In This Issue:
In
In re Orexigen Therapeutics, Inc., 990 F.3d 748
(3d Cir. 2021), the U.S. Court of Appeals for the Third Circuit
ruled as a matter of first impression that triangular
setoff does not satisfy the Bankruptcy Code s mutuality requirement.
Should Equitable Mootness Bar Appeals Only of Chapter 11
Plan Confirmation Orders?
As demonstrated by a ruling recently handed down by the U.S.
District Court for the Northern District of Texas, courts disagree
on whether equitable mootness should apply only to appeals of plan
confirmation orders. In
Harden Healthcare LLC v. OLP
Wyoming Springs LLC (In re Senior Care Centers, LLC), 2021 WL
An issue that keeps some litigation funders up at night concerns the possibility of a claimant filing for bankruptcy after receiving funding and before their underlying case is resolved.
In a March 30, 2021 announcement, the Biden administration announced that it would be extending relief to approximately 1.14 million student loan borrowers who previously were not covered.
To print this article, all you need is to be registered or login on Mondaq.com.
In a March 2021 decision in the jointly administered bankruptcy
cases of Fencepost Productions, Inc. and certain of its affiliates,
Judge Dale L. Somers of the Bankruptcy Court for the District of
Kansas declined to enforce a voting restriction in subordination
agreements between two of the debtors creditors, but
nonetheless found that the deeply subordinated creditors were
barred from voting on the debtors plan because they lacked
prudential standing.
1 In declining to enforce the
contractual voting restriction, the decision defies a trend toward
enforcing subordination and intercreditor agreement terms - so long
To print this article, all you need is to be registered or login on Mondaq.com.
The
Wall Street Journal reported that the wave of cash raised by
special-purpose acquisition companies (SPACs) is fueling activity
in the junk debt market at levels not seen since the dot.com-boom
from two decades ago. So far this year, SPACs have issued
roughly $100 billion of stock to purchase private companies and
take them public, with some of that money going toward companies
with below investment-grade credit ratings, significantly boosting
their gains on paper. [WSJ; April 23, 2021]
Bloomberg reported that bonds issued by Hertz
Global Holdings, Inc. have made a drastic turn-around since the