special treatment for claims made by creditors who sell and deliver goods to a debtor during the 20 days before a debtor's filing.

Post date: Wednesday, August 01, 2007

For the past year or so, regulators and investors have been eyeing the subprime-mortgage industry as spectators on an expressway might a fender bender or a flat tire. Although onlookers usually don’t know what they’re slowing down to see, it’s more often than not a harmless event, rather than a major catastrophe. Nonetheless, the viewing continues, and so do the endless commutes.

Post date: Wednesday, August 01, 2007

Confidentiality matters in regards to hedge funds. As increasing numbers of funds compete for investment opportunities, it becomes even more critical for fund managers to keep their holdings and investment strategies close to the vest.

Post date: Friday, December 01, 2006
Photo of Benjamin D. Feder
Benjamin D. Feder

Corporate failures (at the risk of stating the obvious) usually result in the realization by creditors of the failed enterprise in less – often far less – than the par value of their claims. Unsurprisingly, this often leads to aggressive efforts to ascribe responsibility for the failure of the enterprise and to seek recovery from those deemed blameworthy (and deep-pocketed).

Post date: Friday, December 01, 2006

Earlier this year, U.S. Bankruptcy Judge Arthur Gonzalez ruled in the Enron bankruptcy proceeding that bankruptcy claims in the hands of innocent buyers may be equitably subordinated based on the conduct of upstream sellers, which need not be related to the transferred claim. See In re Enron Corp., 340 B.R. 180 (S.D.N.Y.

Post date: Wednesday, March 01, 2006

Buyers of claims in bankruptcy have long feared that their claims (including syndicated bank loan claims) may be tarnished by the conduct of a previous owner. Standard legal documentation used to purchase claims strives to protect buyers from "bad actors" in the upstream chain of title.

Post date: Wednesday, March 01, 2006

Fairness opinions, the opinion of a financial advisor that the price of a prospective transaction is fair from a financial point of view, have been in the news recently for several reasons. The controversy involves conflicts of interest between providers of fairness opinions and other parties involved in the transactions.


Ms. Andrea Chase, Esq.
Spencer Fane LLP
Kansas City, MO
(816) 292-8279

Mr. James K. Donaldson
Woods Rogers Vandeventer Black
Richmond, VA
(804) 343-5028

Ms. Alexandria G. Lattner
Communications Manager
Sheppard, Mullin, Richter & Hampton LLP
Costa Mesa, CA
(714) 513-5100

Mr. Eric W. Anderson
Education Director
Parker, Hudson, Rainer & Dobbs LLP
Atlanta, GA
(404) 420-4331

Mr. Ian Rubenstrunk
Education Director
Spencer Fane
Minneapolis, MN
(952) 563-6881

Ms. Shirley Palumbo, Esq.
Membership Relations Director
NextEra Energy Resources
Juno Beach, FL
(561) 310-5028

Ms. Kelli S. Norfleet, Esq.
Newsletter Editor
Haynes and Boone, LLP
Houston, TX
(713) 547-2630

Mr. Evan B. Blum
Special Projects Leader
Woodbridge, NJ
(732) 750-0900

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