Excerpts From: NBI Advanced Real Estate Law Seminar--April 1, 1998
Richard L. Robertson & Associates, P.A.
Creditor dissatisfaction with bankruptcy is again peaking as the number of consumer bankru.
Buying And Selling Claims In Bankruptcy: Maximizing Returns
William B. Freeman and Craig A. Barbarosh of Pillsbury Winthrop Shaw Pittman LLP
This article will present a general overview of bankruptcy law in the United States and discuss some of the issues which may arise when dealing with companies in bankruptcy.
Reclamation: An Effective Remedy when dealing With Financially Troubled Companies
Tydings & Rosenberg LLP
You are a major manufacturer of office furniture and sales are at an all time high. Your biggest cu.
Insolvency & Corporate Restructuring in Canada
of Bennett Jones LLP
The past year has seen somewhat of a general let-up in activity in the insolvency bar, although a significant number of major restructurings were undertaken or completed as the year progressed. In the steel industry, Stelco filed for protection in January 2004, and Ivaco's and Slater Steel's Companies' Creditors Arrangement Act ("CCAA") proceedings proceeded toward conclusion. Air Canada's restructuring was completed in September, 2004. Forest products company Doman Industries saw its long-standing and unsuccessful restructuring efforts finally take form behind a bondholder-led rights offering and debt-to-equity conversion. It emerged from protection as Western Forest Products in July, 2004.
Are There Any Critical Vendors Left?
Gregory R. Schaaf of Greenebaum Doll & McDonald PLLC
A fundamental rule in bankruptcy proceedings is that prepetition claims are not paid without a plan or separate order of the bankruptcy court. The Bankruptcy Code requires payment in a specified order of priority. In large cases, the plan process could take years, leaving a creditor without recovery for an extended period. Orders allowing payment of prepetition claims prior to the payments approved by a plan are rare. One of these rare possibilities is the request to deem a creditor "critical," usually in a first-day motion.
When Is Your "Debt" Claim Not A Debt Claim?
Goodwin Procter LLP
Traditionally, bankruptcy law honored the basic axiom that debt should be paid before equity. Recent cases have spawned a new corollary which recharacterizes debt as equity in certain circumstances.