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28 Feb 2019, 6:41 pm
   In his report the Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of human rights, particularly economic, social and cultural rights, presents guiding principles on human rights impact assessments of economic reforms, which set out the human rights principles and standards that apply to States, international financial institutions and creditors when designing, formulating or proposing… [read post]
28 Feb 2019, 3:54 pm by Richard Burt
On February 28, 2019, the Corporations Committee of the Business Law Section of the California Lawyers Association published an e-bulletin that I authored. [read post]
24 Feb 2019, 11:16 am
A similar bill from last year failed to make it out of committee, but lawmakers have outlined several goals that they believe will protect debtors: Requiring all court summons for a debt collection lawsuit to include a debtor’s “bill of rights”; Reducing the time in which a creditor can revive a judgment against a debtor to five years; Lowering the annual interest rate on debt judgments less than $25,000 to two percent; and Raising the value of the exemptions… [read post]
13 Feb 2019, 3:08 pm by Kevin LaCroix
It was also granted the protection from creditors that it sought. [read post]
7 Feb 2019, 12:40 pm by Emily Everson
The fifth bill, S-3415, would require the filing of certain contact information of creditors with a residential mortgage foreclosure complaint and pending legal action. [read post]
6 Feb 2019, 1:10 pm by Wayne Silver
After that date, other groups or creditors can propose a competing plan. [read post]
29 Jan 2019, 5:33 am by Varun Nambiar
The Bankruptcy Law Reforms Committee, in its November 2015 report, said that financial creditors are “those whose relationship with the entity is a pure financial contract, such as a loan or debt security,” while operational creditors “are those whose liabilities from the entity come from a transaction on operations. [read post]
23 Jan 2019, 12:06 pm by Mark Weidemaier
Mitu Gulati & Mark Weidemaier Last week, the Government of Puerto Rico, acting through the Financial Oversight and Management Board (and in conjunction with the creditorscommittee), filed a claims objection seeking to invalidate roughly $6 billion of its General Obligation debt. [read post]
23 Jan 2019, 10:22 am by Stephen Lubben
The objection was jointly filed by the creditors' committee and the Financial Oversight and Management Board for Puerto Rico, but the Board only joined in one of the two main arguments that are put forth. [read post]
15 Jan 2019, 10:24 am by ccollins
The legal action, brought by the Board and the island’s unsecured creditorscommittee, focuses on GO debts that the U.S. territory sold in 2012 and 2014. [read post]
7 Jan 2019, 11:35 am by ccollins
News of Brown Rudnick’s appointment came almost immediately after the Official Committee of Unsecured Creditors asked for discovery to look into possible claims. [read post]
  The Democrats signing the letter include Maxine Waters, currently the Ranking Member, who is expected to become Committee Chairman next month. [read post]
11 Dec 2018, 10:30 am by Pamela Foohey
I set forth how creditors, the UST, judges, and other parties can call on the process values embedded in Jevic to justify the necessity of appointing additional committees. [read post]
10 Dec 2018, 3:21 pm by Richard Burt
An administrative dissolution will not, however, discharge the corporation’s liability to creditors. [read post]
5 Dec 2018, 4:28 pm by Kevin LaCroix
Coal’s unsecured creditors committee filed a lawsuit against Goggin, Goodwin, ECM, and ECM II, alleging that Googin and Goodwin breached their fiduciary duties and committed other actions in favor of their own personal interest. [read post]
3 Dec 2018, 5:52 am by Samuel Cohen
VENEZUELA On 25 November 2018, Venezuela struck a USD 1.4bn deal to save shares of Citgo Petroleum Corp. belonging to state-owned Petroleos de Venezuela SA (“PDVSA”) from seizure by creditor Crystallex International Corp. [read post]
7 Nov 2018, 4:24 pm by Richard Burt
An administrative dissolution will not, however, discharge the corporation’s liability to creditors. [read post]
29 Oct 2018, 2:00 am by Matrix Legal Support Service
This appeal considered the construction of the expression ‘final distribution’ in a voluntary trust deed for creditors, and whether this includes a distribution made when the creditors receive less than 100 pence in the pound and there remain (following that distribution) assets vested in the trustee, albeit the trustee is unaware of their existence. [read post]