The Seventh Circuit Court of Appeals recently handed down a decision with significant implications for landlords contemplating lease termination agreements with distressed tenants. Ruling on a direct appeal in the chapter 11 case In re Great Lakes Quick Lube LP
Continue Reading Landlords Beware: Lease Terminations May Be Voidable In Bankruptcy
Seventh Circuit
Wellness International Oral Argument: Supreme Court Justices Grapple With Implications of Narrowing Bankruptcy Court Powers
There were nearly a million bankruptcy cases filed by individuals and businesses in 2014. It is safe to say that only the tiniest fraction of such debtors have any familiarity with the Supreme Court’s decision in Stern v. Marshall nearly …
Continue Reading Wellness International Oral Argument: Supreme Court Justices Grapple With Implications of Narrowing Bankruptcy Court Powers
Supreme Court Indubitably Grapples With Credit Bidding
The Supreme Court heard arguments yesterday in RadLAX Gateway Hotel over whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing its secured lenders an opportunity to credit bid their debt. …
Continue Reading Supreme Court Indubitably Grapples With Credit Bidding
Does a Single “Or” Excommunicate Congressional Intent From the Bankruptcy Code? Supreme Court to Resolve Circuit Split on Credit Bidding
The U.S. Supreme Court will rule this term in RadLAX Gateway Hotel Inc. v. Amalgamated Bank on whether the Bankruptcy Code permits a debtor in a chapter 11 case to sell encumbered assets without providing the secured lender an opportunity…
So This Is Why Judges Bother to Write Dissenting Opinions — Seventh Circuit Decision on Credit Bidding Vindicates Judge Ambro’s Philadelphia Newspapers Dissent
Critics of last year’s decision on credit bidding by the Third Circuit Court of Appeals in the Philadelphia Newspapers chapter 11 case welcomed the Seventh Circuit’s recent unanimous opinion in River Road Hotel Partners LLC. The Seventh Circuit expressly adopted…
Take Me to the River (Road): The Seventh Circuit Prepares to Weigh In On Credit Bidding
The U.S. Court of Appeals for the Seventh Circuit has taken under advisement the latest case involving the now contentious issue of credit bidding.
Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois last…
Credit Bidding After Philadelphia Newspapers: Dissent 1, Majority 0
Bankruptcy lawyers who are regularly involved in distressed m&a deals have been wondering for the past few months about the potential fallout from Philadelphia Newspapers. In that case, as previously described on this site, the Third Circuit Court of…
Continue Reading Credit Bidding After Philadelphia Newspapers: Dissent 1, Majority 0