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Contract Disputes › Commercial Bankruptcy › Creditors

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

Akin Gump Strauss Hauer & Feld LLP

Case Comment: Petrofac Restructuring Plans

Akin Gump Strauss Hauer & Feld LLP on

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

Clark Hill PLC

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

Clark Hill PLC on

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

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