News & Analysis as of

Contract Disputes Commercial Bankruptcy

Patton Sullivan Brodehl LLP

Bankruptcy Property Deal Devolves Into Mess of Contract and Fiduciary Duty Claims

The bankruptcy process is often straightforward: the debtor’s debts are discharged, creditors take a haircut of varying degrees, and life moves on.  But some bankruptcy proceedings give birth to complicated agreements that...more

Blake, Cassels & Graydon LLP

Alberta Court Applies Petrowest to Stay Arbitration in Favour of Receivership Proceeding

On May 26, 2025, the Court of King’s Bench of Alberta stayed a proposed arbitration in favour of an ongoing receivership proceeding in Mayfield Investments Ltd (Re). This decision marks the first time that an Alberta court...more

Latham & Watkins LLP

Can Lenders Stay in the Driver’s Seat? The Enforceability of Make-Whole Premiums in Bankruptcy

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Borrowers and lenders must both be aware of the risks relating to uncertainty regarding make-whole premiums in bankruptcy. The enforceability of “make-whole” premiums in bankruptcy has become a hotly contested issue in...more

Goulston & Storrs PC

Rethinking Liability Management in Club Deals and Direct Lending: Lessons from the Fifth Circuit’s Serta Ruling and Beyond

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On December 31, 2024, the Fifth Circuit Court of Appeals (the “Court”) struck down the controversial 2020 “uptier transaction” executed by Serta Simmons Bedding (“Serta”). The Serta case and several other state court and...more

Akin Gump Strauss Hauer & Feld LLP

Case Comment: Petrofac Restructuring Plans

The Petrofac group, a leading international service provider to the energy and infrastructure industries, has successfully obtained an order sanctioning two inter-conditional restructuring plans (Plans). We explore here the...more

Mayer Brown

Serta and Mitel: The Latest Major Court Decisions on Uptier Transactions

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Summary: On December 31, 2024, two major appellate court decisions addressed the legality of uptier financing transactions—one involving Serta Simmons Bedding (“Serta”) and the other Mitel Networks Corporation (“Mitel”). Both...more

King & Spalding

Michigan Bankruptcy Court Finds Commercial Loan Not Usurious Under Michigan’s “Distressing” Framework of Usury Statutes

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On March 17, 2025, the U.S. Bankruptcy Court for the Eastern District of Michigan denied a borrower’s motion for summary judgment, finding that a secured loan did not violate Michigan’s usury laws. In so holding, the court...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

Holland & Knight LLP

Precise Drafting of a Lease is Crucial and Can be the Deciding Factor in Litigation

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No party enters into a lease hoping one day to end up in litigation. The parties desire a smooth, amicable landlord-tenant relationship. However, the potential for disagreements, and ultimately litigation, over a lease is...more

Farella Braun + Martel LLP

[Webinar] What Nonprofits Need to Know About Landlord-Tenants Relationships and Insurance - September 17th, 3:30 pm - 5:30 pm PT

Real estate is one of the most significant costs for an exempt organization. Furthermore, the laws governing landlord-tenant relationships are complicated, as is a well-designed insurance program. These complexities have been...more

Farella Braun + Martel LLP

[Webinar] Real Estate Webinar Series - Dispute Resolution - September 1st - 3rd, 3:00 pm - 4:00 pm PT

As businesses in the real estate industry grapple with the fallout of the coronavirus pandemic, disputes are on the rise. Understanding your contractual rights early on can help you minimize your litigation risks and exposure...more

Cohen Seglias Pallas Greenhall & Furman PC

[Webinar] Construction Law for Contractors, Beyond the Basics - June 25th, 12:00 pm - 1:00 pm ET

In the course of managing a construction company, its projects and people, contractors, subcontractors, and owners, are likely to run into legal issues beyond simple claims. In this webinar, Michael McKenna will identify some...more

Goulston & Storrs PC

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

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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

Troutman Pepper Locke

Appellate Court Holds That The New Mexico Unfair Practices Act Applies To A “Services” Contract For The Construction Of A Home,...

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Fogelson v. Bozzone, 2017 N.M. App. LEXIS 58 (July 26, 2017) - In May of 2008, Wallen Development, LLC (“Wallen”) entered into a written agreement to construct and sell a new home to David and Corinne Fogelson...more

McGuireWoods LLP

JPMorgan Scores Major Victory in Ongoing Lehman Bankruptcy

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On Sept. 30, a district court resolved a significant portion of outstanding litigation in the bankruptcy proceeding of Lehman Brothers Holdings Inc. and its subsidiaries. See Lehman Bros. Holdings Inc. v. JPMorgan Chase Bank,...more

Troutman Pepper

Construction Contracts: Nothing Beats a Meeting of the Minds

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Waldschmidt v. Singletary Construction LLC (In re Tackett), 516 B.R. 498 (Bankr. M.D. Tenn. 2014) – A bankruptcy trustee sought turnover of profits from the sale of homes constructed by a contractor. The trustee...more

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