Category Archives: Industry Focus

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Court to Lenders: Strict Compliance with Local Recording Requirements Necessary

A decision out of the District Court for the Middle District of North Carolina (the “District Court”), now being appealed to the Fourth Circuit Court of Appeals, highlights just how critical it is for lenders to strictly comply with local recording requirements when recording their liens. In SunTrust Bank N.A. v. Northen, 433 B.R. 532 (M.D.N.C. … Continue Reading

Top 10 Best Practices For Lenders On Problem Loans

Since the start of the financial crisis, the number of problem loans has increased as real estate values declined, credit markets tightened, and various companies struggled to survive and stay in business during this recession. For lenders who made loans secured by real estate or personal property collateral during better economic conditions, these lenders are now … Continue Reading

Shipping Industry Problems

Most maritime shipping companies were operating profitably through the summer of 2008 until the "perfect storm" of the credit crisis and the worldwide recession struck, leading to the collapse of both the commodity and freight markets.  The resulting upheaval has affected trade credits, shipbuilding deliveries, orders, chartering, and sales-and-purchases, among other things, for shipping companies … Continue Reading

Dealing With Troubled Companies – Does Purchasing Assets Avoid Seller Liabilities?

A common strategy for acquiring the business of a troubled company is to purchase assets rather than acquire all outstanding capital stock of the target, based on the general principle that a purchaser of assets is not responsible for liabilities of its seller absent an express or implied assumption.  Does the strategy work?  Depending on … Continue Reading

When Red is the Color of the Season: Commercial Property Leases and Bankruptcy

Bankruptcy filings are skyrocketing as more and more companies are going deep into the red.  For retailers or their landlords holding leases in commercial property, there are special considerations to keep in mind.  This post will provide some basic information on the rights of non-debtor tenants and landlords under unexpired non-residential property leases when a … Continue Reading

Asbestos Reform: The Senate Judiciary Committee Considers Proposed Amendments to the FAIR Act

On June 7, 2006, Senator Arlen Specter, the chairman of the Senate Judiciary Committee, and co-sponsor Senator Patrick Leahy, convened a Senate Judiciary Committee hearing to consider proposed amendments to the Fairness in Asbestos Injury Resolution Act of 2006 (or the FAIR Act of 2006, S. 3274), the controversial asbestos reform legislation originally introduced on … Continue Reading

The 2005 Amendments Will Have Significant Ramifications For Creditor And Equity Committees And Their Members

Traditionally, serving on a committee has ensured that committee members’ interests were represented and provided members with access to confidential information that would otherwise be inaccessible. Several new provisions under the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005?which will increase flexibility in the composition of committees and significantly expand the duties that a … Continue Reading

What Do The Bankruptcy Amendments Mean For The Healthcare Industry?

As has been widely reported in the financial press, the April 2005 amendment of the Bankruptcy Code represents the most sweeping changes to the Code in several decades. And while considerable media coverage has described what the new laws mean for consumers, the ramifications of those changes for healthcare bankruptcies has gone largely unaddressed by … Continue Reading

Trouble Looms for Competitive Telecom Resellers

The Telecommunications Act of 1996 (the “1996 Act”) was designed to facilitate local telephone competition by eliminating state-imposed barriers to competition, and by forcing the incumbent local exchange carriers (generally the incumbent former Bell operating companies such as Verizon, SBC and Qwest) to cooperate and lease their network elements to competitive companies. Thus, the new … Continue Reading

So Your Customer Filed For Bankruptcy Protection: What to Expect Under the New Bankruptcy Act

If your customer files its bankruptcy petition after October 17, 2005, you may be entitled to the benefit of some new or changed rules resulting from revisions recently made to the United States Bankruptcy Code. In fact, some of the provisions are significantly more friendly to creditors, so you may find yourself in a much … Continue Reading
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