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Commercial Bankruptcy › Loan Agreements › Chapter 11

Patterson Belknap Webb & Tyler LLP

New Jersey Bankruptcy Court Rules That Debtor Could Not Sell its Future Accounts Receivable Prepetition

Patterson Belknap Webb & Tyler LLP on

A bankruptcy court in New Jersey recently granted a debtor’s motion to dismiss the counterclaims of two creditors who purchased a percentage of the debtor’s future receivables prepetition. The court rejected the creditors’...more

Jones Day

Cure and Reinstatement of Defaulted Loan Under Chapter 11 Plan Requires Payment of Default-Rate Interest

Jones Day on

Section 1124(2) of the Bankruptcy Code gives chapter 11 debtors a valuable tool for use in situations where long-term prepetition debt carries a significantly lower interest rate than the rates available at the time of...more

Cadwalader, Wickersham & Taft LLP

Filling an Enforcement “Make-Whole”: Bankruptcy Court Enforces Prepayment Premium Notwithstanding Prepetition Loan Acceleration

Cadwalader, Wickersham & Taft LLP on

On March 18, 2019, Judge Stuart M. Bernstein of the United States Bankruptcy Court for the Southern District of New York issued a decision enforcing a mortgage lender’s claim for a prepayment premium (a/k/a make-whole or...more

Spilman Thomas & Battle, PLLC

Recent Developments with Make-Whole Provisions in Chapter 11 Cases

Spilman Thomas & Battle, PLLC on

A make-whole provision (also known as prepayment premium or call protection) in a loan agreement usually requires a debtor to pay a penalty based on a fixed percentage of the amount of a loan balance the debtor voluntarily...more

Pillsbury Winthrop Shaw Pittman LLP

U.S. District Court Reaffirms Distressed Debt Funds Not Eligible Assignees under Loan Agreement

Pillsbury Winthrop Shaw Pittman LLP on

A recent decision by the U.S. District Court for the Western District of Washington found that certain distressed debt funds were not “financial institutions” under the definition of “Eligible Assignee” in the applicable loan...more

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