 | Client Update: Another Victory for the Mortgage Loan Repo Market
4 June 2008 - In a decision issued on May 23, 2008, the mortgage loan repo market scored its second important victory in the American Home Mortgage bankruptcy case. Read >>
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| Client Alert: Transferred Rights Under LSTA Purchase and Sale Agreements After M. Fabrikant & Sons, Inc.
22 April 2008 - Buyers and sellers of distressed debt buy and sell bank loans in the secondary market using standardized document containing standardized definitions. Read >>
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| The Mortgage Loan Repo Survives It's First Big Test (With One Hitch)
17 April 2008 - Lenders who finance portfolios of residential mortgage loans through repurchase agreements scored an important victory in a recent decision arising out of the bankruptcy of American Home Mortgage, Inc. Read >>
Reproduced with permission from BNA's Bankruptcy Law Reporter, Vol. 20, No.16, 04/17/2008. Copyright 2008 by The Bureau of National Affairs, Inc. (800-372-1033) www.bna.com |
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| Intercreditor Agreements in Bankruptcy
Intercreditor agreements long have been used to establish the relative rights of various creditors of a single borrower or borrower group. By their terms, such agreements may establish creditors' rights, whether pari passu or senior/subordinated, to receive payments of principal, interest, and other secured or unsecured obligations. Read >>
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| Bankruptcy Court Decisions: Momentum continues to shift in favor of buyers of distressed assets, but careful due diligence is still crucial
January 2008 - Entities proposing to purchase assets from bankruptcy estates typically seek to insulate themselves from the risk that a person with a claim against the debtor/seller will try to impose liability for that claim on the purchaser. Fortunately for buyers, the trend in the case law continues to favor reducing such risks. Read >>
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| Bankruptcy Court Decisions: SARE: A new world for many creditors
11 December 2007 - When Congress added provisions governing SARE cases to the Code in 1994, most commercial real estate players ignored them; they only applied in cases involving less than $4 million of secured debt. Read >>
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| Bankruptcy Court Decisions: Changing settlement mechanics of credit default swaps
20 November 2007 - In recent years, the credit default swap market has grown dramatically. According to the International Swaps and Derivatives Association, in the frst six months of 2007 alone, the notional amount of outstanding CDS contracts grew from $26 trillion to $45.5 trillion, a 75 percent year -on-year increase. Read >>
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| Bankruptcy Court Decisions: Musicland offers cautionary note for intercreditor agreements in second lien financings
16 October 2007 - In the second lien financing market, one of the most hotly-contested issues in negotiations between first lien and second lien lenders is typically the "hard cap" - that is, to what extent, and under what circumstances, additional first lien debt may be incurred without second lien lender consent. Read >>
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