News & Analysis as of

Commercial Bankruptcy Waivers

Lathrop GPM

Bankruptcy Court Refuses to Enforce Pre-Petition Waiver of the Automatic Stay

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A recent decision by the U.S. Bankruptcy Court for the Southern District of Illinois underscores that creditors must exercise caution in relying on pre-petition waivers of the automatic stay in collection actions. ...more

Clark Hill PLC

How Bankruptcy Courts Interpret Intercreditor Agreements: The Uncertainty of Judicial Perspective

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Intercreditor Agreements typically are contractual arrangements among lenders of similar or differing priorities to a single borrower secured by the assets of the borrower, often including real estate assets. These multiple...more

Herbert Smith Freehills Kramer

And Another Lender Blocking Provision Bites the Dust, Texas Bankruptcy Court Rules

One feature commonly seen in commercial lending transactions is a waiver of the borrower’s authority to file for bankruptcy without the consent of the lender. While such “blocking” provisions are generally upheld where the...more

Nelson Mullins Riley & Scarborough LLP

Arbitration Clauses as Separate Executory Contracts

This term, Supreme Court Justice Elena Kagan has authored a pair of opinions related to arbitration. The first of these decisions, Badgerow v. Walters, 20-1143, 142 S. Ct. 1310 (2022) came down on March 31, 2022, where...more

Williams Mullen

Are the Bankruptcy Provisions in Your Executory Contract Enforceable?

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Most every business relies on executory contracts, which often contain at least one bankruptcy provision. It is important for businesses to be aware of the common bankruptcy provisions that cannot be enforced in a bankruptcy...more

White & Case LLP

COVID-19: Waiver of the Benefit of the Insolvency Filing Moratorium in Russia

White & Case LLP on

Amendments to Article 9.1 of the Insolvency Law ("Law 149-FZ") came into effect on 24 April 2020. The amendments provide that the benefit of the insolvency filing moratorium can be waived (the "moratorium waiver"). In...more

White & Case LLP

COVID-19: Insolvency Filing Moratorium in Russia

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The Russian Government has introduced a moratorium on the filing of insolvency claims (the "moratorium") from 6 April through 6 October 2020. This will have important legal consequences both for the persons covered by it...more

Gray Reed

Wave Goodbye To Unenforcable Mineral Lien Waivers: The Houston Court Of Appeals Weighs In With Mesa V. Deep Energy

Gray Reed on

The Fourteenth Court of Appeals in Houston recently issued an opinion that will have profound impacts on mineral liens and contractual provisions purporting to waive mineral liens. The question of whether or not a pre-work...more

Tucker Arensberg, P.C.

Losing Your Right to Appeal Through Silence

Tucker Arensberg, P.C. on

The Court of Appeals for the Third Circuit (Ambro, J.) issued an opinion that may have consequences far beyond the circumstances involved in the case.  The underlying dispute was a breach of contract claim which the parties...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Saudi Arabia is pushing OPEC and its allies to cut oil production in 2019, and it’s doing its own part by exporting 500,000 fewer barrels a day in December than now—all an attempt to “counter the price rout battering the...more

Goulston & Storrs PC

S.D.N.Y. Bankruptcy Court Declines to Enforce Advance Conflict Waiver Against Winston & Strawn Client, Netflix

Goulston & Storrs PC on

Although the legal community eagerly awaits the California Supreme Court’s decision on advance waivers in Sheppard, Mullin, Richter & Hampton v. J-M Mfg. (Cal. No. S232946), a recent decision in the Bankruptcy Court for the...more

Patton Sullivan Brodehl LLP

Loan Guaranties: Statutory and Legal Defenses Can Be Waived, But What About Equitable Defenses?

Guarantors of loans occupy a vulnerable position under California law. While direct borrowers often benefit from California’s robust statutory anti-deficiency framework, those protections are often unavailable for...more

WilmerHale

Insolvency at Its Limits: What Management and Creditors of Insolvent LLCs and LPs Should Know About Fiduciary Duties Waivers and...

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Delaware law allows members and partners of limited liability companies (LLCs) and limited partnerships (LPs) to waive the fiduciary duties of their management in their LLC or LP agreements. When an LLC or LP is insolvent,...more

Buchalter

An Opportunity for Creditors to Enforce Prospective Waivers of the Automatic Stay

Buchalter on

A recent ruling of the Bankruptcy Court for the Central District of California endorsed a path toward enforceability of prospective waivers of the automatic stay in certain circumstances. In short, such a waiver approved in a...more

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