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3 May 2010, 5:21 pm by Randall Reese
"  The motion also explains that the $34 million Transaction Value threshold for increased bonus payments was set because that is the amount at which "proceeds were estimated to result in nominal recoveries for unsecured creditors before consideration of the settlement agreement with Spirit. [read post]
3 May 2010, 9:34 am by Joseph C. McDaniel
And even though the stay affecting acts concerning assets of the debtor is terminated, among other things, by the bankruptcy discharge, the bankruptcy discharge itself is a stay (what lawyers call an "injunction") against a bundle of creditor acts. [read post]
2 May 2010, 7:38 am by Stephen Lubben
For example, if you find cheaper bankruptcy counsel, are we sure that creditor recoveries go up, as the article implies, or do recoveries go down, because the cheaper firm is too inexperienced, too small, etc.? [read post]
The very possibility of a corporate turnaround has encouraged investors to take risk in buying discounted equity and debt in restructurings, where there would be far less interest in asset trading in liquidations. [read post]
19 Apr 2010, 5:18 pm by Randall Reese
According to the debtors' claims and noticing agent, Omni Management Group, LLC, creditors have filed proofs of claim asserting over $111 million in claims. [read post]
13 Apr 2010, 10:37 am by LindaMBeale
 could--and did--ask for pretty much anything he liked, including the right not to have to pay back any of WaMu's creditors. [read post]
11 Apr 2010, 8:15 pm by Randall Reese
 Recoveries above $1.5 million are shared 75/25, with the larger portion going to the DIP lenders. [read post]
9 Apr 2010, 5:08 pm by Law Lady
Weekly S201aAttorney's fees -- Charging lien -- Trial court properly denied law firm's motion to impress charging lien on homeowner's insurance proceeds for damages caused to homestead property by hurricane -- When a homestead is damaged, the proceeds of any insurance recovery for the damage is constitutionally exempt propertyReported at 35 Fla. [read post]
8 Apr 2010, 7:20 am by admin
  There is no first meeting of creditors, and creditors may not propose competing plans. [read post]
4 Mar 2010, 4:20 am by Durga Rao
But, there can be a special law like Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, enabling the secured creditors or the Financial Institutions to proceed with their recovery process overriding other laws. [read post]
3 Mar 2010, 7:36 pm by Randall Reese
  That alternative plan agreement provided for a 15% increase in the cash pool made available to unsecured creditors and removal of the 10% recovery cap, as well as $287,500 for equity holders (if unsecured creditors supported the plan).In response, HIG Middle Market made a superior competing offer and, subsequently, Charlesbank and HIG agreed to co-sponsor a further modified plan which would provide even greater recoveries to general unsecured… [read post]
24 Feb 2010, 6:56 pm by Randall Reese
  Because general unsecured creditors are not expected to receive a complete recovery on account of their claims, the plan proposes no recovery for either the NAI Subordinated Claim (if allowed) or holders of interests or equity in any of the debtors. [read post]
24 Feb 2010, 6:56 pm by Randall Reese
  Because general unsecured creditors are not expected to receive a complete recovery on account of their claims, the plan proposes no recovery for either the NAI Subordinated Claim (if allowed) or holders of interests or equity in any of the debtors. [read post]
23 Feb 2010, 8:31 am by admin
  The creditors, you see, think they have the whip hand, but the reality is that Dubai World’s assets have negligible recovery value. [read post]
23 Feb 2010, 5:00 am by Scott Sagaria
They claim to have lined up $1.8 billion in financing for an alternative plan that would increase the recovery for creditors. [read post]
16 Feb 2010, 7:14 pm by Randall Reese
Joe's Holding Corporation, its Official Committee of Unsecured Creditors, and its Prepetition (pre-bankruptcy) Term Loan B Secured Creditors have filed a joint response and objection to the United States Trustee's request to convert G.I. [read post]
14 Feb 2010, 1:52 pm by Randall Reese
  According to the motion, the company anticipated collecting sufficient cash to pay the claims through "the Senior Noteholder Contribution Amount and Avoidance Recoveries. [read post]
10 Feb 2010, 6:29 pm by Randall Reese
  However, all creditors would receive a projected 100% recovery on their claims pursuant to the plan of reorganization (general unsecured creditors would not receive any interest on their claims under the plan). [read post]
5 Feb 2010, 12:10 am by Randall Reese
"  As such, Grede asserts that the "expenses associated with Grede continuing coverage for the Union Retirees under the Plan and the life insurance plan are depleting the remaining assets in the estate and reducing the amount of any recovery for the other unsecured creditors. [read post]